Growth in Latin America and the Caribbean is expected to decelerate sharply in 2023. The World Bank projects GDP in the region to increase by 1.3 percent before recovering somewhat to 2.4 percent in 2024. The multilateral agency says the slowdown reflects efforts by monetary authorities to reduce inflation and spillovers from a weak global outlook. The bank says sluggish […]
Jamaica’s tourism earnings are expected to be “significantly higher” this year, exceeding pre-COVID-19 levels, says Tourism Minister, Hon. Edmund Bartlett. “We are looking now at earning in excess of US$4 billion this year, which would exceed 2019 figures by US$500 million to US$600 million,” he noted. He said that visitors’ arrival, including from cruises, are projected to be above three million, which is similar […]
Africa is said to be the cradle of civilization. The wealth of its natural resources is mind-blowing, but one would not readily recognize it given the level of poverty that prevails within the continent. With 54 countries on the continent, significant growth has occurred over the years. Today, some of these countries have risen above their expected growth rate performance, […]
China’s economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers. Gross domestic product (GDP) fell by 2.6% in the three months to the end of June from the previous quarter. Major cities across China, including the major financial and manufacturing center Shanghai, were put into full or partial lockdowns during this […]
Saudi Arabia records its fastest economic growth rate in a decade as the oil sector fuels a 9.6 percent rise in the first quarter. Saudi Arabia’s economy has registered a nearly 10 percent rise in its first-quarter compared to the same period last year thanks to high global crude prices. The world’s largest oil exporter reported its fastest economic growth […]
GDP per capita: $131,781.72GDP: $84.07 billionPopulation: 632,275Avg. life expectancy at birth: 82.4 years Luxembourg is a small country located between Belgium, France, and Germany. Though it has just over 630,000 residents, it is an economic powerhouse. Today, the country ranks amongst the most important financial centers in the world, although till the early 20th century, its economic fate was intrinsically linked to the […]
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 […]
The Organization for Economic Cooperation and Development (OECD) is predicting that a robust recovery in China should help global GDP recover to pre-pandemic levels by the end of next year. The OECD released its latest forecasts in a report recently. The organization’s chief economist Laurence Boone says progress with vaccines and treatment have lifted expectations and uncertainty has receded. But […]
China’s economy is bouncing back and is described as a “V-shaped recovery,” — a quick and sustained recovery in measures of economic performance after a sharp economic decline. The world’s second-largest economy performed much better than analysts expected as reports show a rapid turnaround in the second quarter as coronavirus lockdowns were eased, allowing factories, shops, and restaurants to resume […]
Weak demand is forcing U.S. employers to now lay off workers, keeping new applications for unemployment benefits extraordinarily high. This move comes against the backdrop of businesses’ collective outlook that the COVID-19 pandemic could persist longer than expected. A resurgence in confirmed coronavirus cases across the country, linked to the reopening of businesses, is also dimming the outlook. Roughly 29 […]
