June 20, 2024 United States: US Home Starts Plunge to Slowest Pace Since June 2020 New home construction in the US slumped in May to the slowest pace in four years, as higher-for-longer interest rates sap the housing industry’s momentum from earlier this year. Housing starts decreased 5.5% to a 1.28 million annualized rate last
June 19, 2024 United States: US Mortgage Rates Drop Below 7% for First Time Since March US mortgage rates declined below 7% last week for the first time since March, spurring back-to-back increases in financing applications for home purchases. The contract rate on a 30-year fixed mortgage decreased 8 basis points to 6.94% in the
June 18, 2024 United States: US Industrial Output Rises More Than Forecast in Broad Advance US industrial production increased in May, helped by a pickup in factory output in a positive sign for a manufacturing sector that has been struggling for momentum. The 0.9% increase in production at factories, mines and utilities followed no change a month
June 17, 2024 United States: Tariff Debate Heats Up With Lagarde Defending Rules-Based System With less than five months to go before the US presidential election, the debates about higher tariffs and their inflationary effects on the economy are starting to heat up. If elected again, Donald Trump has pledged to enact a 10% across-the-board
June 14, 2024 United States: Fed’s Mester Wants Few More Months of Good Inflation Before Cuts Federal Reserve Bank of Cleveland President Loretta Mester called the latest data showing softer inflation “welcome news,” and said she would like to see a few more months of good data before considering lower interest rates. “I would want
June 13, 2024 United States: Treasuries Gain as Mounting Data Point to Softer Inflation, Jobs Treasuries rallied, sending the two-year note’s yield to the lowest level since early April, as data on wholesale prices and jobless claims supported wagers the Federal Reserve will wind up cutting interest rates more than policymakers anticipate. Yields across the
June 12, 2024 According to a recent report, Myanmar's economy is still facing severe problems, and growth is anticipated to be slow as conflict, financial instability, and dislocation limit production. The World Bank's Myanmar Economic Monitor, issued on Wednesday, predicts that GDP would increase by 1% over the year to March 2025, in line with
June 12, 2024 According to the World Bank's 2024 Economic Update for Senegal, the country's economic development remained resilient in 2023, despite political difficulties and persistent, but reducing inflation. Despite disruptions in the services sector and a slowing of export growth, the country's thriving primary and secondary sectors boosted economic activity. The growth rate reached
June 12, 2024 United States: US Inflation Broadly Cools in Encouraging Sign for Fed Officials A key measure of underlying US inflation stepped down for a second month in May, a pleasant surprise for Federal Reserve officials looking for signs that they can start to lower interest rates. The so-called core consumer price index —
June 11, 2024 In 2021, the EU spent approximately €1 882 billion on pensions, accounting for 12.9% of total GDP. Although overall pension expenditure climbed by 2.8% from 2020, its ratio to GDP was 0.7 percentage points lower than in 2020, when it was 13.6%. In 2021, the proportional importance of pension expenditures differed significantly
