Overseas Headlines – April 19, 2022

United States:

U.S. Housing Starts Unexpectedly Rise to Fastest Pace Since 2006

“New U.S. home construction rose unexpectedly in March to the highest level since 2006, boosted by multifamily projects as builders seek to replenish housing inventory. Residential starts climbed 0.3% last month to a 1.79 million annualized rate from an upwardly revised February figure, according to government data released Tuesday.”



Russia Defies Most Dire Economic Forecasts Despite Looming Recession

“Russia’s economic crisis has lost some of its sting, buying more time for President Vladimir Putin at home as his military presses a new offensive in its war against Ukraine. Even with a recession looming and inflation approaching 20%, the economy has for the moment defied the most dire forecasts. JPMorgan Chase & Co.’s economists have seen enough upbeat signs to halve their forecast for a first-quarter contraction in gross domestic product to 5%.”



China’s Promises to Support Covid-Hit Economy Fail to Impress

“Investors aren’t buying the Chinese government’s bullish rhetoric and promises of support for an economy paying the price for its stringent Covid Zero strategy.”




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