October 12, 2020 The U.S. Bureau of Economic Analysis indicated that, “State personal consumption expenditures (PCE) increased 3.9% in 2019, a deceleration from the 4.9% increase in 2018.” In addition, the PCE percentage change across all states ranged from 5.7% Utah to 1.8% in Vermont. Expenditure growth in health care and housing and utilities were the main
United States: U.S. Economic Recovery Stuck in Low Gear as Fear Still Dominan “Almost seven months into the coronavirus pandemic, the U.S. economic rebound is stuck at a sluggish pace and activity in many sectors remains well below pre-pandemic levels. With new virus cases elevated and additional government stimlus still up in the air, President
October 9, 2020 The financial position of the Turks and Caicos Islands government and the economy has worsened. Under the leadership of the minister of finance Sharlene Robinson the country has lost an enviable opportunity to finance its growth and development and avoid a recession and is now facing British government intervention in its finances.
United States: Fed Officials Say More QE May Lack Punch, Fiscal Aid Needed “Federal Reserve officials kept up pressure for Washington to renew fiscal support for the virus-ravaged economy even as hopes of a deal between Democrats and Republicans continued to look dim. Without additional fiscal relief, the recovery will likely be a lot weaker,
October 08, 2020 Mr. Keith Duncan, CEO of JMMB Group, commented on the financial performance of the company. Operating revenue net of interest expenses for the FY2019/20 amounted to $21.52 billion (FY2018/19: $18.04 billion), a growth of 19% year over year. This translated to an 83% increase in net profit for the year to total
Brent Oil Brent oil prices increased by 5.18% or US$2.12, as prices rose this week relative to the prior week. Oil traded on October 8, 2020 at a price of US$43.05 per barrel relative to US$40.93 on October 1, 2020. Brent oil opened 2020 year at US$66.25 per barrel. Petrojam prices 87 Octane prices decreased
October 8, 2020 Ciboney Group Limited (CBNY) for the year ended May 31, 2020 reported total revenue of $18,435 relative to $54,435 reported for the prior financial year. Revenue for the last quarter reported an 82% decline to $2,000 compared to $11,000 recorded for the fourth quarter of 2019. Administrative and general expenses closed the
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
