The German economy, still struggling to rise out of the recession that gripped it through 2023 and 2024, “had a very weak start to the new year,” Carsten Brzeski, ING’s chief global macroeconomist, wrote to clients last week.
Tag: Global Economy
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CHINA’S GROWTH DILEMMA: JOBS VS. ADVANCED TECH
On 13 March, China’s parliament rubber-stamped the Communist Party’s plan to bet the country’s next five years on achieving global dominance in technologies including AI and robotics, both of which are expected to erase millions of jobs.
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WAR COSTS MIDEAST BILLIONS DAILY IN LOST TOURISM, OIL REVENUE
Nations in the Middle East are losing $600 million a day that tourists would spend if they were still visiting, according to the World Travel & Tourism Council (WTTC).
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U.K. ECONOMY FLATLINES IN JANUARY
After squeezing out a 0.1-percent expansion in December, Britain’s economy showed no growth in January, the Office for National Statistics announced last week.
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EUROZONE FACTORY OUTPUT DECLINED IN JANUARY
The 20-country Eurozone’s manufacturing sector produced 1.5 percent fewer goods in January, an unexpected decline after factory output fell 0.6 percent in December.
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GOING OUT OF BUSINESS TRENDS
Closures continue to hit the retail and restaurant industry due to rising costs, declining demand, shifting consumer habits and online shopping.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The global employment landscape continues to undergo profound disruption as companies adapt to economic pressure, technological transformation, and shifting consumer behavior.
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SPOTLIGHT: THE OIL CRISIS CONTINUES
Two oil tankers were attacked and set on fire in the Persian Gulf late last week, making real the fears that Iran would use military force to shut down oil shipments through the Strait of Hormuz.
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SPOTLIGHT: PRIVATE CREDIT’S VERY BAD WEEK
The private credit market is approaching a sharp correction, in part because many private lenders such as Blue Owl have “misrepresented” the amount of losses they have incurred, which are “larger than reported,” according to an analysis by Glendon Capital Management, a $5-billion fund that invests in distressed debt.
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MERGER CREATES WORLD’S LARGEST TV SHOW PRODUCER
All3Media and Paris-based Banijay are merging under the Banijay name to create the world’s largest independent creator and distributor of television shows.