Economy

ACE Report: Economy is ‘inching forward’ this year

The seven counties of Northeast Ohio added 943 jobs in February, a modest number, but the second straight month of job increases, according to the Ahola Crain’s Employment (ACE) Report. Year-over-year, payrolls were up by 5,422 jobs on a seasonally adjusted basis, a 0.46% increase. February payrolls for the Cleveland Akron Metropolitan Area equaled 1,180,415 on a seasonally adjusted basis. ... Read More »

By shifting perceptions, Trump’s already boosting the economy

Perceptions matter. People make decisions, even life-altering decisions, based on what they perceive as likely to happen. To the extent that public policy affects such decisions, the perception of likely policy change can affect behavior even before the change happens. Something like that seems to be happening in America — and around the world. In the two months since President ... Read More »

China’s Economy Is Set for Steady Growth

A boy holds a toy his father bought for him as they exit a toy store in Beijing on January 18, 2017. China’s growth slipped to its slowest rate in more than a quarter of a century in 2016, an AFP survey has forecast, as analysts see mounting risks for the world’s number two economy with Donald Trump heading for ... Read More »

If the US economy is going to grow faster, the US budget deficit has to rise: Strategist

Need policy action for markets to get to next level: Pro  Tuesday, 21 Feb 2017 | 6:07 AM ET | 02:18 The U.S. economy cannot grow faster without its budget deficit rising, either through increased spending or lower taxes, according to one investment strategist. But getting there won’t be politically easy. The “fiscal deficit has to widen. If it doesn’t widen, ... Read More »

UK economy to slow down, says European Commission

The UK economy will slow down sharply over the next couple of years says the European Commission. Its latest forecast says the UK economy will grow by just 1.5% this year and by 1.2% in 2018, compared to 2% last year. The Commission says the slowdown is prompted by uncertainty following last June’s Brexit vote in the UK. By contrast, ... Read More »

Rupee good run continues, gains 4 paise against dollar

The rupee’s good run continued into the 8th straight session today as it firmed up by another 4 paise in early trade to 67.33 against the dollar after the US currency saw higher selling by exporters and banks amid foreign fund inflows. Forex dealers said the weakness in the greenback against other currencies overseas and a higher opening in the ... Read More »

UK inflation rate fell to 0.9% in October

UK inflation registered a surprise fall in October, although there were signs that the pressure on consumer prices is starting to build. The Consumer Prices Index (CPI) slipped to 0.9%, from 1% in September, the Office for National Statistics said. That was below the 1.1% predicted by economists, who said sterling’s fall would push October’s CPI higher. However, the ONS ... Read More »

German economy slows in third quarter

Germany’s economic growth slowed in the third quarter of the year, dented by weaker exports, figures have shown. Europe’s largest economy grew by 0.2% between July and September, half the 0.4% rate seen in the previous three months. This was slower than economists had expected and well below the 0.7% rate recorded in the first quarter. “The development of foreign ... Read More »

The economics of a £10 an hour living wage

John McDonnell promised he would reveal a new “interventionist” underpinning to Labour’s economic policy. And the shadow chancellor did not disappoint. New rules on takeovers to guarantee pay and pension payments, a doubling in size of the co-operative sector by giving workers rights to own businesses at the point of change of ownership or closure, bringing back “sectoral” collective bargaining ... Read More »

China slowdown is global economy’s biggest threat, Rogoff says

The former chief economist of the International Monetary Fund has told the BBC a slowdown in China is the greatest threat to the global economy. Ken Rogoff said a calamitous “hard landing” for one of the main engines of global growth could not be ruled out. “China is going through a big political revolution,” he said. “And I think the ... Read More »