United States:
U.S. Merchandise-Trade Gap Grows as Consumer-Goods Imports Rise
“The U.S. merchandise-trade deficit widened in August as an increase in foreign-made consumer goods allowed imports to outpace exports. The gap increased to $87.6 billion last month from a revised $86.8 billion in July, according to Commerce Department data released Tuesday. The median estimate in a Bloomberg survey of economists called for an $87.3 billion shortfall. The figures aren’t adjusted for inflation.”
Europe:
Europe’s Giant Job-Saving Experiment Pays Off in Pandemic
“Europe’s biggest welfare experiment of modern times is starting to look vindicated. The region’s defining crisis response, of supporting people in jobs even when they’re not working due to the pandemic, has stood the test of 19 months of unprecedented emergency. With the U.K. ending its so-called furlough program this week, the balance of evidence so far suggests such policies averted pain for employees without delaying necessary economic renewal.”
Asia:
China’s Industrial Profit Growth Slowed Further in August
“Profit growth at China’s industrial firms continued to slow in August as high commodity prices pushed up costs while constraints including virus outbreaks and a chip shortage curbed production. Industrial profit growth decelerated to 10.1% in August from a year earlier, the slowest pace since last September, the National Bureau of Statistics said Tuesday, compared with a 16.4% increase in the previous month. For the first eight months of the year, profits climbed 49.5% from a year earlier.”
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