July 10, 2020
Trump’s School-Reopening Gambit Stokes Fresh Concern on Recovery
“The U.S. economy is caught in the middle of President Donald Trump’s tug-of-war to reopen schools — and could end up damned no matter what happens. The full-fledged restart the president is pushing for would boost economic growth by allowing parents to go back to work instead of staying at home to care for their children. But it also would risk a more-rapid spread of viral infections that are already surging in some states, sapping the momentum of the nascent recovery.”
U.K. House Prices Drop Most Since Financial Crisis in Lockdown
“Residential property prices in the U.K. fell by the most since the global financial crisis from April through June, according to mortgage provider Halifax. Values declined 0.9% compared with the first three months of the year as the country locked down due to the coronavirus pandemic. However, on a yearly basis, prices rose across Wales and all regions of England. Scotland bucked this trend with a 0.8% slide, its first decline in seven years.”
China Credit Growth Accelerates in June as Economy Recovers
“China’s credit growth picked up in June amid strong demand for loans via banks and informal channels, signaling that the economic recovery is continuing into the third quarter. Modest policy stimulus coupled with progress in battling the virus at home has led to an increasingly solid recovery in the world’s second largest economy, with output data for the second quarter due next week set to show a return to growth. At the same time, China remains vulnerable to renewed virus outbreaks, as well as the weakness of global demand for its export goods.”
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