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Economics Gazette

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December 15, 2018


Steven Mnuchin

The IMF has to deal with external imbalances

The International Monetary Fund (IMF) needs to take action to tackle major external imbalances, demand the removal of trade barriers and the protection of intellectual property rights, according to the US Finance Minister Steven Mnuchin. In a statement to the IMF Steering Committee on Saturday, he said that countries that have large and sustainable external

UK retail sales

The UK retail sales declined in Q1 2018 due to bad winter weather

The UK retail sales reported their biggest quarter-on-quarter decline in January-March 2018, after the unusually cold and snowy weather apparently left home buyers. The retail sales volume in March shrunk by 1.2% after an increase of 0.8% was recorded in February. Last month, analysts’ consensus forecast was down, but 0.5%. For the first quarter, the

US home sales

US home sales accelerated at a record speed in 2017

The US home sales accelerated at a record speed in 2017, with buyers acquiring properties immediately after they were announced for sale. On average, only 81 days were needed to sell a home from the launch until the deal was finalized, with the properties being sold as quickly as possible in June, when only 73

Global credit sales market

Global credit sales market returned to growth

The global credit sales market returned to growth last year, with total sales of mortgage-backed mortgage loans reaching 114 billion EUR. Although 2017 was record for credit transactions, the amount of non-performing loans (secured, unsecured and corporate) held by European banks has reached approximately 1 trillion EUR. Despite the huge volume of unsold loans in

US retail sales

The US retail sales rose in March 2018

The US retail sales rose in March after three consecutive months of decline, as households increased their purchases of motor vehicles and other large purchases, suggesting that consumer spending will go up in the second quarter of the year. Last month, the retail sales in the US rose by 0.6% after a 0.1% decline in

UK trade deficit

UK trade deficit shrank sharply in February

The UK trade deficit shrank sharply by 2 billion GBP to 965 million GBP in February, compared to the revised 2.959 billion GBP reported last month. This is the smallest trade deficit since September, with data below a deficit of 2.6 billion GBP. The goods and services imports in the United Kingdom shrank by 4.8%

China WTO

China filed a complaint against USA to the WTO

China filed a complaint to the World Trade Organization (WTO) against US President Donald Trump’s decision to impose import duties on steel and aluminum. The Asian country has requested a 60-day consultation with the United States to resolve the dispute. If the two sides do not find a solution, the next step is for Beijing

German exports

German exports lost speed in February 2018

German exports lost speed in February, according to the latest official data. The German exports value grew by 2.4% in February compared to the same month last year, reaching a total of 104.7 billion EUR (129 billion USD). In January, exports rose by 8.6% on an annual basis. Reported on a monthly basis in February,

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