Economics
Resurgence In The Auto Industry Helped Boost US Industrial Output In March
The third consecutive monthly increase in U.S. factory activity was fueled by a dramatic comeback in automobile output in March, possibly hinting that the worst of the production troubles that have plagued the auto industry over the last year are passed. The Federal Reserve reported on...
Ukraine Crisis And Inflations Prompts World Bank To Cut Growth Forecast For India, And South Asia
The worsening bottlenecks in global supply chains and increasing rates of inflation resulting from the Russian war in Ukraine prompted the World Bank to slash cut its economic growth prediction for India as well as the whole South Asian region. With respect to India, the international...
IMF expects fragmentation of world economy into smaller blocs
In light of the coronavirus pandemic and the situation in Ukraine, Kristalina Georgieva, the president of the International Monetary Fund, said there was a "risk" of greater fragmentation of the global economy into geopolitical blocs. "Our ability to resolve the twin crises of pandemic and war is...
Covid Hit Will Potentially Slows Down China's GDP Growth To 5.0% In 2022
According to a Reuters poll, China's economic growth would likely fall to 5.0 percent in 2022 due to further COVID-19 outbreaks and faltering global recovery, putting more pressure on the central bank to loosen policies further. The projected growth rate for 2022 is lower than the 5.2 per...
Heavy Demand And Supply Chain Disruptions Pushes Up Global Renewable Power Prices
According to a report released on Wednesday, prices for wind and solar power in major worldwide markets have risen roughly 30 per cent in a year as producers deal with unpredictable supply chains and rising expenses for everything from shipping to parts to labour. According to a quarterly...
Unexpected Fall Of Chinese Imports Due To Covid Curbs In The Country
Imports unexpectedly decreased in March as Covid-19 restrictions delayed freight arrivals and dampened domestic demand, while export growth slowed, leading analysts to forecast a worsening in trade in the second quarter. The weaker trade data are expected to fuel expectations for greater...
US Energy authority expects growing global oil reserves
Despite lower oil production projections for Russia, the US Ministry of Energy predicts a 0.5 million barrel per day increase in global oil reserves starting in the second quarter of 2022. The statement is supported by data from the Ministry of Energy (EIA)'s monthly short-term forecast....
WTO comments on world GDP and trade growth rates in 2022
The World Trade Organization (WTO) downgraded its forecast for global GDP growth in 2022 from 4.1 percent to 2.8 percent as a result of the conflict in Ukraine, according to the WTO’s report. "Global GDP will rise by 2.8 percent on market exchange rates in 2022, down 1.3 percentage points from the...
Covid Lockdowns And Ukraine War Likely Slowed China's March Trade Growth
China's export growth slowed in March as the Ukraine war reduced global demand, wile imports declined amid evidence that widespread anti-Covid lockdowns had hurt internal spending, according to a report from Reuters based on a survey of economists. According to a Reuters poll of 19...
Ukraine War And A Weak Yen Hold Japan's Wholesale Inflation Close To Historic High
According to figures released on Tuesday, Japan's wholesale inflation stayed near record highs for the month of March, as the Russian invasion of Ukraine and a weak yen pushed up gasoline and raw material costs, putting additional strains on the resource-poor economy that is heavily reliant on...
