Category: Macro
-
IMF: Global growth rate to slow to 2.8% by 2030
The International Monetary Fund (IMF) said in its latest world economic outlook report on Wednesday that the global growth rate is likely to fall to 2.8% by the end of the decade, a full percentage point below the historical average. The IMF said the decline in productivity growth is responsible for more than half of…
-
Investors Retreat from Renewable Energy Sector Amid Policy Uncertainties and Growth Concerns
In a marked shift from previous years, global investors are pulling back from renewable energy sector funds, influenced by concerns over the sector’s growth prospects and the uncertain policy landscape in a U.S. election year. This retreat is highlighted by significant fund outflows and the underperformance of renewable energy indices compared to their fossil fuel…
-
US mortgage applications up by 0.1%
Mortgage applications in the United States grew by 0.1% in the week ending April 5, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey published on Wednesday. The 30-year mortgage rate stood at 7.01% in the same period, compared to 6.91% the previous week. The Refinance Index increased by 9.9% to 498.3, while…
-
Global Economic Outlook: A Week Packed with Key Data and Central Bank Decisions – April 8th
The upcoming week promises to be a pivotal one for global financial markets, with a slew of crucial economic data releases and central bank decisions across the world. Investors and analysts will be particularly focused on the United States, where the inflation rate and the minutes from the Federal Open Market Committee (FOMC) meeting are…
-
US nonfarm payrolls grow by 303,000 in March
Nonfarm payrolls in the United States increased by 303,000 in March, according to the report by the Bureau of Labor Statistics published on Friday. The figure was significantly higher than predicted by analysts, while the unemployment rate stood largely in line with expectations at 3.8%. The number of unemployed people in the US was 6.4…
-
Federal Reserve Chair Jerome Powell Emphasizes Data-Driven Policy Decisions Amid Economic Signals
Federal Reserve Chair Jerome Powell reaffirmed his commitment to a data-driven approach to monetary policy during a speech at Stanford University on Wednesday. His remarks underscored the importance of recent economic indicators in guiding the Fed’s future actions, especially in light of the robust economy and the progress made on inflation so far. As the…
-
U.S. Manufacturing Sector Faces Job Cuts and Hiring Freezes Amid Economic Slowdown
Dan Ariens, leading his family’s fourth-generation business, Ariens Company, known for its distinctive bright orange snow blowers and lawnmowers, has been forced to make tough decisions in response to a sales downturn. The company, based in Brillion, Wisconsin, saw a 20% reduction in its workforce, dropping to 1,600 employees, with no anticipated business improvement until…
-
EIA: US crude inventories grow by 3.2 million barrels
Commercial crude oil inventories in the United States, which are not taking into account those in the Strategic Petroleum Reserve, increased by 3.2 million barrels to 451.4 million barrels in the week ending March 29, the Energy Information Administration (EIA) revealed in its report on Wednesday. The figure marked a larger-than-expected buildup. The country’s inventories…
-
Fed’s Bostic: Rate cuts in Q4 ‘appropriate’
Federal Reserve Bank of Atlanta President Raphael Bostic (pictured) stressed on Wednesday that he considers it “appropriate” to cut interest rates in the last quarter of 2024, as he believes inflation will not reach the 2% target until 2026. “If the economy evolves as I expect, and that’s going to be seeing continued robustness in…
-
ISM: US services sector activity eases in March
Growth in activity in the United States services industry eased in March, the Institute for Supply Management (ISM) reported on Wednesday. The ISM Services Purchasing Managers Index (PMI) landed at 51.4%, down 1.2 percentage points from February’s 52.6%. The Business Activity index increased by 0.2 percentage points to 57.4%, while the Employment index expanded by…