Tag: economy

BUSINESS

China’s Economy Shows Sign Of Slowing Down

Following the sharp rebound from the coronavirus pandemic by the Chinese economy it has now slowed, according to press reports. Gross domestic product (GDP) increased by 7.9% in the second quarter of 2021 compared to the same time last year. However, this was a reduction in quarter over quarter and missed economists’ forecasts of 8.1% growth. In April, official figures […]

Jamaica

Jamaica’s Economy Takes A Big Hit

According to the Planning Institute of Jamaica (PIOJ), the Jamaican economy contracted by 5.7% in the January to March quarter compared with the corresponding period in 2020.  PIOJ Director General Dr. Wayne Henry says this out-turn continues to reflect the impact of the global pandemic. However, there has been a gradual tempering of the rate of contraction as indicated by […]

BUSINESS

U.S. Economy Bounces Back

The US economy continued to recover in the first three months of the year as businesses reopened and the government spent heavily on COVID-19 relief for citizens. The economy grew at an annualized rate of 6.4% in the quarter, up from 4.3% in the final three months of 2020. The US economy is rebounding faster than expected after contracting sharply […]

BUSINESS

The U.S. Sees Rebound In Employment

As vaccination ramps up and relaxation in the COVID-19 protocol, more businesses have brought back workers resulting in a surge in the employment numbers in the U.S. Employers added 379,000 jobs in February, breaking a two-month streak of minimal gains. The growth was stronger than analysts had expected, but the activity did not significantly dent the jobless rate. It dipped […]

BUSINESS

China Targets Six Percent Economic Growth

China is aiming for an economic growth rate above six percent in 2021, after scrapping its target last year. China’s Premier announced its latest target at the opening of this year’s National People’s Congress. The target marks a return to strong growth after the COVID-19 pandemic impacted the world’s second largest economy. Although China’s economy grew last year, it only […]

Jamaica

BOJ Governor — Jamaica On Path To Economic Recovery

Bank of Jamaica (BOJ) Governor, Richard Byles, has stated that Jamaica is on the path to economic recovery following the devastation of the economy brought about by the coronavirus pandemic. Byles pointed to the foreign exchange market inflows, adequate reserves, a sustainable balance of payments position, and the containment of inflation within the Bank’s 4-6 percent target range, as degree […]

NEWS

Cuba Opens Economy To Private Sector Expansion

Cuba announced a substantial increase in private business activities in various sectors, implying a significant reform in this socialist country where the state and its enterprises dominate the economy.  The move comes at a critical time for the island’s economy, which contracted 11% last year due to the coronavirus pandemic, tightening U.S. sanctions, and the delay in implementing reforms approved […]

Jamaica

Jamaica To Continue Assessment Of COVID-19 Economic Impact

Following a projected, 10-12 percent economic contraction for the fiscal year 2020-21 in Jamaica’s economy, the Minister of Finance and the Public Service, Dr. Nigel Clark, said that the Government would continue to assess the extent of the economic impact on Jamaicans to determine whether to extend additional financial assistance to those adversely affected. The Administration previously initiated a $25 […]

BUSINESS

U.S. Economy Shows Sign Of An Early Bounce Back

U.S. employment growth rebounded moderately in January and job losses in the prior month were deeper than initially thought, strengthening the case for a sizable relief package from the government to aid the recovery from the COVID-19 pandemic. The Labor Department’s closely watched employment report on Friday showed job losses in manufacturing and construction, two sectors which have been propping […]

BUSINESS

The U.S. Economy Decreased 3.5 Percent Last Year

The U.S. economy contracted by 3.5 percent last year but performed better than expected and fared better than many other countries. The COVID-19 pandemic has ravaged the U.S. economy, putting many businesses at a standstill, and killing over 430,000 people. Growth in the economy slowed in the last quarter, amidst the resurgence of virus cases, which prompted further setback in […]