Source: Reuters The International Monetary Fund (IMF) has downgraded its global economic growth forecast for the year, weighed down by concerns of debt and inflation amid the COVID-19 pandemic. IMF Chief Kristalina Georgieva said the agency now expects global economic growth slightly below 6%, its forecast in July.Georgieva said the main concern is the “Great Vaccination … [Read more...] about IMF Slashes Global Economic Growth Forecast
Forex News
France’s Construction Activity Remains in the Contraction Zone After Increase in Sept.
Source: IHS Markit France’s Construction PMI rose to 48.9 in September, remaining in the contraction zone for the fourth straight month despite an uptick from 44.9 in August. CAC 40 is down -2.22%, EURUSD is down -0.47%. The fall in construction activity reflected material shortages, which led to an increase in lead times amid weak new demand.Input costs rose at one of … [Read more...] about France’s Construction Activity Remains in the Contraction Zone After Increase in Sept.
Services Slightly Up in August to Mark 16th Straight Month of Growth
Source: ISM The services sector posted a slight rebound in August, posting the 16th straight month of growth. The Services PMI stood at 61.9%, up 0.2 percentage points from 61.7 in August. This indicates the 16th straight month of growth, expanding for all but two of the last 140 months.The Supplier Delivers Index fell 0.8 percentage points to 68.8% from 69.6% in August, … [Read more...] about Services Slightly Up in August to Mark 16th Straight Month of Growth
US Trade Deficit Widens Further in August
Source: Bureau of Economic Analysis The US trade deficit continued to widen in August, as imports outpaced exports anew during the month. The US trade deficit grew by 4.2% to $73.3 billion in August, up from $70.3 billion in the previous month.Exports for the month increased by $1.0 billion to $213.7 billion, with $149.7 billion worth of goods and $64.0 billion worth of … [Read more...] about US Trade Deficit Widens Further in August
Registrations of New Cars in the UK on a 2-Decade Low After Declining by 34% in Sept.
Source: Financial Times UK dealers posted 215,312 registrations of new vehicles in September, a decline of 34% from the prior year and the lowest level since 1999. GBPUSD is up +0.15%, FTSE 100 is up +0.55% The fall in new vehicle registrations in the UK reflects ongoing semiconductor shortages. The low new vehicle sales happen despite September being a plate-change … [Read more...] about Registrations of New Cars in the UK on a 2-Decade Low After Declining by 34% in Sept.
