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☆ Mexico tops China as the leading exporter of goods to the US
▼ + stars: | 2024-02-07 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —For the past two decades, the United States imported more goods from China than all other nations. Mexico is now the top exporter of goods into the US, according to new trade data released by the Commerce Department on Wednesday. Mexico sent $475.6 billion worth of goods into the US last year, a 5% increase from 2022. China, meanwhile, exported $427.2 billion worth of goods to the US last year, a 20% slump from 2022. That’s the largest annual decline in the trade deficit since 2009.

Persons: Matthew Martin, Brad Setser, Trump Organizations: New, New York CNN, Commerce Department, —, Oxford Economics, Council, Foreign Relations Locations: New York, United States, China, Mexico, US

FRANKFURT, Germany (AP) — Europe’s economy failed to expand at the end of 2023, with the stagnation now lasting for more than a year amid higher energy prices, costlier credit and lagging growth in powerhouse Germany. Zero economic growth for the October-to-December period of last year follows a 0.1% contraction in the three months before that, according to figures released Tuesday by EU statistics agency Eurostat. That extends a miserable run of economic blahs: The 20 countries that use the euro currency have not shown significant growth since the third quarter of 2022, when the economy grew 0.5%. With higher shipping costs and delays to products from clothes to keyboard components, concerns are growing of new consumer price spikes if the conflict in Gaza drags on or escalates. The trade disruption could add as much as 0.5% to core inflation, which excludes volatile fuel and food prices, Oxford Economics said.

Persons: ”, Holger Schmieding, Yemen's Houthi Organizations: EU, Eurostat, European Central Bank, Oxford Economics, ECB, Hamas, Oxford Locations: FRANKFURT, Germany, Suez, Asia, Europe, Berenberg, United States, Russia, Ukraine, Red, Africa, Gaza

A survey by the Federal Reserve Bank of New York found that Americans' inflation expectations have reached their lowest point in nearly three years. Economists say consumers appear to be responding to steadily slower inflation, higher incomes, lower gas prices and a rising stock market. What's more, paychecks have outpaced inflation over the past year, thereby easing Americans' adjustment to a higher cost of living. Political Cartoons View All 253 ImagesEven with the steady slowdown in inflation, prices are still nearly 17% higher than they were three years ago, a source of discontent for many Americans. It would be too painful.”Claudia Sahm, founder of Sahm Consulting and also a former Fed economist, acknowledged that "people are angry” about higher prices.

Persons: Joe Biden's, What's, ”, Grace Zwemmer, Marshall, “, Dana Smith, Smith, Ryan Cummings, ” Cummings, Biden, Robert Shiller, David Andolfatto, “ Let’s, Claudia Sahm, Josh Boak Organizations: WASHINGTON, University of Michigan, Federal Reserve Bank of New, Federal, Oxford Economics, Marshall, Trump, Democratic, Fed, University of Miami, Sahm Consulting Locations: Federal Reserve Bank of New York, Atlanta, Matthews , North Carolina, Charlotte, Washington

☆ Over half of all jobs driving the US economy could be impacted by AI, new study finds
▼ + stars: | 2024-01-24 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

New study predicts that companies will rapidly adopt AI technology over the next decade. The study also found that over half of all jobs driving the US economy will be significantly impacted by AI, with a small percentage of workers losing their jobs and struggling to find new employment. AdvertisementCompanies will quickly adopt AI technology, impacting jobsThe model first examined how quickly businesses will adopt AI. AI will cause an economic boomThe surge in AI adoption by companies signifies a huge impact on the US economy, the study found. AdvertisementThis is supported by a recent McKinsey study showing that AI is more likely to enhance jobs than replace them.

Persons: —, OpenAI, What's, Goldman Sachs, Cognizant Adrian Cooper, Cooper, Sam Altman, FABRICE COFFRINI Organizations: Service, Oxford Economics, McKinsey, Oxford

☆ China is in 'a bit of a policy pivot,' economist says
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is in 'a bit of a policy pivot,' economist saysLouise Loo, lead China economist at Oxford Economics, says "the easing bias is still there, but we're likely to see different kinds of easing."

Persons: Louise Loo Organizations: China, Oxford Economics Locations: China

☆ Inflation isn’t beaten yet and risks of a new price shock are rising
▼ + stars: | 2024-01-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The job is not yet done,” François Villeroy de Galhau, the governor of France’s central bank, said this week in Davos. Those “upside risks to inflation” include supply chain fragmentation, trade protectionism, climate shocks and armed conflicts, according to Gopinath. As soon as central banks start lowering interest rates “people feel better, they start spending more,” she said. Now the bank has to keep interest rates high “for as long as necessary” to put inflation firmly on the path back to 2%, she added. Meanwhile, container shipping costs along many of the world’s busiest trade routes have doubled — and in some cases tripled — since the middle of December, according to data from London-based shipping consultancy Drewry.

Persons: Sergio Ermotti, ”, “ It’s, Galhau, Gita Gopinath, Francois Villeroy de, Stefan Wermuth, Gopinath, Mary Callahan Erdoes, Christine Lagarde, “, Joe Biden, Vincent Clerc, CNN’s Richard Quest, Tobias Meyer, ” Robert North Organizations: London CNN, UBS, Economic, Federal Reserve, International Monetary Fund, Bloomberg, Getty, JPMorgan, Central Bank, IMF, Oxford University, Drewry, Oxford Economics, Maersk, DHL Locations: Iran, Africa, Davos, Switzerland, Red, United States, Europe, United Kingdom, France’s, Israel, Pakistan, British, Yemen, Suez, London, Asia

☆ ‘Sick man of Europe?’ Germany says it just needs a coffee
▼ + stars: | 2024-01-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Germany’s finance minister has shrugged off suggestions his country has once again become the “sick man” of Europe. Long the engine of growth in Europe, Germany’s economy shrank last year by 0.3%, likely the weakest performance among the region’s big countries. “I know what some of you are thinking: Germany probably is a sick man. Germany is not a sick man… Germany is a tired man after a short night,” Christian Lindner said at the annual World Economic Forum in Davos, Switzerland. The country became known as the “sick man of Europe” in the late 1990s as its economy faltered and unemployment soared.

Persons: It’s, ”, “, ” Christian Lindner, ” Lindner, ” Daniel Kral Organizations: London CNN —, Economic, Oxford Economics, Germany’s Federal, Office Locations: Europe, Germany, Davos, Switzerland, Germany’s, Ukraine, Moscow, Berlin, Russia, Red

☆ Jobless claims fall to lowest level since 2022, while CEO exits hit new high
▼ + stars: | 2024-01-18 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

New York CNN —The number of Americans making first-time claims for jobless benefits dropped last week to a level not seen since the fall of 2022, while CEO exits set a new high last year, according to fresh economic data released Thursday. There were an estimated 187,000 initial claims for unemployment insurance during the week that ended January 13, according to Department of Labor data released Thursday. That’s down by 16,000 claims from the week before and marked the lowest level of first-time claims — considered a proxy for layoffs — since September 24, 2022. Weekly claims data can be quite volatile and are frequently revised, and economists caution that some one-off influences — in this case, harsh weather and a new year — could be at play. “Historically, we’ve seen large economic shifts preceded by a surge in CEO exits,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a statement.

Persons: —, ” Andrew Challenger, Challenger, ”, “, ” Matthew Martin, Ian Shepherdson, ” Shepherdson Organizations: New, New York CNN, of Labor, Challenger, ”, Oxford Economics, ’, ” Thursday’s Labor Department Locations: New York, US

☆ U.K. Inflation Edges Higher, Halting 10-Month Slide
▼ + stars: | 2024-01-17 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

Why It Matters: Rishi Sunak met his inflation pledge. About a year ago, with inflation above 10 percent, Prime Minister Rishi Sunak made several pledges to the British public on the economy, migration and the health service. Wednesday’s data confirms that he met one of those — to cut Britain’s inflation rate in half. But even as households may be relieved that prices aren’t rising as quickly, the cumulative impact of high inflation is still being felt. Inflation could drop to 2 percent as soon as the spring, around April or May, according to economists at Goldman Sachs, ING, Oxford Economics and elsewhere.

Persons: Rishi Sunak, Sunak’s, Goldman Sachs Organizations: Bank of England, ING, Oxford Locations: It’s, Britain

☆ U.K. Inflation Edges Higher, Halting 10-Month Decline
▼ + stars: | 2024-01-17 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

Persons: Rishi Sunak, Sunak’s, Goldman Sachs Organizations: Bank of England, ING, Oxford Locations: It’s, Britain

☆ Davos: A mountain of debt and a wave of elections. World leaders are hamstrung
▼ + stars: | 2024-01-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

London CNN —World leaders are flocking to Davos this week to pontificate on the planet’s most pressing problems. Even in the absence of a new crisis, soaring debt servicing costs will constrain efforts to tackle climate change and care for aging populations. Mortgage rates and other borrowing costs soared as investors demanded much higher premiums for owning UK debt. Mounting debt and political brinksmanship have already taken their toll on America’s credit rating, which typically affects borrowing costs for the government, businesses and households. And that would increase the government’s borrowing costs.

Persons: worryingly, Michael Saunders, ”, Saunders, that’s, Liz Truss, Dave Ramsden, Fitch, Moody’s, Raghuram Rajan, “ It’s, ” Rajan, Anna Cooban Organizations: London CNN —, Bank, CNN, Oxford Economics, Bank of England, AAA, States ’, Reserve Bank of India, Labour Party, Treasury Department, Federal, University of Chicago Booth School of Business Locations: Davos, Kingdom, Argentina, States, United States, Switzerland

☆ How the Red Sea crisis could clobber the global economy
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.

Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, ”, ” It’s, Abercrombie &, Nathan Howard, “, ” Philip Damas, —, Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, ”, China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey

☆ Workers Can't Get Hired for America's Semiconductor Jobs of the Future
▼ + stars: | 2024-01-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +17 min

But since completing Quick Start, Gardner has come to a worrying realization: There aren't enough semiconductor jobs to go around. The precedent is little solace for the many graduates of the Quick Start program who are stuck in limbo. In addition to no longer promising interviews with semiconductor companies, Quick Start has taken other steps to moderate candidates' expectations. Hurdles aboundBeyond short-term economics, Palmer believes there are two reasons semiconductor companies have been slow to hire, she said. In the years ahead, the artificial-intelligence boom could further boost the demand for chips and create more jobs in the semiconductor industry.

Persons: Collin Gardner, Gardner, Taco Bell, Taiwan's, Joe Biden, I'm, Lisa Strothers, Jacob Zinkula, Quick, Leah Palmer, who've, Palmer, Gary Burley, who's, they're, we're, It's, —, Gabriela Cruz Thompson, Biden, Gina Raimondo, he'd, hadn't, he's Organizations: Taco Bell, Business, Taco, Semiconductors, Semiconductor, Semiconductor Industry Association, Oxford Economics, Intel, Arizona Advanced Manufacturing, Mesa Community, Mesa Community College, Quick, Samsung, Bloomberg Locations: Arizona's Maricopa County, Arizona, chipmaking, China, Maricopa County, Ohio

☆ China's Nov services activity accelerates on boost from new orders - Caixin PMI
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The findings present a mixed picture of the vast services sector as an official survey last week showed the sector unexpectedly contracted for the first time since December last year, prompting calls for more stimulus measures. "Both services supply and demand expanded, as the market continued to heal," said Wang Zhe, economist at Caixin Insight Group. Analysts say the different survey sizes and composition of surveyed companies might explain the discrepancy between the Caixin and official PMI readings. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, grew to 51.6 from 50.0 in October, marking the strongest reading since August. According to the Caixin services survey, employment fell for the first time since the start of 2023 as some firms maintained a cautious approach to hiring.

Persons: Wang Zhe, Wang, Louise Loo, spender, Loo, Ellen Zhang, Ryan Woo, Shri Navaratnam Organizations: P Global, Caixin Insight, PMI, Oxford, Thomson Locations: BEIJING, October's, China

Yet labour markets are softening, the euro zone faces recession and China's property sector is in crisis. Here's what some closely-watched market indicators say about global recession risks:1/ AMERICAN EXCEPTIONALISM? Britain's economy avoided the start of a recession in the third quarter but still failed to grow. Economists broadly expect the global economy to slow next year but avoid a recession. If supply shocks resulting from the Israel-Hamas war become severe enough to push Brent crude to $150, a level it has never breached, a "mild and fleeting" global recession could result, Oxford Economics reckons.

Persons: Brendan McDermid, Guy Miller, COVID, Zurich Insurance's Miller, Torsten Slok, Austria's, David Katimbo, We've, Brent, Yoruk Bahceli, Dhara Ranasinghe, Naomi Rovnick, Alexandra Hudson Organizations: Wall, REUTERS, Zurich Insurance, Reuters, Traders, U.S . Federal Reserve, ECB, Apollo Global Management, P, Sweden's SBB, HK, Bank of England, Business insolvencies, EdenTree Investment Management, Oxford Economics reckons, Reuters Graphics Reuters, Alexandra Hudson Our, Thomson Locations: New York, U.S, China, Zurich, England, Wales, Europe, Israel

☆ US consumer spending slows; labor market steadily easing
▼ + stars: | 2023-11-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Those hopes were reinforced by other data on Thursday showing the labor market gradually easing. Though wages remain elevated, the pace of increase has slowed from earlier in the year as the labor market eases. Personal consumptionINFLATION COOLINGInflation as measured by the personal consumption expenditures (PCE) price index was unchanged in October after rising 0.4% in September. Stripping out housing, the core PCE price index edged up 0.1% after gaining 0.3% in September. Still, the labor market is cooling in tandem with overall demand in the economy.

Persons: Sarah Silbiger, Jerome, Powell, Conrad DeQuadros, Nancy Vanden Houten, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: El Progreso Market, Washington , D.C, REUTERS, Brean, Commerce Department's, United Auto Workers, Treasury, Fed, Labor Department, Oxford Economics, Thomson Locations: Mount Pleasant, Washington ,, New York, outlays, U.S

☆ Slowing China still leads the race for commodities
▼ + stars: | 2023-11-28 | by ( Yawen Chen | ) www.reuters.com time to read: +7 min

"When it comes to copper, the thinking usually goes that copper equals property, property equals China," said one commodities trader. "And because China property is down, copper must be down too." That’s why China's copper demand will still rise by 4 million tonnes from the 2020 level to around 18 million tonnes per year in 2030, according to estimates by commodity trading group Trafigura. And China's copper demand has grown by 8% this year, faster than the 5% Xi is targeting for overall GDP growth. China's annual aluminium demand rose by 18 million tonnes from 2010 to 2020 and is forecast to grow by another 13 million tonnes to over 50 million tonnes a year in 2030, per Trafigura.

Persons: Xi Jinping, Communist Party’s, Wood Mackenzie, Francesco Guerrera, Katrina Hamlin, Thomas Shum Organizations: Reuters, HK, Communist, Shanghai Futures Exchange, London Metal Exchange, ING, International Monetary Fund, IMF, World Bank, Reuters Graphics Reuters, Oxford, HSBC, Democratic, Thomson Locations: SINGAPORE, China, Washington, Moscow, Taiwan, Shanghai, Republic, United States, Australia, Beijing, Chile, Indonesia, Democratic Republic of Congo

☆ Former staffers of MrBeast explain what it's like to work for the top YouTuber, from crashing trains to go-karting in Japan
▼ + stars: | 2023-11-28 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

Her manager explained that their next video would entail filming retired trains from the Great Smoky Mountains Railroad crashing into brick walls. Insider spoke with 17 current and former employees of top YouTube stars, five of whom had worked for MrBeast. They described days filled with unimaginable stunts, inconsistent work hours, and varying salaries. Many of his employees work on site to participate in video production. The employees Insider spoke with said working at MrBeast meant pushing the boundaries of what a YouTube video could achieve.

Persons: Britt Carter, Carter, Jimmy Donaldson, —, Donaldson, Marc Kaplan Organizations: Business, YouTube, Lamborghini, Research, Oxford Economics, Forbes, MrBeast, Washington Post Locations: Greenville , North Carolina, Smoky, Greenville, Tokyo, Japan

☆ What's it like to work for MrBeast, the biggest YouTuber in the world, according to 5 former staffers
▼ + stars: | 2023-11-24 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

Insider spoke with 17 current and former employees of top YouTube stars, five of whom had worked for MrBeast. They described days filled with unimaginable stunts, inconsistent work hours, and varying salaries. Many of his employees work on site to participate in video production. But others, like Carter, found themselves staying at work much longer than 40 hours per week. The employees Insider spoke with said working at MrBeast meant pushing the boundaries of what a YouTube video could achieve.

☆ Factbox-The Big Topics That Will Define Congo's Election
▼ + stars: | 2023-11-23 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +5 min

But despite its wealth of copper, cobalt and other resources, little is passed down to ordinary Congolese. Tshisekedi has sought to rein in China's 70% share of Congo's mining sector by re-negotiating that and other contracts. Risk-averse companies that had previously avoided Congo's mining sector due to instability are taking a second look as new opportunities to tap into its minerals emerge. Nearly 7 million people are displaced in Congo as of June, the International Organization for Migration said, up 17% from October 2022. Opposition parties said registrations were skewed by the national election commission to favour Tshisekedi's ruling coalition.

Persons: Edward McAllister DAKAR, Felix Tshisekedi's, Tshisekedi, Joseph Kabila, Zaynab Hoosen, Tshisekedi's, China's CMOC, Maja Bovcon, Kabila, Gecamines, Bovcon, Martin Fayulu, Moise Katumbi, Denis Mukwege, Edward McAllister, Ange Kasongo, Sonia Rolley, Bate Felix, Christina Fincher Organizations: Democratic, International Monetary Fund, Notre, Congolese, United Nations, International Organization for Migration, Oxford Economics, Islamic State, Allied Democratic Forces, Cooperative for, Senior, Catholic Church Locations: Democratic Republic of Congo, Saharan Africa, Kinshasa, Oxford Economics Africa, Congo, China, North Kivu, DR Congo

☆ US weekly jobless claims fall; business spending on equipment softening
▼ + stars: | 2023-11-22 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Though the weekly jobless claims report from the Labor Department on Wednesday also showed unemployment rolls declining for the first-time since mid-September, they remained near the highs for this year. The claims data covered the period during which the government surveyed businesses for the nonfarm payrolls component of November's employment report. Continuing claims fell 22,000 to 1.840 million during the week ending Nov. 11, the claims report showed. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, dipped 0.1% last month, the Commerce Department's Census Bureau said. Business spending on equipment spending contracted in the third quarter.

Persons: Andrew Kelly, Nancy Vanden Houten, Unadjusted, Lucia Mutikani, Paul Simao Organizations: REUTERS, Labor Department, Oxford Economics, Reuters, Fed, Bank of America Institute, Commerce Department, Commerce, Data, Thomson Locations: Manhattan , New York City, U.S, WASHINGTON, New York, California, Kentucky , Oregon , Kentucky, Illinois, Texas, Commerce Department's

☆ Canada's unprecedented housing crisis could be a warning sign for the US
▼ + stars: | 2023-11-22 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

The country is also almost certainly heading towards a recession — if it's not already in one — and the housing market is partly to blame, economists say. But immigration is just one of many factors at play — Canada's housing crisis far preceded the rise in immigration. Stillo believes Canada's housing bubble has been slowly "deflating" for the last 18 months, despite an upswing in prices earlier this year. But there isn't consensus on if and when Canada's housing bubble will burst — or even if there is a bubble. While housing prices have flattened recently as demand softens, he says they show no sign of significantly declining.

Persons: —, it's, Mosche Lander, haven't, Mike Moffat, Tony Stillo, Moffat, Lander, Stillo, they're Organizations: Service, Concordia University, Smart Prosperity, University of Ottawa, US, Oxford Economics, America, Bloomberg Locations: Canada, Canadian

☆ The US dollar is central to Argentina's plan to fix its broken economy. There's just one hitch.
▼ + stars: | 2023-11-22 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

Argentina's new president Javier Milei wants to adopt the US dollar to tame sky-high inflation. There's a major problem with his plan to revive the ailing South American economy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRight-wing economist Javier Milei won Argentina's presidential runoff Sunday – and that means the country could soon ditch the peso for the US dollar. Under the president-elect's plan, the government would scrap the peso and replace it with the dollar.

Persons: Javier Milei, doesn't, —, Milei, Mary, Read, John Hopkins, Steve Hanke, Guillermo Ortiz, Nora Mazzini, Lucila Bonilla Organizations: Service, Central Bank of, US Federal Reserve, International Monetary Fund, Bank, Reuters, Bloomberg, Bank of Mexico, Economics, Oxford Economics Locations: Central Bank of Argentina, Ecuador, El, Panama, Argentina, Mar del Plata, Argentine

☆ Geopolitical instability and a packed election calendar have strategists wary of 2024
▼ + stars: | 2023-11-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

In a global risk survey carried out among 130 businesses last month by Oxford Economics, almost two fifths of respondents viewed the Israel-Hamas war as a very significant risk to the global economy over the next two years. "Deglobalisation and persistently higher oil prices, both of which could be triggered by an intensification of geopolitical tensions, are also fairly prominent in the latest survey," Oxford Economics researchers said. "Rising geopolitical tensions could trigger more trade restrictions across the globe, resulting in further economic fragmentation. "Ongoing geopolitical conflicts and tensions are likely to depress growth further, while adding to inflationary pressures that are beyond the control of central banks." "Early 2024 Taiwan elections will set the stage for the rest of the year.

Persons: Gil Cohen, Deglobalisation, Goldman, Roland Temple, Lazard Organizations: Hamas, magen, AFP, Getty, Oxford Economics, NATO, Oxford, Monetary Fund, Asset Management, West, Democratic Progressive Party, Kuomintang, KMT Locations: Gaza, Israel, China, Taiwan, Russia, U.S, South Africa, India, Ukraine, Ukrainian, Iran, Hormuz, United States, Beijing

☆ US weekly jobless claims at three-month high; import prices tumble
▼ + stars: | 2023-11-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Job growth slowed in October and the unemployment rate climbed to 3.9%, the highest level since January 2022. Import prices dropped 0.8% last month after rising 0.4% in September. Economists had forecast import prices, which exclude tariffs, falling 0.3%. In the 12 months through October, import prices declined 2.0% after decreasing 1.5% in September. Excluding fuels and food, import prices dropped 0.2% after dipping 0.1% in September.

Persons: Andrew Kelly, Nancy Vanden Houten, Unadjusted, Goldman Sachs, Lou Crandall, Wrightson, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Labor Department, Oxford Economics, Reuters, Goldman, Treasury, Fed, Reuters Graphics, Labor Department's Bureau of Labor Statistics, Consumer, Thomson Locations: Manhattan , New York City , New York, U.S, WASHINGTON, New York, Massachusetts, Oregon, Georgia, United States, China

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