Japan’s Q2 economic rebound likely feeble as COVID-19 impact persists
Japan’s economy likely recovered slightly in the second quarter from a steep slump at the start of the year, a Reuters poll showed, as solid exports and capital expenditure cushioned some of the blow to consumption from the coronavirus pandemic.
Indonesia exits recession with 7% GDP growth in Q2, but virus clouds recovery
Indonesia pulled out of recession in the second quarter, reporting its strongest annual growth rate in 17 years, but analysts warned its economic recovery will suffer a setback due to a recent surge in COVID-19 infections.
China’s factory activity in July grows at slowest pace since Feb 2020
China’s factory activity expanded in July at the slowest pace in 17 months as higher raw material costs, equipment maintenance and extreme weather weighed on business activity, adding to concerns about a slowdown in the world’s second-biggest economy.
Marketmind: A step closer to Fed taper, quelle surprise!
The main reveal from the Fed’s statement was that it was inching closer to a policy normalisation announcement and that came as no surprise to anyone.
Australian CPI blows hot in Q2, core inflation far cooler
Australia’s consumer prices rose at the fastest annual pace in almost 13 years last quarter as petrol jumped and government subsidies unwound, but a far tamer reading for core inflation suggested the spike would be fleeting.
IMF raises growth forecasts for rich nations, dims outlook for developing world
The International Monetary Fund on Tuesday maintained its 6% global growth forecast for 2021, upgrading its outlook for the United States and other wealthy economies but cutting estimates for developing countries struggling with surging COVID-19 infections.
Marketmind: A China crackdown
World stocks snapped a four-day rising streak on Monday as a widening crackdown on some parts of the world’s second biggest economy by regulators sent shudders through global markets.
Australian central bank’s policy optimism tested by lockdowns
Australia’s central bank was counting on the economy to keep surprising with its strength when trimming stimulus earlier this month, but might now be forced to reconsider as coronavirus lockdowns spread across the country.
U.S. recession ended in April 2020, making it shortest on record
The U.S. recession touched off by the coronavirus lasted only two months, ending with a low point reached in April 2020 after thestart of a sharp drop in economic activity in March of that year, the U.S. Business Cycle Dating Committee announced Monday.
Japan’s Q3 growth forecast cut as new pandemic curbs hit: Reuters poll
Japan’s economy will grow at a slower pace than initially expected in the third quarter, as fresh coronavirus emergency curbs in Tokyo, extending through the Olympic Games, weigh on consumption, a Reuters poll found.
