It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
Tag: Global Economy
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CRUDE OIL’S PRICE SOFTENS AMID MIDEAST TENSIONS
When equity prices fell early this month, they took oil’s price down with them.
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SPOTLIGHT: JAPAN’S ECONOMY IN FLUX
On 31 July, the Bank of Japan (BoJ) raised its policy interest rate from between zero and 0.1 percent to .25 percent.
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TOP TREND 2024, A GOLDEN YEAR FOR GOLD: SECOND-QUARTER DEMAND FOR GOLD HIGHEST ON RECORD
Worldwide gold purchases totaled 1,258 tons in this year’s second quarter, 4 percent more than a year earlier and the most in any three-month period since 2000 when the World Gold Council (WGC) began tracking sales.
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L’OREAL GROWTH SLOWS ON CHINA SLUMP
China’s staggering economy bogged down another luxury house in the year’s second quarter, with make-up and skincare conglomerate L’Oreal reporting a 2.4-percent sales slump in its Asia region that includes China.
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TOYOTA, VOLKSWAGEN REPORT IMPROVED FINANCIALS
The weak yen and robust sales of gas-electric hybrid vehicles increased Toyota’s net profit by 1.7 percent to ¥1.33 trillion year on year, equivalent to about $8.89 billion, during its fiscal first quarter, the company said.
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BRITISH SHOPPERS ARE NOT SHOPPING
During the four weeks ending 27 July, foot traffic in U.K.’s retail storefronts was 3.3 percent less than a year earlier and 2.3 percent less than in June, the British Retail Consortium (BRC) reported.
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BANK OF ENGLAND CUTS RATE A QUARTER POINT
On 1 August, the Bank of England’s (BoE’s) rate-setting committee shaved a quarter point from its policy rate by a 5-to-4 vote. The cut takes the rate from 5.25 percent, a 16-year high where it has remained since last August, to 5 percent now.
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EUROZONE INFLATION TICKS UP IN JULY
Last month, inflation in the 20-country Eurozone edged up to 2.6 percent after falling to 2.5 percent in June.
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CHINA’S WEAK ECONOMY TANKS COMMODITIES MARKET
Persistent weak demand in China and an abundance of supplies have driven many investors and speculators out of the commodities market, dumping about $41 billion in long positions on the way out.