Vietnam Retail Sales Grew For the First Time Since February
In the second-quarter of 2020, Vietnam’s GDP grew at the slowest rate in several years due to the negative impact of the Covid-19 panemic. GDP in April-June increased 0.36% y-o-y, compared with an economic growth of 6.73% in the similar
Read MoreUS Personal Income Drops Most in More than 7 Years, While Mexican Economy Contracts 19.9% in April
Mexico’s economy contracted 19.9% y-o-y in April, after shrinking 2.3% in March, but better-than-economists anticipations of a 21.1% decline. It was the fastest contraction in economic activity, against the backdrop of Covid-19 outbreak. Mexico’s economy, which was mainly affected by
Read MoreIMF Says Global Economic Recovery to Pre-Covid-19 Levels Will Take 2-Years
In the US, the average cost of single-family houses whose mortgage is guaranteed by Fannie Mae and Freddie Mac rose 0.2% m-o-m in April, following a 0.1% increase in the earlier month. While the house prices fell 0.5% in the
Read MoreBritish Pound Rebounds From Three Week Low
The pound sterling gained 0.6% against the greenback to trade at 1.2430 after declining to a three month low of $1.2337 in the earlier trading session, backed by a weak greenback, chances of a Brexit trade deal and optimistic economic
Read MoreUS Current Account Deficit Narrows to Lowest Level in Two Years
The dollar index rose to 97.60 versus a bouquet of currencies Friday, near to levels never seen since early June as investors are worried about a second wave of Covid-19 infections and varied economic data unveiled during the week, including
Read MoreUS Building Permits Miss Forecasts, Permits Rebound
In the US, building permits increased 14.4% m-o-m to a seasonally adjusted yearly rate of 1.220 million units in May, following a five-year low in April and slightly below market’s forecasts of 1.228 million units. Single-family authorizations rose 11.9% and
Read MoreChina Retail Trade Declines 2.8% y-o-y in May
China’s retail trade fell by 2.8% y-o-y in May, compared with economists’ estimates of a 2% decline and following a 7.5% decrease in the earlier month. It was the worst decline in retail trade since an increase in December last
Read MoreUK Economy Contracts at Record Pace in April
The UK’s manufacturing production plummeted at record 28.5% y-o-y in April, following a 9.7% decline in March and worse than predictions for a 19.9% decline. The Covid-19 lockdown enforced from March 23rd had a considerable effect on entire economic activity
Read MoreBrazil Inflation Hits 21-yr Low Despite 2234% Rise in Car Production
In May 2020, Brazil’s annual inflation rate declined to 1.88%, from 2.4% in the prior month, but surpassed economists’ forecasts of 1.8%. It was the lowest inflation rate since January 1999, far below the government’s median target level of 4%,
Read MoreJapan Economy Contracts Less than Preliminary Estimate in Q1
Japanese economy contracted 0.6% q-o-q in the 1Q20, compared with an initial estimate of a 0.9% contraction and economists forecast for a 0.5% decrease. It was the first contraction since 2015, as the Covid-19 issue had a big negative impact
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