Delta Hits Economies, US Inflation, China Slowdown: Eco Day – BNN

Published

3 years ago

September 14, 2021

Harry Miller

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

Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.

From the U.S. to China and Germany, latest data are flagging an economic slowdown as the new variant of the coronavirus hits spending just as supply chain snarl ups threaten to keep inflation elevated
Covid inflation is everywhere, but some have more of it than others. Among advanced economies, the U.S. is starting to look like the outlier. U.S. prices are hot, and to divine the future course of Fed policy, and expectations are key, according to Bloomberg Economics’ inflation gauges
Bloomberg Economics expect the Fed to begin tapering in December at a pace of $15 billion a meeting. An earlier move and faster pace would signal the Fed is placing greater emphasis on the risks from high inflation or elevated housing prices
China’s economy likely slowed further in August, with consumption, industrial output and investment data due Wednesday to reveal the extent, but the recent regulatory tightening will cause limited damage to the country’s long-term economic growth and investment prospects, according to Goldman Sachs Group Inc.
In the home of climate activist Greta Thunberg, a key government minister is calling for economic policy to be overhauled to acknowledge the dangerous pace at which the planet is overheating
China urged the U.S. to repair damaged ties as President Joe Biden looks to host the leaders of Australia, India and Japan for talks on issues including countering China’s expanding influence in the Asia-Pacific region
France’s earlier-than-expected economic recovery from the pandemic slump is reviving deep problems in the labor market
Hungary plans to sell dollar and euro bonds amid a potential delay in accessing EU funds because of a dispute over democratic values
The IMF tapped Ilan Goldfajn, chairman of Credit Suisse Group AG in Brazil and an ex-central bank chief, to lead its Western Hemisphere Department
- The Argentine government’s election loss weakens the economy minister’s negotiating power with the IMF
Norway’s opposition Labor Party is on course to oust the Conservative-led government after two consecutive terms in an election dominated by disputes over the Nordic economy’s dependence on fossil fuel

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September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

Published

8 hours ago

November 5, 2024

Anne Joseph

OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

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