Overseas Headlines – October 6, 2020

United States:

U.S. Trade Deficit Widened in August to Largest Since 2006

“The U.S. trade deficit widened in August to the largest since 2006 on a further increase in imports as companies responded to stronger domestic demand amid lean inventories. The nation’s surplus in services shrank to the lowest since 2012. The overall gap in trade in goods and services expanded to $67.1 billion in August from a revised $63.4 billion in July, according to Commerce Department data released Tuesday. The median estimate in a Bloomberg survey of economists had called for a widening to $66.2 billion. The positive balance on services dropped to $16.8 billion.”



Spain’s Emergency Wage Support May Be Extended Yet Again in 2021

“Spain is prepared to extend its furlough program beyond January, Social Security Minister Jose Luis Escriva said, in the clearest statement yet on the future of the wage-support policy. “We stand ready to reevaluate the situation,” Escriva said in an interview on Monday with Bloomberg News, one week after the government agreed to prolong its previous aid measure through Jan. 31. “A lot will depend on a vaccine.” A further extension could protect hundreds of thousands of at-risk jobs in a country that already has one of the region’s highest rates of unemployment and which is also suffering one of its most dramatic coronavirus outbreaks.”



India’s Central Bank to Resume Rate Meeting With New Panel

“The Reserve Bank of India will hold its delayed policy meeting this week after the government belatedly appointed new members to the interest rate-setting committee. The Monetary Policy Committee will meet Oct. 7-9, the RBI said in a statement Tuesday, more than a week later than originally planned. The RBI’s statement came after the Finance Ministry’s announcement on Monday of three new external members to the committee to replace those whose terms expired in August.”



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