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Economics Gazette

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December 14, 2017

Archives for August 2017

Chinесе services activity

Chinese services activity slows down in August 2017

Chinese services activity slows down in August 2017, reaching its lowest level since May 2016. The PMI dropped from 54.5 points in July to 53.4 points in August. The service sector generates more than half of the Chinese economy, with rising wages giving consumers the opportunity to shop and travel more. The authorities in Beijing

Bitcoin cash

Russia plans regulations of Bitcoin and ban its sale to individuals

Russian Deputy Finance Minister Alexei Moiseev said that digital currency Bitcoin resembled a “high-risk financial pyramid”. He released that country is planning regulations that could potentially ban the sale of crypto-currencies to ordinary investors or individuals. In an interview Alexei Moiseev commented on the proposed regulations on the Bitcoin in Russia, the idea of ​​which

US private sector

US private sector adds 237,000 jobs in August 2017

The US private sector adds 237,000 jobs in August 2017, which is far above expectations, according to ADP’s regular monthly report. The forecast was for 183,000 new positions. The July data were revised upwards to 201,000 from the 178,000 jobs originally calculated. Trade, transportation and utilities contributed the biggest sector gains, at 51,000, while leisure

European economic outlook

European economic outlook is improving in August 2017

European economic outlook is improving in August 2017, as the Eurozone index reached its highest level in 10 years. The European Commission’s Economic Sentiment Index (ESI) rose by 0.6 points to 111.9 points in August. Economists expected a value of 111.3 points. The positivity was shared by businesses across different sectors, with sub-indices for confidence

Houses for sale

US home prices are rising in June

US home prices are rising in June 2017 on month-on-month basis. The annual growth rate is 5.8%, which is 0.1 percentage points higher than expected by economists. It was also slightly higher that the 5.7% increase in May. Another key measure that covers home prices in 20 US cities is growing steadily at 5.7%. Nine

subsidize tour operators

Russia subsidize tour operators for domestic travel

Russian Ministry of Transport and culture developed a new mechanism to subsidize the travel of tourists to the popular Russian resorts. It will enter into force next year. The subsidies from the state budget are proposed to be directed to tour operators, who will buy seats for tourist groups for regular and charter flights, as

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