July 7, 2020 Real gross domestic product (GDP) in the first quarter of 2020 declined in all 50 states and the District of Columbia. According to the U.S. Bureau of Economic Analysis (BEA), “the percent change in real GDP in the first quarter ranged from -1.3% in Nebraska to -8.2% in New York and Nevada.”
July 06, 2020 After the Member States began easing the COVID-19 containment measures in May 2020, the seasonally adjusted volume of retail trade rose by 17.8% in the euro area and by 16.4% in the EU, compared with April 2020, according to Eurostat, the statistical office of the European Union. However, in April 2020, the
June 2, 2020 Consumer Price Index – April 2020 The consumer price index for April 2020 was 103.7 resulting in an inflation rate of 0.2% increase when compared to previous month’s 103.5 price index, according to the Statistical Institute of Jamaica (STATIN). STATIN noted, “the inflation rate for April 2020 was impacted by the reduction
Brent Oil Brent oil prices increased by 4.41% or US$1.81, as prices rose this week relative to the prior week. Oil traded on July 2, 2020 at a price of US$42.86 per barrel relative to US$41.05 on June 25, 2020. Brent oil opened 2020 year at US$66.25 per barrel. Petrojam prices 87 Octane prices decreased
June 2, 2020 Total nonfarm payroll employment climbed 4.8 million in June, as the unemployment rate fell to 11.1%, according to a report by the U.S. Bureau of Labour Statistics (BLS). The performance was due to the continued resumption of economic activity that had been curtailed in March and April, stemming from the coronavirus (COVID-19)
July 02, 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 percent per annum. The decision to hold the policy rate unchanged is based on the Bank’s continued view that monetary conditions are generally
July 2, 2020 Unemployment rates trended upward for the month of May in all 389 metropolitan states compared to twelve months earlier. According to Bureau Labor Statistics (BLS), “a total of 109 areas had jobless rates of less than 10.0 %, and 16 areas had rates of at least 20.0%.” Non-farm payroll employment fell in
July 02, 2020 For the week ended June 27, seasonally adjusted initial claims declined by 55,000 to 1,427,000 from the previous week’s revised level. Claims for the prior week was 1,482,000 following an upward revision of 2,000 from 1,480,000. According to the U.S. Department of Labour (DOL), “The 4-week moving average was 1,503,750, a decrease of
Government Operations Results for May 2020 For the period of April to May 2020, the GOJ reported Total Revenues & Grants of $74.62 billion, $3.66 billion more than the Government’s projection. Furthermore, year over year, this represents a decrease of approximately 22.3% relative to the $91.29 billion recorded for the corresponding period in 2019. ‘Tax
July 01, 2020 In the first quarter of 2020, the Jamaican economy decreased by 2.3% when compared to the similar quarter of 2019, according to Statistical Institute of Jamaica (STATIN). This was attributable to declines in both the Services and Goods Producing industries of 2.5% and 1.9%, respectively. Notably, the economy's output was adversely affected
