Economy

Global economy seeing sharper V recovery, raising case for inflation: Morgan Stanley – The Guardian

Published

4 years ago

September 8, 2020

TOKYO (Reuters) – The global economy is likely to recover to pre-pandemic levels by early next quarter, about three months earlier than previously expected, economists at Morgan Stanley said.

“The evidence indicates that the virus/economy equation has shifted decisively from the early days of the outbreak,” they said in a note to clients, saying that the recovery has continued to gather momentum as countries get better at managing the virus.

The U.S. economy could reach its pre-COVID 19 levels by the second quarter of next year, while the entire developed markets could reach that level by the third quarter of next year, they said.

Coupled with unprecedented levels of fiscal and monetary support and possible disruptions to trade, the prospective recovery is likely to be accompanied by stronger inflation, they said.

(Reporting by Tokyo Markets Team; Editing by Kim Coghill)

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Economy

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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