Overseas Headlines – November 24, 2021

United States:

U.S. Economic Growth Revised Up to 2.1% in Third Quarter

“U.S. economic growth in the third quarter was revised slightly higher, reflecting somewhat stronger personal spending than previously estimated. Inflation-adjusted gross domestic product increased at a 2.1% annualized rate during the period, compared with an initially reported 2%, Commerce Department data showed Wednesday. Consumer spending, which accounts for the majority of the economy, grew 1.7%.”



German Business Confidence Slumps as Virus Threatens Rebound

“German business confidence took another hit in November, with a new wave of Covid-19 infections looming over the economy and rising inflationary pressures threatening to weigh on manufacturing. A gauge compiled by the Munich-based Ifo Institute dropped for a fifth straight month to its lowest since April. Economists had predicted a decline to 96.7. Expectations for the next half year also worsened.”



China Finds 12 Million Children That It Didn’t Know Existed

“China undercounted the number of children born in 2000 to 2010 by at least 11.6 million — equivalent to Belgium’s current population — partly because of its stringent one-child policy. The latest statistical yearbook released by the government puts the number of children born during that period at 172.5 million, well above the 160.9 million in that age group recorded in the 2010 census.”



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