Tag: growth

BUSINESS

China’s Economy Sees Record Growth

China’s economy has shown growth rate of 18.3% in the first quarter of 2021 compared to the same quarter last year. It’s the biggest jump in gross domestic product since China started keeping quarterly records in 1992. However, the figures are below expectations, with a Reuters poll of economists predicting a 19% growth. Reports also suggest the figures are heavily […]

NEWS

IMF Warns

The head of the International Monetary Fund (IMF) has warned that the coronavirus pandemic will turn global economic growth “sharply negative” this year. Kristalina Georgieva said the world faced the worst economic crisis since the Great Depression of the 1930s. She forecast that 2021 would only see a partial recovery. Lockdowns imposed by governments have forced many companies to close […]

Jamaica

Lee-Chin — Government Paying Lip Service To Divestment

Michael Lee-Chin, Chairman of the Economic Growth Council, (EGC) is unhappy with the government slow approach to divesting its under-performing assets. He said the reluctance is causing lower than expected economic growth. The EGC was set up to advise the government on a framework of proposed initiatives along with sub-initiatives that are expected to yield five percent growth by 2020. […]

NEWS

China’s Economy Shows Slowest Growth Rate In Over Two Decades

China’s economy has shown its slowest pace in growth rate in over twenty years as a trade war with the U.S. and weakening global demand has negatively impacted the country’s economy. China’s gross domestic product shows an increase of 6.4 percent in the fourth quarter from a year ago, keeping in line with economists’ estimates. The rate, however, was a […]

Jamaica

Jamaica’s P. M. Not Impressed

Prime Minister Andrew Holness says he is not impressed with the latest growth figures. In 2016, Mr. Holness, and the Economic Growth Council (EGC) had set initiatives to put Jamaica on a path of higher and sustained growth that was said at the time would benefit the poor and vulnerable. The declaration of intent back then was for a five […]

BUSINESS Commerce Social media

U.S. Economy Continues To Show Strength

The U.S. economy has shown a third-quarter annualized growth of 3.5 percent this year. However, this reflects a change in the momentum shown earlier when the rate was trending at a second-quarter pace of 4.2 percent. That said, the economy bettered the 3.3 percent expansion projected by economists. The U.S. Commerce Department highlighted the fact that strong consumer and government spending […]

NEWS

IMF — Jamaican Government Could Lose Public Support

The Board of the International Monetary Fund (IMF) has warned that the Jamaican Government could lose public support for its economic program if steps are not taken to address the economic and social malaise within the country. In its recent review of Jamaica’s performance under the Stand-by Agreement, the agency noted that the government met all quantitative performance criteria and […]

BUSINESS Commerce

China’s Economy Continues To Gallop

China’s economy continues to show solid performance given its growth rate of 6.8% in the first quarter compared to the same period last year, according to official data, beating forecasts for the period. The growth rate for January to March was also above government’s 6.5% projection. The data shows resilience in the world’s second-largest economy, helped by strong consumer demand. […]

BUSINESS Commerce

China’s Economy Picks Up Momentum

China’s economy grew by 6.9 percent in 2017 according to official data — the first time in seven years the pace of growth has picked up. The figure beats Beijing’s official annual expansion target of about 6.5 percent. China is a key driver of the global economy and so the better-than-expected data is likely to cheer investors around the world. […]

NEWS

China Seeks Economic Growth By Cutting Import Tariffs

In an effort to drive economic growth, China has announced its cutting of import tariffs on a wide range of consumer goods including cashmere clothing, whiskey, avocados, mineral water, baby carriages, among many others. China has recently come under pressure from many countries including the United States and the United Kingdom for easier access to its domestic market. The cut […]