Colombia central bank technical team sees higher interest rate than market

General view of Colombia’s central bank in Bogota, Colombia October 9, 2019. REUTERS/Luisa Gonzalez/File Photo Register now for FREE unlimited access to Reuters.com Register BOGOTA, Aug 3 (Reuters) – The technical team of Colombia’s central bank is predicting a higher benchmark interest rate than that projected by the market because of increased inflationary pressures and … Read more

BofA lowers 2023 forecast for Mexico economy, cites potential recession

A vendor chats with a customer at a stall in an outdoor market in Mexico City, Mexico January 23, 2022. REUTERS/Luis Cortes/File Photo Register now for FREE unlimited access to Reuters.com Register MEXICO CITY, Aug 3 (Reuters) – Bank of America has downgraded its 2023 growth forecast for Mexico’s economy to 0% from 1% amid … Read more

Schumer-Manchin Throws the Book Tax at US Companies

Don’t be fooled by the name. While the latest proposal from Senate Democrats to raise taxes and spend more taxpayer money is called the Inflation Reduction Act, it would actually do the opposite. The nonpartisan Joint Committee on Taxation estimates the bill would hurt Americans in every income bracket, with more than half the new … Read more

Thai business group sticks by GDP outlook despite inflation risk

2022 GDP growth forecast maintained at 2.75%-3.5% Sees 2022 exports up 6%-8%; foreign tourists at 7-8 mln Expects c.bank to raise rates next week BANGKOK, Aug 3 (Reuters) – Thailand’s economy is still expected to grow 2.75% to 3.5% this year, helped by increased exports, more tourists, and government support, but faces rising inflationary pressures, … Read more

The Opposition and Finance Minister Are Comparing Apples and Oranges

In a debate on the economy in Parliament this week, opposition parties kept their focus on back-breaking inflation, rising unemployment and shrinking real incomes, even as finance minister Nirmala Sitharaman maintained that GDP growth was coming back and cited the Goods and Services Tax ( GST) revenue growth of 28% to buttress her case. Sitharaman … Read more

German H1 energy use down 3.5% on slower economy, high prices, weather

Power lines are pictured in front of the Weisweiler brown coal power plant of German utility and energy supplier RWE in Weisweiler near the western German city of Aachen, Germany, January 28, 2020. REUTERS/Wolfgang Rattay/File Photo Register now for FREE unlimited access to Reuters.com Register FRANKFURT, Aug 2 (Reuters) – German primary energy consumption fell … Read more

Hong Kong June retail sales decline at a slower pace

June tourist arrivals soar 563.1% y/y after May’s 252.7% growth June jewellery, watch sales up 2.3% y/y vs May’s 7.7% rise Govt expects spending vouchers to support consumption demand HONG KONG, Aug 2 (Reuters) – Hong Kong’s retail sales in June fell at a slower pace than the previous month, official data released on Tuesday … Read more

Yes, the US Economy Is Likely in Recession by Robert J. Barro

The release of data showing that the US economy has contracted for two quarters in a row has triggered an intense semantic debate among economists, pundits, and political operatives. The Biden administration and many commentators are at pains to deny that the US is in a recession, but history is not on their side. CAMBRIDGE … Read more

Congress Needs To Reverse Course To Improve The Economy

Businessman struggling to move data arrow upwards getty Recession talk has dominated the news lately with an endless supply of pundits debating whether the United States is in a recession. It’s good to have that debate, but virtually everyone seems to have forgotten the incredibly abnormal circumstances fueling the dispute. That’s not to say that … Read more