June 3, 2024 United States: Key Engines of US Consumer Spending Are Losing Steam All at Once The main drivers behind the remarkably resilient American consumer are losing steam at the same time, suggesting a recent pullback in household demand may be more than just a one-off. Real disposable incomes have risen only modestly over
May 31, 2024 The annual inflation rate for the euro area is predicted to increase from 2.4% in April 2024 to 2.6% in May 2024. When examining the primary drivers of inflation in the euro area, services are predicted to have the highest annual rate in May (4.1 %, up from 3.7% in April). Food,
May 31, 2024 A $250 million International Development Association (IDA)* credit has been approved by the World Bank for a five-year Ghana Financial Stability Project. By promoting financial stability through the recapitalization of banks and specialized deposit-taking institutions (SDIs) affected by Ghana's Domestic Debt Exchange Program (DDEP), the project will support the country's Financial Sector
May 31, 2024 United States: Fed’s Favored Inflation Gauge Cools, Spending Unexpectedly Drops The Federal Reserve’s preferred measure of underlying US inflation moderated in April and consumers dialed back their spending, supporting plans for an eventual reduction in interest rates. The so-called core personal consumption expenditures price index, which strips out the volatile food and
May 30, 2024 According to the International Comparison Program (ICP), the GDP of the European Union (EU) in 2021 accounted for 15.2% of the global GDP in terms of purchasing power standards (PPS). With roughly 18.9% of the global GDP in 2021, China had the biggest economy in the world. United States accounted for 15.5%
May 30, 2024 The seasonally adjusted unemployment rate for the euro area in April 2024 was 6.4%, compared to 6.5% in both March 2024 and April 2023. The EU unemployment rate was 6.0% in April 2024, stable compared to March 2024 and to April 2023. According to Eurostat, the number of unemployed people in the
May 30, 2024 United States: Treasuries Steady After Selloff Ahead of GDP and Inflation Data Treasuries pared this week’s sharp losses Thursday after inflation gauges in the US first-quarter economic growth data were unexpectedly revised lower. The revisions rekindled expectations for at least one Federal Reserve interest-rate cut this year, which were dented on Tuesday
May 29, 2024 United States: US Mortgage Rates Rise for First Time in a Month, Denting Demand US mortgage rates increased for the first time in a month, denting demand for home-buying and refinancing. The contract rate on a 30-year fixed mortgage increased 4 basis points in the week ended May 24 to 7.05%, according
May 28, 2024 Morocco's Country Strategy Paper (CSP) for the years 2024–2029 has been accepted by the African Development Bank Group Board of Directors. In order to foster robust, sustainable growth, stabilize the dynamics of economic and social inclusion, and enhance the competitiveness and resilience of the Moroccan economy, this roadmap will support the priorities
May 28, 2024 United States: Wall Street Moves to Fastest Settlement of Trades in a Century The US stock market is finally as fast as it was about a hundred years ago. That was the last time share trades in New York settled in a single day, as they will from Tuesday under new Securities
