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June 17, 2008
by Peter Charalambous
Global inflation concerns are mounting and so finance ministers from the Group of Eight nations have made a continued warning that surging food and fuel prices are threatening the global economy, amid the current uncertain economic climate which was debated at Osaka, Japan.
The meeting is set to cover a range of current issues such as the troubled financial markets and global warming.
With ...
June 16, 2008
by Peter Charalambous
According to the foreclosure-monitoring company, RealtyTrac, US foreclosure filings have continued to rise in May, indicating a 48% rise from a year ago. This means that one in every 483 households received a foreclosure filing last month.
That is highest rate since the Irvine, a report back in January 2005, and represents the 29th consecutive month of increased filings.
The ...
by Peter Charalambous
US consumer confidence has fallen to a 28-year low this month, as the Reuters/University of Michigan preliminary index of consumer sentiment fell to 56.7 from 59.8 last month.
Furthermore, a recent report has indicated that the index is likely to continue to plummet as inflation, currently at 3.4 percent, will mean that it may be a couple of years before the index ...
June 14, 2008
by Peter Charalambous
The sharp increase in both petrol and energy prices have caused US consumer prices to increase in May at their fastest pace for over six months. The 0.6 percent rise was 0.1 higher than analysts had expected especially after the 0.2 percent rise from the month before.
During the month it was the change in energy prices that caused the biggest shock as ...
June 10, 2008
by Elisha Sanders
Lehman Brothers Holdings Inc. pre-released figures for the second quarter, and for the first time since it's inception as a public company in 1994, the bank is posting an expected loss of $2.8 billion.
This is in spite of previously being one of the few banks only lightly brushed by the credit market crisis that erupted ...
June 5, 2008
by Peter Charalambous
In the month of May, inflation in Chile has exceeded analysts predictions and is now running at a 13 year high.
As a result, speculation surrounding an increase in interest rates is now rife as the central bank vice president, Jorge Desormeaux, had warned previously that the bank will increase interest rates if oil prices do not fall in a period ...
June 3, 2008
by Peter Charalambous
Manufacturing in the United States declined last month as a result of inflation surging to its highest rate in over four years, with real fears of stagflation.
The Institute for Supply Management said its index of national factory activity rose to 49.6 in May, from last month’s 48.6, although the ISM report also revealed a negative trend in relation to prices paid, as the ...
by Peter Charalambous
The US economy seems to showing signs of recovery and a glimmer of hope is being offered by the manufacturing industry, as it performed above expectations.
The index from the Institute of Supply Management had a reading of 49.6, which is above the 48.0 that analysts had predicted.
During the month, imports and exports have both increased.
Exports will continue to grow as a result ...
May 29, 2008
by Peter Charalambous
The economic outlook is bleak as consumer spending, which accounts for 75 percent of economic activity, grew at is slowest pace since 2001.
However the pace of growth in the first quarter was greater than original forecasts as exports rose as gross domestic product expanded at an annual pace of 0.9 percent which is up from the 0.6 percent ...
May 27, 2008
by Peter Charalambous
The Commerce Department have released a report that has forecast that new home sales have fallen this month for the sixth consecutive month, indicating that the market has yet to reach rock bottom.
New home sales have fallen by 0.6 percent from March, as 520,000 units were sold which is the fewest since September 1991.
Consumer confidence, especially in the housing market, is ...
by Peter Charalambous
Chile's economy grew by 3 percent in the first quarter compared to last year’s 6.2 percent and is slower than a 4 percent rise predicted by Bloomberg estimates.
Despite the fact that Chile is experiencing energy shortages and high inflation as well as lower consumption, investment still continues to pour into the country.
Economic activities and industrial production have been affected as companies are ...
May 20, 2008
by Peter Charalambous
The US Conference Board said that the leading economic index has risen by 0.1 per cent, and 60 percent of the economic indicators that form the index were from last month.
This follows an increase from March and is a signal that the economic is steadying and is not in a position of serious decline.
Although US economic growth was stalled at 0.6 per ...
May 19, 2008
by Peter Charalambous
The value of the dollar fell again last Friday as US consumer confidence has reduced the chances of the Federal Reserve raising interest rates.
US consumer confidence was the weakest this month since Jimmy Carter and the primary index of consumer confidence Reuters/University of Michigan index fell to 59.5, compared to the 2007 average of 85.6.
The unexpectedly drop in ...
May 15, 2008
by Peter Charalambous
US consumer prices have risen less than forecast for April, which has allowed the Federal Reserve the confidence to now begin to set their focus upon restructuring the economy.
The labour department report, released yesterday, revealed that the 0.2 percent rise in the Consumer Price Index was less than the gain that analysts had been expecting, and following the report, Bonds increased. ...
May 13, 2008
by Peter Charalambous
Prices of imported goods into the US have increased by 1.8 percent in April, and the hike has been driven by the increase in crude oil and raw materials which heighten the threat of inflation as the increase was larger than expected.
Analysts had forecast a 1.7 percent rise in import prices, whilst forecasting a 0.8 percent rise in export prices, even ...
by Peter Charalambous
A government report released today shows that US retail sales have declined by as much as 0.2 percent in April.
During the period, consumers have had to tighten their purse strings and the area hardest hit are the sales of gas guzzling sport utility vehicles.
The steep drop experienced in vehicles sales during the month dragged down overall retail sales, although the retail industry ...
May 12, 2008
by Peter Charalambous
Argentina is the world's second-largest corn exporter and the third-biggest soybean supplier.
Although, as a result of the second farmers strike in two months, government officials and the farm leaders are at loggerheads.
Cabinet Chief Alberto Fernandez is currently leading the talks wit the farmers in order to prevent the strike although the discussions broke down due to farm leaders being unwilling ...
by Peter Charalambous
The US trade deficit narrowed more than expected in March due to the reduction in imports of cars and crude oil, as caused by a weakened economy and the record high oil prices.
This effect has meant that the trade deficit has shrunk greater than forecasts as consumer spending has been cut significantly as cutbacks are being experienced except for necessary items which ...
May 9, 2008
by Peter Charalambous
The number of applications by jobless Americans has fallen, as the level of continuing claims has reduced by 10,000 from 3.02 million, the report also revealed that the four-week average increased by 2,500 to 364,000.
Despite the figures released by the Labour Department, companies are still reducing their labour force after the worst housing slump in twenty five years.
It is predicted ...
April 29, 2008
by Peter Charalambous
The former World Bank President James Wolfensohn has said that outlook for financial markets and the losses from the global credit crisis has not been fully realized and likely to be in the region of $1 trillion.
He has also indicated there could be a restructuring of the global economy and the change and swing of power to the emerging markets ...
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