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Sunday, July 5, 2020

Fitch predicts negative 2020 global shipping outlook

• Large vessel delivery hit a record high in 40 years The year 2020 may not be so rosy for the shipping sector, going by a new report by Fitch Ratings, which predicted that the ‘shipping outlook is negative”. The rating agency noted that several factors...

Christine Lagarde expected to change ECB inflation target

Majority of economists surveyed believe strategic review will shift central bank policy Christine Lagarde is expected to significantly change the European Central Bank’s inflation target for the first time in more than 16 years as part of next year’s strategic review, according to economists polled...

How traffic jams cost the US economy billions of dollars a year

If you’re like the 76% of Americans who drive to work alone, you’ve probably commuted in stop-and-go traffic with no end in sight. Then, when the road finally clears, you realize there was no reason for traffic to be stopped in the first place. Experts...

Service Sector Resilience to Help Global Growth Stabilise in 2020

The resilience of the service sector and consumer spending growth in the advanced economies should help global growth stabilise next year, after a sharp decline in 2019, says Fitch Ratings in its new Global Economic Outlook (GEO). "There are few signs of any imminent...

Global economy loses $2.2trn to illicit trade – Analyst

Esteban Giudici, Senior Analyst, Transnational Alliance has said that economic leakages from illicit trade create an annual drain on the global economy of 2.2 trillion dollars, equivalent to three per cent of the world’s economy. Giudici said this during the 2019 Africa Security Forum (ASF)...

2020 Economic Outlook: Trade, Global Growth, and U.S. Political Shock Key Risk Factors in Forecast

Today, SIFMA unveiled the results of its biannual survey of the chief U.S. economists of many of SIFMA’s global and regional firms. Compared with the June survey, the economists surveyed increased their GDP growth estimates by 0.05% for 2019 to a median forecast of...

Mexico’s economy has not been this weak relative to the US since the ‘Tequila crisis’ in the 1990s

Revised data shows Mexico’s economy contracted by about 0.1% for three straight quarters before remaining static in the third trimester of 2019. Mexico’s economic slowdown is unusual because the U.S. economy is still growing. ...

China’s slowdown is not the key problem for global growth — the trade war is, says chief economist at S&P Ratings

The uncertainty around the trade relationship between the U.S. and China is dampening global growth, says chief economist at S&P Global Ratings, Paul Gruenwald. A 5.5% growth rate for China “is a broadly healthy development,” Gruenwald told...

Global car sales expected to slide by 3.1 million this year in steepest drop since Great Recession

Global car sales are expected to decline by about 3.1 million in 2019 — a larger unit drop than in 2008, according to Fitch Ratings. Falling demand in China, the world’s largest auto market, is a major...

The current bond yield stagnation mirrors late-1800s ‘long depression,’ economist suggests

TS Lombard compared the current persistent low-rate equilibrium and market hysteresis against the Bank of England’s historical database to analyze past “secular real-rate depressions” and what event triggered their reversal. The current “secular stagnation” for bond yields offers close parallels to...
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