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Economics Gazette

Economy and Business news




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February 21, 2018

German investors sentiment worsened in February

The expectations for the development of the German economy by the financial analysts and institutional investors worsened in February, according to the latest data from the Center for European Economic Studies ZEW. The index of business sentiment for next 6 months dropped to 17.8 points in February from 20.4 points in January. However, the result

Economics

The IMF warned for possible overheating the Turkish economy

The International Monetary Fund (IMF) warned for possible danger of overheating the Turkish economy due to its rapid recovery. According to the IMF, the country also needs to introduce additional fiscal and monetary tightening. According to the institution’s data, after the slowdown in 2016, Turkey’s economy has sharp improvement last year with a stimulus policy

Eurozone current account surplus expanded in December 2017

The Eurozone current account surplus increased to 45.8 billion USD in December 2017, expanding by 1.3% from the same month last year, according to the unadjusted data provided by the European Central Bank. The surplus in services rose to 8 billion USD in December after just under 1 billion EUR in November. According to seasonally

Fitch upgraded Greece’s sovereign debt rating

The international rating agency Fitch upgraded Greece’s sovereign debt rating, relying on debt relief this year and predicted economic growth. The rating is increased from B- to B, leaving the country in the “highly speculative” category but with a positive outlook. The agency said it had a general improvement in overall Greece’s economic situation and

Markets

Largest importers and exporters of the most traded goods

Every day huge quantities of goods are traded on the global market. These goods can be entirely personalized and unique, but more often they are things like raw materials or bulk goods that move with giant ships and containers. This category includes, for example, crude oil, cars, iron ore, pharmaceuticals and smartphones. Cars and vehicles

Bitcoin failed as a currency according to Mark Carney

The Bitcoin failed as a currency, measured by default criteria, and has no value nor a useful way to buy things, revealed the Governor of the Bank of England Mark Carney. “This has largely failed so far … in terms of traditional aspects of money. It’s not a value store because it’s everywhere. No one

Venezuela attracted 735 million USD from its cryptocurrency Petro

Venezuela attracted 735 million USD on the first day of selling its own cryptocurrency Petro, revealed the country’s president Nicolas Maduro. The initial coin offering (ICO) aimed to bring the country out of the economic crisis. Maduro hopes that oil will allow the affected OPEC member to compensate the US sanctions, while the currency Bolivar

Exports of European agricultural products increased by 5.1% in 2017

The exports of European agricultural products increased by 5.1% in 2017 to a record 137.9 billion EUR, according to latest European Commission analyzes. For comparison, an year ago the EU countries exported goods worth 131 billion EUR. The growth is mainly due to several markets – Russia, where exports of agricultural goods increased by 16%,

Employment

Generation Y lags behind in income of their parents

The millennials (also known as Generation Y) lags behind in income of their parents. According to data from the Resolution Foundation for eight countries, the people of the so-called Generation Y (born between the early 1980s and the mid-1990s) in had a household income of 4% lower of the average of the previous Generation X

Amazon creates 2,000 permanent jobs in France

The US e-commerce giant Amazon announced today that it will create 2,000 permanent jobs in France this year, which is its largest market in Europe after the UK and Germany. The new positions will raise the company’s permanent staff in France to 7,500 in 2018. It also shows confidence in the economy of the country

British workers will get their biggest wage increase since 2008

British workers will get their biggest wage increase since 2008 thanks to higher rates for lower-paid jobs, according to a study by the Central Bank of England. However, this will create additional tensions over the country’s inflation rate. Last week, the central bank gave a signal to the markets that interest would be raised faster