U.S. CONSUMER SPENDING WENT UP BY 1.4 PERCENT IN SEPTEMBER

Highlights

• After U.S. GDP surged record 33 percent in the third quarter, highest since 1947, U.S. consumers increased their spending by 1.4 percent in September

• According to the Commerce Department, the U.S. gross domestic product rebounded at a 33.1 percent annu...

U.S. GDP REBOUNDS RECORD 33 PERCENT IN THIRD QUARTER

Highlights

• According to the Commerce Department, the U.S. gross domestic product rebounded at a 33.1 percent annualized rate last year

• After slumping drastically 31.4 percent in the second quarter, the U.S. economy managed to rebound in the third quarter courtesy...

DESPITE COVID-19, U.S. ECONOMY PERFORMED BETTER THAN EXPECTED SAYS CITI CEO

Highlights

• According to Citigroup CEO Michael Corbat, despite pandemic and millions losing their jobs, the U.S. managed to perform better than expectations

• Programs that have been put in place by the Fed, coming out of Treasury, have served us well said the Citi ...

CHINA WORLDS LARGEST ECONOMY- BELIEVE IT OR NOT!

• China has now displaced the U.S. to become the largest economy in the world.
• Measured by the more distinguished yardstick that both the IMF and CIA now judge to be the single best metric for comparing national economies, the IMF Report shows that China’s economy is one-si...

U.S. ECONOMY NEEDS AT LEAST AN YEAR TO RECOVER TO PRE-PANDEMIC LEVELS: FEDERAL RESERVE

Highlights

• Clarida on Wednesday said the COVID-19 recession threw the economy into a very deep hole and it will take some time, perhaps another year, for the level of GDP to fully recover to its previous 2019 peak

• US GDP slumped at its fastest pace in the second ...

BANGLADESH MAY BEAT INDIA IN REGIONAL PER CAPITA GDP SWEEPSTAKES

HIGHLIGHTS

• Some media reports claim that soon Bangladesh may have higher GDP than India.
• Exports of Bangladesh are rapidly increasing.

In terms of per capita Gross Domestic Product (GDP), India was above Bangladesh till a few years a...

U.S. GDP PLUNGES 31.4 PERCENT IN SECOND QUARTER

Highlights

• According to the Commerce Department, the US gross domestic product (GDP) plunged at a 31.4 percent annualized rate last quarter (April-June quarter), 0.3 percent less than what was predicted a month back

• As per the economists, the US economy is likely...

CLIMATE CHANGE TO BRING DOWN REAL U.S. GDP BY 0.03% ANNUALLY FOR NEXT 30 YEARS: REPORT

Highlights

• The CBO came up with this research paper by analysing both positive and negative contributions to gross domestic product (GDP), longer growing seasons in colder climates to drought to damage to factories from more intense storms

• Few aspects of climate ...

RAH INFOTECH PARTNERS WITH TRUSTIFI

HIGHLIGHTS

• RAH Infotech has found a new partner in Trustifi.
• Both partners are working to introduce enhanced e-mail security to India.

RAH Infotech, India’s leading technology distributor has forged a partnership with Las Vegas...

‘CONTACT TRACING’ BILL PROVISIONALLY APPROVED IN BELGIUM

HIGHLIGHTS

• A new law in Belgium allows the contact tracing of people who might be infected with coronavirus.
• The bill will allow consensus between various communities.

On Tuesday, 15 SEP 2020, the Health and Equal Opportunities Commi...

U.S. ECONOMY LIKELY TO SUFFER LOSSES WORTH $14 TRILLION DUE TO COVID-19 SCHOOL CLOSURES

Highlights

• The worldwide school closures in early 2020 led to losses in learning that will not easily be made up for even if schools quickly return to their prior performance levels said economists

• As per the report, students in K-12 will experience a 3 percent l...

THAILAND’S NATIONAL BANK STORMS IN WORRY OF ECONOMIC DOWNFALL

HIGHLIGHTS

• Thailand's travel industry will confront more grave risks next year if the government of Thailand does not allow foreign visitors to come to Thailand, says Bank of Thailand.

International travelers could be minimized from 8 milli...

COVID-19 IMPACT: INDIA’S GDP SHRINKS 23.9 PERCENT IN Q1

Highlights

• As per the National Statistical Office (NSO), the GDP contraction in the April-June period of FY21 was the largest fall on record since India started reporting quarterly data in 1996

• This is the sharpest decline since 1996 and is worse than any of the ...

SPAIN’S ECONOMY IS EXPECTED TO RECOVER IN THE THIRD QUARTER

Highlights:

• The economy of Spain is expecting a significant return or bounce back in the third quarter of the year 2020
• The Independent Authority of Fiscal Responsibility expect that, the national economy of Spain will increase by 15.2 per cent in the...

JAPAN CONCERNED ABOUT ECONOMIC RECOVERY AMID A POSSIBLE SECOND WAVE OF VIRUS

Highlights –

• Japan concerned about economic recovery amid a possible second wave of the virus.
• A government data published on Monday showed that the country’s GDP shrank by 27.8 percent.
• Private consumption sank by 8.2 percent....

TOKYO STOCKS FALL ON MONDAY; JAPAN’S GDP FALLS

Highlights –

• Tokyo Stocks fall on Monday; Japan's GDP falls.
•  225-issue Nikkei Stock Average dropped by 144.08 points.
• Topix index fell by 6.29 points.
• Fujitsu shares fell by 220 yen, or 1.5 percent, to 14,045 yen...

INDIA’S GDP MAY HIT LOWEST SINCE 1947 SAYS INFOSYS CO-FOUNDER N R NARAYANA MURTHY

Highlights

• Infosys co-founder N R Narayana Murthy said people have to get used to live with the pandemic until there is a vaccine or a cure

• The global GDP is likely contract between 5 to 10 percent said Mr. Murthy

• N R Narayana Murthy said India&r...

JAPAN’S ECONOMY REMAINS UNCHANGED AFTER THE SECOND REVISION; GDP FELL BY 2.2%

Highlights-

• Japan’s economy remains unchanged after the second revision; GDP fell by 2.2%.
• The economy shrank in the January-March quarter.
• Japan's GDP data for the April-June quarter will be released on Aug. 17.
• Analy...

S. KOREA SECOND-BEST ECONOMY AMONGST FOURTEEN ILLUSTRIOUS NATIONS

• South Korea's economy diminished by 3.3 percent in the second financial quarter from a quarter earlier.
• But it fared comparatively well as compared with other major economies, data clearly showed on Sunday.

South Korea's gross domestic product ...

RETAIL SALES AND BUSINESS ACTIVITY INCREASE IN UK

HIGHLIGHTS

• Consumer spending has recovered near pre-pandemic levels but recession still in UK.
• At the fastest pace in five years, UK private sector business activity grew in JUL 2020.

British economy can hope for a rapid recovery fro...