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The total amount of US household debt in the third quarter reached a record 13.5 trillion dollars, an increase of 1.6%. The amount of debt is 65% of US GDP. This was announced by the Federal Reserve Bank of New York, noting that the growth rate in this period was the most significant since 2017. The growth rate has been noted for 17 consecutive quarters amid a rise in mortgage lending for the population. In the third quarter, the amount of car outstandings increased by $9 billion, also reaching a record of 1 trillion 240 billion dollars. US citizens increased credit card debt by $15 billion to $844 billion.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
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 ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
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