Starting with a bang
But look more closely at the latest GDP figures, and they are not so rosy
THIS YEAR America’s economy did not get the freshest of starts. A government shutdown, a wobbly stockmarket and concerns that the Federal Reserve would tighten monetary policy too quickly made for a dim outlook for 2019. With the effects of fiscal stimulus fading, and momentum in the global economy ebbing, most expected America’s economic growth to decelerate.
So GDP figures for the first quarter, published on April 26th, were a pleasant surprise. Economists surveyed by the Wall Street Journal had been expecting annualised real growth for the quarter of 2.5%. Instead they were treated to a figure of 3.2%. Needless to say, President Donald Trump was pleased, tweeting that the figure was “far above expectations or projections”, and (of course) adding “MAKE AMERICA GREAT AGAIN”.
China's refusal to buckle under US tariff threats is creating increasing strains on the oil market and global economy
Chinese spot iron ore prices dropped to USD 99.15/MT, CFR China, as on 5th Aug’19. The prices fell as against USD 108.45/MT, CFR China towards last weekend.
Canada’s Centerra Gold (TSX:CG) and the Kyrgyz Republic have finally completed all conditions included in a deal signed in Sept. 2017 ending long-dragged environmental and economic disputes over the company’s Kumtor gold mine, the country’s largest.
Iranian President Hassan Rouhani highlighted reasons behind the country’s moves to reduce its commitments under the 2015 nuclear deal, known as JCPOA, and said the reduction of obligations will continue if other parties to the deal fail to meet their obligations.
Iran's Foreign Minister Mohammad Javad Zarif was hit with US sanctions after turning down an invitation to meet President Donald Trump, officials in the Islamic Republic said on Sunday.
China’s exports of rare earth magnets to the United States fell 3.9% in June from the previous month, customs data showed on Saturday, as concerns persist that Beijing will curb supply of rare earth products as part of its trade war with Washington.