Source: Bloomberg Continued trade wars between the US and China is costing global value chains about 3-5 years of growth. SPY is down -0.56%, CSI 300 is up +0.42%, USDCNY is up +0.61% The report by the United Nations Development Programme pokes holes on economic recovery in China and the Asia-Pacific region following trade wars. UNDP says the absence of … [Read more...] about China-US Trade Wars Derails Growth of Global Value Chains by 3-5 Years-UNDP
Forex News
Canada’s Inflation Surges to 10-Year High on Shelter, Vehicle Prices
Source: Statistics Canada Canada's inflation accelerated to its fastest pace in a decade in May, on the back of base effects and higher shelter and vehicle prices. The Consumer Price Index climbed 3.6% in May from 3.4% in April. This is the fastest in 10 years since May 2011.The CPI climbed 0.5% month-on-month, the same growth recorded in April.Base effects affected price … [Read more...] about Canada’s Inflation Surges to 10-Year High on Shelter, Vehicle Prices
U.S. Housing Records 5.5 Million Unit Deficit
Source: NAR The United States added 5.5 million housing units less in the last two decades than in previous years, according to the National Association of Realtors. American builders added an average 1.225 million new housing units from 2001 to 2020.The figure is 275,000 units lower than the average 1.5 million new units from 1968 to 2000.The deficit is composed of 2 … [Read more...] about U.S. Housing Records 5.5 Million Unit Deficit
German Economic Growth Forecast Slashed to 3.3% on Supply Chain Concerns
Source: Bloomberg Munich-based research institution Ifo Institute slashed its economic growth projection for Germany for 2021 on supply chain concerns. Ifo expects Germany's economy to grow by 3.3% this year from its earlier forecast of 3.7%.The 2022 growth projection was revised upward to 4.3% from 3.2% previously.Losses due to the COVID-19 pandemic are pegged at … [Read more...] about German Economic Growth Forecast Slashed to 3.3% on Supply Chain Concerns
UK Inflation Hits 2.1% in May on Higher Clothing and Petrol Prices
Source: Office for National Statistics British inflation in May surged to a level not seen in nearly two years, driven by higher prices of clothing and petrol products. Inflation accelerated to 2.1% in May from 1.5% in April and 2.0% the same month in 2020.The latest inflation print is the same as July 2019 and December 2018, and is only lower than November 2018's … [Read more...] about UK Inflation Hits 2.1% in May on Higher Clothing and Petrol Prices
