Economy

IFO says though economy has slowed slightly, state finances are stable

(Harrisburg) — Ahead of next month’s state budget negotiations, Pennsylvania’s Independent Fiscal Office has released a report reassuring lawmakers that revenues are stable. They came in nearly $900 million higher than expected for the fiscal year ending next month. Most of that money, however, is spoken for. At least some will likely go toward gaps in this year’s budget from hundreds of ...

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Singapore’s economy slows to decade low as trade war bites

Singapore’s annual economic growth slipped to the lowest in nearly a decade in the first quarter as manufacturing contracted in the wake of a protracted US-China trade war, prompting a downgrade to the Southeast Asian country’s full-year growth forecast. Gross domestic product (GDP) expanded 1.2 percent year-on-year in the three months ending March 31, final official data showed on Tuesday, ...

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Colombia Holds Key Rate at 4.25% as Recovery Needs Support

Colombia left its benchmark interest rate unchanged as policy makers remain wary of derailing the weak, jobless recovery by raising borrowing costs too soon. The seven-member board voted unanimously to leave the policy rate unchanged at 4.25 percent for a twelfth straight month, bank Governor Juan Jose Echavarria said Friday after the meeting. The decision was forecast by all 24 ...

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Indonesia to launch Sharia Economy Masterplan in May

The government plans to launch the 2019-2024 Sharia Economy Masterplan on May 14, as a road map for the development of the sharia economy to support national economic development in the country that has the largest Muslim population on the planet. The masterplan draft highlights four main strategic recommendations to develop the sharia economy in the country – strengthening halal ...

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America’s strong growth this year surprises economists

THIS YEAR America’s economy did not get the freshest of starts. A government shutdown, a wobbly stockmarket and concerns that the Federal Reserve would tighten monetary policy too quickly made for a dim outlook for 2019. With the effects of fiscal stimulus fading, and momentum in the global economy ebbing, most expected America’s economic growth to decelerate. So GDP figures ...

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US Oil Sees Growing Reach

wo cargoes of U.S. crude oil have been booked to sail to Australia, trade sources and data companies said, highlighting the increasing global reach of exports from the United States. Aframax tanker Esther Spirit loaded U.S. oil in early April at Enterprise Houston Terminal and is scheduled to discharge at Kwinana in Western Australia on May 20, ship-tracking data from ...

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China’s economy is fine, Trump and Xi won’t fight a trade war and the Fed is a friend

China’s economy is fine, U.S. President Donald Trump and ChinesePresident Xi Jinping won’t fight a trade war and the Federal Reserveis a friend. That’s what I think of the three main issues worrying the financial markets. Let’s begin with a test about the state of China’s economy. Does China have an inflation problem? No, the reported headline price inflation in December was 1.9 percent. That’s what hits the ...

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Chinese growth is more of a concern than the American economy right now, private bank says

The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank. Speaking to CNBC on Friday, Felix Brill, the head of investment solutions at Liechtenstein-based VP Bank, said investors should expect more market volatility due to the ongoing trade war negotiations between Washington and Beijing. Still, he ultimately expressed optimism that China’s leaders ...

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Gundlach Warns U.S. Economy Is Floating on ‘an Ocean of Debt’

Jeffrey Gundlach said yet again that the U.S. economy is gorging on debt. Echoing many of the themes from his annual “Just Markets” webcast on Tuesday, Gundlach took part in a round-table of 10 of Wall Street’s smartest investors for Barron’s. He highlighted the dangers especially posed by the U.S. corporate bond market. Prolific sales of junk bonds and significant growth in ...

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If the shutdown lasts two more weeks, the cost to the economy will exceed price of Trump’s wall

If the government shutdown lasts another two weeks, the total cost to the U.S. economy would exceed the price of building the proposed border wall. According to an estimate by S&P Global Ratings, it will only take another two weeks to cost the economy more than $6 billion, exceeding the $5.7 billion that President Donald Trump demanded to fund his proposed border ...

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