October 8, 2020 Jamaica’s Net International Reserves (NIR) totalled US$2,747.49 million as at September 2020, reflecting a decrease of US$11.90 million relative to the US$2,759.39 million reported at the end of August 2020 (see figure 1). This significant change in the NIR resulted from a US$31.81 million decrease in Foreign Assets which total US$3,713.37 million
October 8, 2020 The seasonally adjusted initial claims, advance estimate, decreased by 9,000 to 840,000 for the week ending October 3 from the prior week's revised level, according to the U.S. Department of Labour (DOL). The prior week's level was revised from 837,000 to 849,000 up by 12,000. In comparison to the previous week’s average, the 4-week moving average
October 8, 2020 Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says preliminary numbers for the six-month period ending September 30 show that overall revenues were $8 billion or 3% higher than budgeted in the First Supplementary Estimates. The figures, however, were 18.8% lower than for the corresponding six months of
United States: U.S. Jobless Claims Declined Last Week While Remaining Elevated “The number of Americans seeking unemployment benefits fell for a second week while remaining elevated, as the labor market makes scant progress amid risks of further weakness without additional federal stimulus. Initial jobless claims in regular state programs decreased by 9,000 to 840,000 in
October 06, 2020 The U.S. Bureau of Economic Analysis indicated that, “the goods and services deficit was $67.1 billion in August, up $3.7 billion from $63.4 billion in July, revised.” August exports was $171.9 billion, which was more than July exports by $3.6 billion, whereas, August imports amounted to $239.0 billion which was $7.4 billion more than July imports.
September 6, 2020 The Member States relax the COVID-19 containment measures in August 2020, the seasonally adjusted volume of retail trade rose by 4.4% in the euro area and by 3.8% in the EU, compared with July 2020, according to Eurostat, the statistical office of the European Union. However, in July 2020, the retail trade
October 6, 2020 The development minerals sector has received another boost from the European Union (EU)-funded Development Minerals Programme with the handover of a Training Reference Resource, produced for the industry. The training resource document is designed to boost the capacity of the sector to establish growth and build resilience into operations. There are special
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
