Connect with us

Economy

Charting Global Economy: Inflation Shows Few Signs of Cooling – Financial Post

Published

 on


Article content

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

Global inflationary pressures show few signs of moderating and more central banks are scrambling to temper them.

In the U.S., consumer prices rose last month at the fastest annual pace in three decades, while Germany’s council of economic advisers indicated risks of persistent inflation are growing as supply chain woes drag on and energy costs rise. Producer prices in China increased by the most in 26 years.

Advertisement

Article content

Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:

U.S.

Consumer prices rose last month at the fastest annual pace since 1990, cementing high inflation as a hallmark of the pandemic recovery and eroding spending power even as wages surge. The pickup suggests higher inflation will be longer-lasting than previously thought, putting pressure on Federal Reserve officials to end near-zero interest rates sooner than expected and potentially to quicken the pace of tapering.

A quarter of U.S. workers are considering a job change or retirement in the next 12 to 18 months, pointing to further churn in the labor market, according to a survey by Principal Financial Group Inc.

Advertisement

Article content

Residents of the Atlanta area are experiencing the worst inflation among major U.S. cities, with October prices up 7.9% from a year ago — more than double the rate in San Francisco. The St. Louis and Phoenix metro areas also saw inflation above 7% last month, data from the Bureau of Labor Statistics show.

Europe

Germany’s council of economic advisers urged the European Central Bank to publish a strategy for normalizing its ultra-expansive monetary policy in light of building inflation risks. The four-member group sees inflation in the euro-area’s largest economy averaging 3.1% in 2021 and 2.6% in 2022, and warned that persistent supply-chain logjams and rising fuel prices could turn temporary factors into lasting higher rates of inflation.

Advertisement

Article content

Asia

China’s inflation risks are building as producers pass on higher costs to consumers, reigniting a debate over whether the central bank has scope to ease monetary policy to support a weakening economy. The producer price index climbed 13.5% from a year earlier, the most in 26 years, data from the National Bureau of Statistics showed Wednesday. The consumer price index rose 1.5%, the largest gain since September 2020.

Emerging Markets

Hungary’s inflation neared the highest level in almost a decade, making it harder for the central bank to stick to its go-it-slow approach to monetary tightening.

Mexico’s central bank raised interest rates by a quarter point for its fourth consecutive meeting, sticking to a steady adjustment pace even as inflation accelerated faster than expected.

World

The secondhand economy is going mainstream and it’s not just for the thrifty anymore. The online retail market for pre-owned merchandise this year is expected to surpass $65 billion, an all-time high for the industry, according to a survey from Mercari Inc., an e-commerce site.

©2021 Bloomberg L.P.

Bloomberg.com

Advertisement

Comments

Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

Adblock test (Why?)



Source link

Continue Reading

Economy

Mindset Matters: The Responsibility Of Corporate Behavior In Magnifying The Disability Economy – Forbes

Published

 on


Through a series of columns starting with the previous Mindset Matters piece, the hope is to open a dialogue around the significance of the emerging Disability Economy and discover some of the intricacies that are key to its very growth. As we mine deeper into this burgeoning economy of identity it is critical to recognize that this very concept is not static, but rather filled with complexity and nuances that must be explored further. If companies are going to truly embrace disability inclusion as a key stakeholder within their leadership strategy and a central theme to their long-term business success, then they must integrate key areas of knowledge that are essential to adopting a framework that radiates true disability confidence.

Corporations who choose to participate in this budding Disability Economy must understand the holistic nature of what needs to be done. A good starting point is to acknowledge the fact that the disability community is diverse, that the lived experience of disability cannot be seen through one lens, rather it must be seen through a diversity of perspectives that offer organizations a multitude of opportunities. Corporate leadership should have an awareness that while the Disability Economy is continuing to grow, it is ephemeral, in that it will continually change with each generation and each situation demanding new requirements that necessitate innovative ways of thinking and operating. It is this very awareness that will be critical for organizations to foster greater economic opportunities within this uncharted space.

So, what do businesses need to know? Corporate leadership must understand that to honestly immerse themselves within the Disability Economy in an authentic way they must identify with the value of needs. It is this understanding that must become the fundamental building block for corporate leaders to work on as they move forward while embracing disability into their business strategy. The value of needs is based on the notion that amplifying soft skills such as listening, trust, and empathy are central to pushing past barriers that are critical to gaining access to this new marketplace. 

The adage “Nothing About Us, Without Us” cannot be far from the mind of any corporate leader who is engaging in the disability space. For any corporate leader to be involved in the Disability Economy, one must begin with a level of trust. No matter what the product or service, having buy-in from the disability community is essential to the process. Understanding the communities’ needs is imperative, but it is also the first salvo in starting an ongoing dialogue between corporate entities and the disability community themselves. It is through this process that the potential for real evolution can happen, and new products and services can have real meaning within this growing market. 

As corporate leaders realize the value of need, the next step is making them habitual. The role of need must become an essential calling card for any organization doing business within the Disability Economy. It is not only critical for larger corporations but has value across many other branches of the emergent Disability Economy from entrepreneurship, social investors, to nonprofit organizations, and even government and educational institutions. These are topics that we will investigate further in future columns, but for the moment it is important to acknowledge the role behaviors play in expanding economic opportunities by celebrating the value of both the individual and the collective to shape the reality of the future.

Corporate leaders say they want to “do the right thing”, yet the question lies not just in the want, but the how. It is time for organizations and their leadership teams to be vulnerable and recognize that it is okay not to know. By identifying the needs of others to become a part of the habit of daily business life gives corporate leaders the flexibility to not only be prepared for change but move beyond a level of unconscious bias that offers a continuous mode of learning that will impact business both socially and economically creating opportunities for true disruption that can recalibrate the culture of business for the next century.

Adblock test (Why?)



Source link

Continue Reading

Economy

Japan economy contracts 3.6% in 3Q as virus hits spending – Yahoo Canada Finance

Published

 on


TOKYO (AP) — Japan’s economy contracted at a 3.6% annual rate in July-September as a wave of coronivirus infections crimped travel and other activities, the government said Wednesday.

The estimate for the last quarter, downgraded from an earlier report of a 3.0% contraction, reflected weakness in consumer spending and trade, the government said.

In quarterly terms, the measure used for most economies, the economy contracted 0.9%, compared to the earlier estimate of a 0.8% contraction.

The world’s third-largest economy was in a slump before the pandemic hit. Its recovery has been fitful thanks to precautions taken to curb COVID-19 infections. Troubles with supply chains, especially for computer chips used in autos, have also taken a toll.

Japan’s latest big coronavirus outbreak, in the late summer, has receded for now with a sharp drop in cases. But it hit during the usually busy summer travel season, with calls for restricted business activity and travel hurting restaurants, hotels and other service sector industries.

Consumer spending is recovering and will likely drive a recovery in the current quarter, Norihiro Yamaguchi of Oxford Economics said in a commentary.

“With supply chain disruptions easing in the auto sector, production and exports are also projected to recover, albeit at a moderate pace,” he said.

The latest data showed a lower level of private inventories than earlier reported and weaker government and consumer spending. It also showed wages contracted by 0.4%, instead of growing by 0.1% as earlier reported.

Japan’s Cabinet has approved a record 56 trillion yen, or $490 billion stimulus package, including cash handouts and aid to ailing businesses, to help the economy out of the doldrums worsened by the coronavirus pandemic. Parliamentary approval of the plan is expected this month.

The Associated Press

Adblock test (Why?)



Source link

Continue Reading

Economy

The global economic transition to a green economy – Lombard Odier

Published

 on


Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information

Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers. We work with third parties and make use of third party cookies to make advertising messaging more relevant to you both on and off this website.

Adblock test (Why?)



Source link

Continue Reading

Trending