Australia has accused China of going against the "letter and spirit" of the China-Australia Free Trade Agreement (ChAfta), a deal the two countries agreed to review at least after five years, according to SCMP. Neither Beijing nor Canberra has expressed willingness to further review the bilateral free-trade agreement signed five years ago, given the ongoing trade … [Read more...] about Australia Blames China for Acting Against “Letter and Spirit” of Trade Deal
Forex News
U.S. Nonfarm Productivity Rises by 4.6% in Third Quarter but Remains below Expectations
U.S. nonfarm business sector labor productivity rose by 4.6% in the third quarter of 2020 to remain below the second quarter's 10.6% and forecasted 4.9%, according to the Bureau of Labor Statistics press release. The increase in productivity in Q3 resulted from the largest gains in both the output (43.4%) and the hours worked (37.1%). Over the last four quarters, … [Read more...] about U.S. Nonfarm Productivity Rises by 4.6% in Third Quarter but Remains below Expectations
Consumer Spending and Exports Surge Drive Eurozone Growth to Record High
Gross domestic product in the 19-country Eurozone bloc rose by 12.5% in the July-September period from the previous quarter, the largest increase since 1995, according to Reuters. The summer surge in output was driven by domestic consumption and exports as shops and factories reopened after lockdowns. The July-September output was a slight downward revision from the … [Read more...] about Consumer Spending and Exports Surge Drive Eurozone Growth to Record High
Germany Records 3.2% Gains in Production in October but Remains below the Pre-crisis Level
Germany recorded a 3.2% rise in production in October but remained below 5% recorded before the pandemic struck, according to Destatis press release. October's production was higher than 3.0% recorded in the same month the previous year. Production in the automobile industry, the largest in manufacturing, rose by 9.9% in October and was just under 6% below the level … [Read more...] about Germany Records 3.2% Gains in Production in October but Remains below the Pre-crisis Level
U.K. Records Strongest House Price Growth Run Since 2004
U.K. house prices closed 7.6% higher in November 2020 than the same month a year earlier, according to Halifax press release. On a monthly basis, house prices rose 1.2% in November from October's level above the expected 0.5%. The monthly 1.2% housing price gain adds almost 3,000 pounds to the cost of a typical U.K. home.Since June, the average housing price has … [Read more...] about U.K. Records Strongest House Price Growth Run Since 2004
