October 6, 2020 According to new central bank data unserviced bank and mortgage loans, also called non-performing loans (NPLs), grew by one-third to $27.9 billion over the span of a year ending June. It’s the highest percentage rise in eight years and, as a dollar value, grew by $7.5 billion from $20.4 billion a year
October 5, 2020 Total nonfarm payroll employment climbed 661,000 in September, as the unemployment rate fell to 7.9%, according to a report by the U.S. Bureau of Labour Statistics (BLS). The improved performance was due to the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to
October 5, 2020 According to Eurostat's recent report, the EU second quarter of 2020, seasonally adjusted current account balance recorded a €82.9 billion surplus, which is 2.7% of GDP. This represents an increase of €30 billion, from the first quarter surplus of €52.9 billion, which was 1.5% of the GDP. Also, €10.2 billion greater than
October 2, 2020 According to Eurostat flash estimate, “Euro area annual inflation is expected to be -0.3% in September 2020, down from -0.2% in August.” It was noted that the main components of the estimate of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in September (1.8%, relative
October 2, 2020 Government Operations Results for August 2020 For the period of April to August 2020, the GOJ reported Total Revenues & Grants of $200.06 billion, $5.81 billion more than the Government’s projection. This represented a decrease of approximately 20.2% relative to the $250.63 billion recorded for the corresponding period in 2019. ‘Tax Revenue’
October 2, 2020 The seasonally adjusted initial claims, advance estimate, decreased by 36,000 to 837,000for the week ending September 26 from the prior week's revised level, according to the U.S. Department of Labour (DOL). The prior week's level was revised from 870,000 to 873,000 up by 3,000. In comparison to the previous week’s average, the 4-week moving average was 867,250,
October 01, 2020 Bank of Jamaica announces its decision to hold the policy interest rate (the rate offered to deposit-taking institutions on overnight placements with Bank of Jamaica) unchanged at 0.50 per cent per annum. Jamaica continues to grapple with the challenge of the COVID-19 pandemic and the adverse impact on economic activity. Bank of
October 1, 2020 According the Statistical Institute of Jamaica (STATIN), the Jamaican economy declined by 18.4% in the second quarter of 2020 when compared to the similar quarter of 2019. This downward movement resulted from declines in both the Services Industries (20.3%) and the Goods Producing Industries (12.7%). The performance of the economy was largely
September 30, 2020 Unemployment rates trended upward for the month of August in 387 of the 389 metropolitan areas and lower in 2 states compared to twelve months earlier. According to Bureau Labor Statistics (BLS), “a total of 37 areas had jobless rates of less than 5.0 percent and 6 areas had rates of at
September 25, 2020 The UK government has constructed its Winter Economy Plan to support workers and businesses affected by the COVID-19 crisis. The Winter Economy Plan outlines the measures to support citizens and businesses as the country recovers from the economic aftermath of the pandemic and drive growth across the UK. Further support for employment
