Central banks around the world bought roughly 800 metric tons of gold this year through September, 14 percent more than during the same period in 2022 to set a new record, according to the World Gold Council, a rate the council called “voracious.”
Tag: Economy
EUROZONE UNEMPLOYMENT JUMPS IN SEPTEMBER
In September, 69,000 workers lost their jobs in the 20-nation Eurozone, nudging the jobless rate to 6.5 percent. More than 11 million people across the region are now out of work, 165,000 more than a year earlier, the Financial Times reported.
GOING OUT OF BUSINESS TRENDS
The facts are clear, the numbers are there. The worst of the economic times is coming. Just take a look at the long list of businesses going out of business that we have been publishing each week.
WHEN THE ECONOMY FALLS JOBS GO WITH IT
The U.S. job numbers reported last week, as we have detailed, were weak... as they are throughout much of the world.
TOP TREND 2023, MIDEAST MELTDOWN: ISRAEL WAR THREATENS GLOBAL ECONOMY
If the Mideast war is prolonged or becomes regional, the world’s food and fuel costs could rise once again, extinguishing the global post-COVID recovery and halting economic expansion, several major economists have warned.
SPOTLIGHT: BIGS GETTING BIGGER
As we have noted since the Central Banksters started to rapidly raise interest rates, the decade’s long merger and acquisition spree is over.
SPOTLIGHT: CHINA’S ECONOMY
The Chinese government has announced a trillion-yuan boost (about $1.4 billion) to domestic spending, breaking its long-standing limit of a deficit no larger than 3 percent of GDP. That will dig the annual budget hole deeper than it has been in 30 years, according to figures cited by Bloomberg.
U.S. ELECTRIC VEHICLE SALES HIT THE BRAKES
High interest rates, inflated materials costs, and sticker-shock prices in the $60,000 range have stalled the electric vehicle revolution in the U.S.
EUROPEAN CENTRAL BANK FREEZES INTEREST RATE
At its meeting on 26 October, the governing council of the European Central Bank (ECB) ended its streak of 10 consecutive interest rate hikes, leaving its deposit rate at 4 percent, its highest since the euro currency was launched on 1 January, 1999.
EUROZONE ECONOMY SHRANK IN THIRD QUARTER, PMI INDICATES
The Eurozone’s economy probably contracted in this year’s third quarter, according to the Hamburg Commercial Bank’s newest composite purchasing managers index (PMI).