A quick economic rebound seems assured – but then what?

The good news in this week’s “national accounts” for the three months to end-September is that the Delta-induced contraction in the economy was a lot less than feared – not just by the financial market economists (whose guesses are usually wrong) but by the far more high-powered econocrats in Treasury and the Reserve Bank. So […]

Kroger managing inflation with select price increases

Equity markets are vulnerable to selloff: Expert Morgan Creek Capital Management CEO Mark Yusko discusses his outlook for the markets and cryptocurrencies. Kroger executives warned Thursday that the supermarket has had to pass some of its higher product costs onto customers in the form of price hikes. The company noted it has experienced higher product […]

GST mop up in November at ₹1.31 lakh crore, second highest since rollout

CGST refers to Central Goods and Services Tax, SGST (State Goods and Service Tax) and IGST (Integrated Goods and Services Tax) Goods and Services Tax (GST) collections jumped to over ₹1.31 lakh crore in November, the second highest since its implementation in July 2017, in line with the trend in economic recovery, the finance ministry […]

How Omicron could be the answer to our economic prayers

For our free coronavirus pandemic coverage, learn more here. It is almost too good to believe. The days go by and there is still little evidence that the Omicron wave in South Africa is leading to a concomitant surge in severe illness. Professor Francois Balloux, director of the UCL Genetics Institute, says we cannot rule […]

France Inflation Strongest Since 2008

France inflation accelerated to the highest level since 2008 driven by surging energy prices, the provisional estimate from the statistical office Insee showed on Tuesday. In a separate communiqué, the statistical office also confirmed the sequential growth for the third quarter. Consumer price inflation advanced to 2.8 percent in November from 2.6 percent in October. […]

ECB Policymakers Must Keep Sufficient Options For Future Beyond December: Minutes

Staff projections in December may not resolve all uncertainties around the medium-term outlook and policymakers must keep sufficient options for future monetary policy actions, the minutes of the latest European Central Bank meeting showed Thursday. “While the Governing Council would benefit from new staff macroeconomic projections at its December meeting, it was cautioned that the […]

This Is The American City With The Smallest Income Gap

No effort to change the income gap has worked. Most recently, some members of Congress wanted a special tax on America’s 700 billionaire families. (No one can be sure that is the right number.) That failed. Nevertheless, new legislation is likely to raise taxes on those who make $400,000 a year or more. Even a […]

U.S. Durable Goods Orders Unexpectedly Drop Amid Slump In Aircraft Demand

Reflecting another steep drop in orders for transportation equipment, the Commerce Department released a report on Wednesday showing an unexpected decrease in new orders for U.S. manufactured durable goods in the month of October. The report said durable goods orders fell by 0.5 percent in October following a 0.4 percent drop in September. The decrease […]

This State Has the Lowest Unemployment in America

The COVID-19 pandemic drove unemployment to a high not seen since World War II. In April 2020, the figure reached 14.8%, according to the Congressional Research Service. That was up from 3.5% in February 2020. As COVID-19 numbers have slowly dropped (with some interruptions of large spikes), the jobless rate dropped to 4.6% in October. […]

EPFO board allows faster decisions on investment opportunities

‘Significant decision would yield higher rate of return’ The Employees’ Provident Fund Organisation’s (EPFO) Central Board of Trustees (CBT) on Saturday approved a proposal that would speed up decisions on investment opportunities, according to EPFO officials. The CBT, at a meeting chaired by Labour and Employment Minister Bhupender Yadav, “decided to empower the Finance Investment […]