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Economics Gazette

Economy and Business news

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May 20, 2019

Posts by: Angelina Nieves

Steven Mnuchin

USA is not afraid of a trade war

The US Treasury Secretary Steven Mnuchin assured yesterday that his country is not afraid of a trade war, while specifying that it is not its goal. “We must be prepared to intervene to defend the interests of the United States to protect a fair free trade”, said Steven Mnuchin said at a press conference at

trade

Trump’s attempt to destroy the World Trade Organization

Europe has concerns that the US President Donald Trump’s desire to impose duties on imports of steel and aluminum is just the beginning. The EU’s biggest fear is that Trump’s ultimate goal is to kill the World Trade Organization and abolish the current rules that underlie global trading networks. The European Trade Representatives say their

US industrial production

US industrial production rose by 1.1% in February 2018

The US industrial production rose by 1.1% in February, thus easily surpassing market forecasts to keep the pace of 0.3%. The jump in production has been the biggest since October, as the mining sector supported it most sharply. The manufacturing sector is definitely recovering after declining 0.2% in January. The long-term output grew by 1.8%,

US jobless claims

Number of US jobless claims has fallen last week

The number of US jobless claims has fallen last week, indicating that labor tightening continues, although US economic growth in the first quarter seems to slow down. Other data, also published on Thursday, revealed that commodity prices rose in February, heightening expectations that inflation will accelerate this year. A strong labor market and a steady

Philip Hammond

UK economy is developing better than expected

The UK economy is developing better than expected, according to the British Finance Minister Philip Hammond. The growth of the UK economy is expected to reach 1.4% this year, which is 0.1% higher than the current forecast. The expectations for 2019 and 2020 do not change and remain at 1.3%. The growth forecasts were downgraded

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