Global economy recovering from pandemic; higher rates would hurt: IMF steering committee

Global economy recovering from pandemic; higher rates would hurt: IMF steering committee
FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas//File PhotoWASHINGTON (Reuters) - The steering committee of the International Monetary Fund said the global economy is recovering faster than expected from the COVID-19 crisis, but warned that a spike in interest rates could… Read More

German economy is slumping on anti-virus curbs, Bundesbank says

German economy is slumping on anti-virus curbs, Bundesbank says
FILE PHOTO: Picture shows the abandoned Kennedy Square due to the coronavirus disease (COVID-19) pandemic lockdown in downtown Essen, Germany, March 11, 2021. REUTERS/Wolfgang RattayFRANKFURT (Reuters) - The German economy is likely to shrink sharply this quarter as pandemic-fighting curbs hit the services sector and even the booming construction industry slows, the Bundesbank said on… Read More

Mexican economy shrank 4.0% year-on-year in February, estimate shows

Mexican economy shrank 4.0% year-on-year in February, estimate shows
FILE PHOTO: Construction workers work on their job site in Mexico City, Mexico June 1, 2020. REUTERS/Edgard GarridoMEXICO CITY (Reuters) - The Mexican economy contracted by 4.0% in February compared to the same month a year earlier, preliminary official data showed on Thursday.Secondary activities, which include manufacturing, were down 4.2% while tertiary activities such as… Read More

EU economy to rally in second-quarter as vaccine roll-out accelerates: EU executive

EU economy to rally in second-quarter as vaccine roll-out accelerates: EU executive
BRUSSELS (Reuters) - Europe’s economy is likely to rally in the second quarter as an acceleration in COVID-19 vaccine roll-out allows governments to gradually lift lockdown restrictions, the European Commission’s vice president for the economy Valdis Dombrovskis said Monday.FILE PHOTO: European Commission Vice President Valdis Dombrovskis attends a news conference on the coronavirus disease (COVID-19)… Read More

Safe-haven dollar lifted by rise in coronavirus cases

Safe-haven dollar lifted by rise in coronavirus cases
FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration NEW YORK (Reuters) – The U.S. dollar was slightly higher on Wednesday afternoon as evidence of a surge in coronavirus cases in some U.S. states and in Beijing sent investors into safe-haven assets. The... Read More

U.S. homebuilding rises moderately; jump in permits hints at green shoots

U.S. homebuilding rises moderately; jump in permits hints at green shoots
WASHINGTON (Reuters) – U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy. FILE PHOTO: A new apartment building housing construction site is seen in Los Angeles, California, U.S. July 30, 2018. REUTERS/Lucy Nicholson Other... Read More

Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD survey

Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD survey
SINGAPORE (Reuters) – Business sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/INSEAD survey found, with some two-thirds of the firms polled flagging a worsening COVID-19 pandemic as the biggest risk over the next six months. FILE PHOTO: A worker wearing a protective suit takes body temperature measurement of a man inside the... Read More