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An already-dim near-term U.S. economic outlook has grown murkier in the recently-conducted Reuters poll of economic analysts. Though recuperation is still possible, the U.S. economy may take a long time to fully regain its momentum.
Recent records indicated the colossal damage of the coronavirus pandemic, with 4.4 million diagnoses worldwide and the U.S. unemployment rate hitting a 14.7% record last month. The reading came to be the most extreme record, beating the 10.8% surge monitored in November 1982.
U.S. gross domestic product (GDP) was forecast to decline to an unprecedented 35.0%, following a contraction of 4.8% in the first quarter. The current forecast placed above the previous prediction of 30.0% in April and may advance further to 41.5% should the pandemic brought in more economic disruptions.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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