About 24 percent of office space in 18 major Chinese cities sat empty in June, compared to 18.2 percent in the U.S., real estate services firm CBRE reported. In that month, the national value of office rents fell 7 percent below that of 2019.
Tag: Economy
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BANK OF JAPAN HOLDS INTEREST RATE STEADY
The Bank of Japan (BoJ) did not change its interest rate when the governing committee met on 22 September, citing “extremely high uncertainties” about its own and the world’s economic future.
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CANADA’S INFLATION RATE SPIKES IN AUGUST
Canada’s annual Inflation rate jumped to 4 percent in August from 3.3 percent in July, largely due to a 0.8-percent rise in the price of petroleum fuels, Statistics Canada reported. The rate was the highest since April.
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CHINA’S ECONOMY PERKS UP IN AUGUST
Last month, economic activity picked up in China’s retail and travel industries as well as at computer chip and smartphone factories, the National Bureau of Statistics (NBS) has reported.
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U.K. ECONOMY SHRANK IN JULY AT FASTEST PACE THIS YEAR
In July, Britain’s economy contracted most sharply since December, with GDP puckering by 0.5 percent compared to July and busting analysts’ expectations of a 0.2-percent slide.
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EUROPEAN CENTRAL BANK RAISES INTEREST RATE TO RECORD HIGH
On 14 September, the European Central Bank (ECB) raised its key interest rate for the 10th time in as many meetings, bumping it by a quarter point to an even 4 percent, the highest since the euro currency was introduced in 1999.
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OIL SUPPLIES WILL REMAIN SHORT OF DEMAND
Since January, oil production cuts by the Organization of Petroleum Exporting Countries have subtracted 2.5 million barrels a day from the world’s oil supply, the International Energy Agency (IEA) has calculated.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
This is the 54th week that we have been reporting job losses. And as we note in this Trends Journal, the outlook for hiring workers for the holiday season is at a Panic of ’08 low.
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MONEY MARKET FUNDS UP $1 TRILLION THIS YEAR
Money market funds’ assets have grown by $1 trillion so far this year, the Financial Times reported, and are poised to end this year with an additional $1.5 trillion if the current pace of deposits continues.
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SPOTLIGHT: BIGS GETTING BIGGER
As we had long forecast, the higher central banks raise interest rates, the lower the Merger and Acquisition trend… which hit record highs at the height of the COVID War in 2021 when interest rates sank and governments pumped in countless trillions to artificially prop up sinking economies.
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