US trade deficit shrinks as exports to China surge April 17, 2019 The US trade deficit narrowed again in February, the government said today, reaching its lowest figure in seven months as the Trump administration continues to wage tariff wars around the globe. Read more: EU trade in goods surplus with US increases as economic tensions rise The goods trade deficit with China decreased by 28 per [...]
‘Wake-up call’: Germany downgrades 2019 economic growth forecast to just 0.5 per cent April 17, 2019 The German government today once again slashed growth predictions for its economy, saying it now foresees a GDP increase of just 0.5 per cent in 2019, compared to the 2.1 per cent it predicted a year ago. Read more: Eurozone manufacturing sector contracts with Germany shrinking fastest Economy minister Peter Altmaier said new car emissions [...]
EU threatens $20bn of tariffs on US goods from ketchup to helicopters April 17, 2019 The European Union has threatened to slap $20bn (£15.3bn) worth of tariffs on American goods in retaliation for possible tariffs from the US, as the long-running conflict over aircraft subsidies continues. Read more: US threatens tariffs on $11bn of EU goods The European Commission today said it could tariff everything from rum and ketchup to tractors and helicopters, [...]
EU trade in goods surplus with US increases as economic tensions rise April 17, 2019 The European Union’s trade in goods surplus with the US grew in January and February compared to a year earlier, a development that could further raise tensions with the Trump administration. Read more: EU officials given go-ahead to negotiate with Trump on tariffs Meanwhile, the EU’s trade in goods deficit with China increased, driven by [...]
UK inflation rate holds steady at 1.9 per cent sending Britons’ real wages higher April 17, 2019 The UK’s headline annual inflation rate remained unchanged in March, staying at 1.9 per cent, meaning Britons’ real wages are increasing as pay growth outstrips price rises. Read more: London house price plunge drags down UK-wide growth rate Meanwhile the inflation rate including housing costs and council tax stayed at 1.8 per cent, where it [...]
The socialism delusion ensures the survival of this toxic ideology April 17, 2019 Soscialism was declared dead after the collapse of the Soviet Union and the eastern bloc states in the early 1990s. Now, it is experiencing a renaissance in many western countries. Jeremy Corbyn proudly describes himself as a socialist. John McDonnell embraces Marxism as being, as he put it at a 200th birthday celebration for Karl [...]
Britain is more optimistic about Brexit than gloomy economic forecasts suggest April 17, 2019 The International Monetary Fund (IMF) is up to its usual tricks. Last week, it predicted a two-year recession in the UK in the event of a no-deal Brexit. Even in the main forecast, involving a mild Brexit, GDP was projected to grow by only 1.2 per cent this year and 1.4 per cent in 2020. These [...]
Government provides £200m for small firms as Brexit threatens EU funding April 17, 2019 The UK government has handed over £200m to help support smaller businesses in the 2019-20 financial year as the future of European Union funding remains uncertain. Read more: No-deal planning programme extended due to later Brexit date The Treasury announced today that it has made the cash available to the British Business Bank, which provides [...]
The UK’s booming job creation calls for more workers April 17, 2019 Another blistering set of figures emerged from Britain's jobs market yesterday, with employment soaring to a fresh record high and joblessness sinking to its lowest level since the mid-70s. A further 179,000 people entered employment in the three months to February, the Office for National Statistics said, up by nearly half a million on the [...]
German investors more optimistic thanks to Brexit delay April 16, 2019 Investors are more optimistic about the struggling German economy than they were a month ago, in a sign that Europe’s biggest economy may be about to turn a corner. Read more: Eurozone manufacturing sector contracts with Germany shrinking fastest German research institute ZEW’s monthly survey of sentiment among analysts swung into positive territory for the [...]