China’s economic activity in construction, manufacturing, and services slowed more than expected in November, hobbled by continuing, widespread anti-COVID lockdowns, an unresolved financial crisis in the real estate sector, and fewer orders for the country’s factory output.
In November, inflation across the 19-country Eurozone fell for the first time in 17 months, dropping to 10 percent from a record 10.7 percent in October as prices for energy and services slowed their rate of increase.
On 2 December, the U.S. average price of a gallon of regular unleaded gasoline was $3.43, data service OPIS reported, almost a third less than highs of $5 or more reached in June.
Homes heating with natural gas this winter could see their energy bills leap up 25 percent compared to last year, while those using heating oil could experience a staggering 45-percent rise in costs, the U.S. Energy Information Administration (EIA) predicted.
U.S. consumers spent 0.8 percent more on goods and services in October than in September, the U.S. commerce department reported.
The U.S. GDP grew by 2.9 percent in this year’s third quarter, the U.S. commerce department reported, beating the 2.6 percent analysts had widely predicted.
Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses. This is week 20.
As we have greatly detailed, the rise and fall of interest rates is a guessing game since facts do not matter. Again, the facts were clear, front and center: Inflation was spiking but the Central Banksters defamed those of us who said it was real and rising and instead declared it was only “temporary” and then “transitory.”
The African nation of Ghana is asking foreign bondholders to swallow losses of as much as 30 percent of principal and forgive interest payments for three years as it tries to qualify for a loan from the International Monetary Fund, Bloomberg reported.
While European nations argue among themselves about capping natural gas prices, they also are at odds with each other over limiting the price that countries can pay for oil they import from Russia.