COVID-19 pandemic wiped out about 255 million full time jobs globally, raising the concern that the world economy won’t recover fully in 2021. The report by International Labor Organization showed that working hours would remain below those of the pre-crisis levels even under the most optimistic assumptions. Under a baseline scenario, ILO projects that the global economy … [Read more...] about COVID-19 Crisis Cost the Global Economy About 255 Million Jobs-ILO
Forex News
U.S Existing Home Sales Gained 0.7% in December, 2020 Sales Highest Since 2006
U.S. existing home sales rose 0.7% from November to a seasonally-adjusted annual rate of 6.76 million in December, according to National Association of Realtors press release. The existing home sales totaled 5.64 million in 2020, up 5.6% from 2019, the most since 2006 Total home sales rose 22.2% year over year from 5.53 million in December 2019The median … [Read more...] about U.S Existing Home Sales Gained 0.7% in December, 2020 Sales Highest Since 2006
U.K Private Sector Output hits Steepest Fall Since May, Enters Contraction Zone
Flash Composite Output Index in the U.K fell sharply to 40.6 in January, down from 50.4 in December, according to the IHS Markit press release. The slowdowns reflected national lockdown restrictions due to the coronavirus pandemic. Flash Services Business Activity was 38.8 in January, down from December’s 49.4, an 8-month low due to reduced consumer spending … [Read more...] about U.K Private Sector Output hits Steepest Fall Since May, Enters Contraction Zone
Eurozone Economy Experiences Record Drop in Early 2021
The flash Composite PMI for Eurozone fell from 49.1 in December to 47.5 in January, a third successive monthly decline, according to the IHS Markit press release. January’s PMI signals slowdowns in business activity and the steepest deterioration since November on fresh lockdowns amidst the new coronavirus strain. Flash Services PMI fell to 45.0 in January, down from 46.4 … [Read more...] about Eurozone Economy Experiences Record Drop in Early 2021
U.S. Building Permits, Housing Starts, and Completions Hit Higher Levels in December
U.S privately-owned housing units authorized by building permits rose 4.5% to an annual rate of 1,709,000 in December from November, according to Census Bureau press release. The building permits level was 17.3% higher than the December 2019 rate of 1,457,000. Building PermitsSingle-family authorizations were at a rate of 1,226,000, 7.8% higher than November’s … [Read more...] about U.S. Building Permits, Housing Starts, and Completions Hit Higher Levels in December
