world economy

by hellenicshippingnews… on 18 November 2024 at 11:00 am

With Donald Trump’s imminent return to the U.S. presidency looming over the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Chinese President Xi Jinping said on Friday that unilateralism and protectionism needed to be rejected in favour of economic globalization. Xi’s critique of protectionism at APEC offers a preview of how China will seek to position …

by hellenicshippingnews… on 18 November 2024 at 11:00 am

The euro zone economy will be hit with tariffs from the incoming U.S. Trump administration early next year, according to a majority of economists polled by Reuters, all but ensuring a series of interest rate cuts from the European Central Bank. President-elect Donald Trump’s proposed across-the-board tariffs will have a significant effect on the euro …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Goldman Sachs Research forecasts another solid year of global economic growth in 2025. Our economists project the US will outperform expectations while the euro area lags behind amid fresh tariffs that are anticipated from the Trump administration. Worldwide GDP is forecast to expand 2.7% next year on an annual average basis, just above the consensus …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Strong U.S. economic and inflation data continue to reshapethe debate among Federal Reserve policymakers over the pace and extent of interest rate cuts as investors on Fridayfurther downgraded their expectations for a rate reduction at the central bank’s December meeting. In the latest round of comments on U.S. monetary policy, U.S. central bankers continued to …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

“Trade remains a key policy tool in the poorest economies to harness development”, said Assistant Secretary-General Junior Lodge of the Organisation of African, Caribbean and Pacific States during a recent event hosted by UN Trade and Development (UNCTAD). The event showcased a new UNCTAD report calling for updating and expanding trade preference schemes to reflect …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Federal Reserve Bank of Boston President Susan Collins said on Friday that uncertainty over the economic outlook limits what kind of guidance can be given about the outlook for monetary policy. “We are well positioned” when it comes to monetary policy and given the unpredictability of the near-term economic outlook, “this isn’t really a moment …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Consumers just keep on spending US retail sales rose 0.4% month-on-month in October, a touch higher than the consensus 0.3% MoM expectation while September’s growth rate was revised up to 0.8% from 0.4%. A big 1.6% MoM increase in autos was the main factor, but building materials (+0.5%) and restaurants and bars (+0.7%) both contributed …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Now’s not the time to be naive At least it’s over. An election full of superlatives, over-analysis and bombast that would embarrass even the most committed World Cup football commentator. And we have a winner…Donald Trump. Inflation and immigration seem to have been the deciding issues, so we’d expect him to do everything he can …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Strong U.S. economic and inflation data on Friday continued reshaping the debate among Federal Reserve policymakers over the pace and extent of interest rate cuts as investors further downgraded their expectations for a rate reduction at the central bank’s December meeting. In the latest round of comments on U.S. monetary policy, Fed officials continued to …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Euro zone economic growth will pick up in 2025 and 2026 and inflation will continue to slow, the European Commission forecast on Friday, but noted risks to global trade from U.S. protectionism and to energy prices from the Middle East. U.S. President-elect Donald Trump has floated the idea of a 10% or more tariff on …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

Shifts in the U.S. credit environment are possible if Donald Trump’s campaign platform is implemented as proposed, with tariff hikes, tax cuts, immigration restrictions and regulation rollbacks most consequential for credit profiles, Fitch Ratings says in its U.S. Credit Brief 4Q24 report. Policy initiatives may be moderated based on their final form and offsetting effects …

by hellenicshippingnews… on 17 November 2024 at 10:00 pm

A group of conflict-affected countries is pushing at COP29 to double financial aid to more than $20 billion a year to combat the natural disaster and security crises facing their populations, a letter seen by Reuters showed. The group is one of several pitching at the climate talks in Azerbaijan this week for funds to …

by hellenicshippingnews… on 17 November 2024 at 6:00 pm

Federal Reserve Bank of Chicago President Austan Goolsbee signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year, as Fed policymakers projected in September . “I think we are going to be looking …

by hellenicshippingnews… on 17 November 2024 at 6:00 pm

China on Friday reported strong growth in retail sales and a decline in real estate investment in October, signaling that the country’s recent stimulus push has already worked to bolster certain sectors of its flagging economy. Retail sales grew by 4.8% year-on-year, the National Bureau of Statistics said Friday. That was above the 3.8% forecasted …