Page 9 - World Economy

Japan's service sector activity expands at fastest pace in 2 years

The world's third-largest economy has lagged other advanced nations in its recovery from the pandemic's hit.

Commonsense, not panic, should guide our response to Omicron virus

Testing for the variant has to be fair and simple, meaning charge less for the process and not hold up people while at it.

OECD cuts global economic outlook for 2021 amid Covid variant concerns

The Paris-based organization predicted in September that the global economy would expand 5.7% this year. It left the 2022 projection unchanged at 4.5%

Omicron may be uncertain, but inflation is a sure thing for economies

Omicron raises questions about the strength of demand in the event lockdowns are renewed and people have to wait for a whole new vaccine.

S Korea factory activity grows for 14th month but output, orders shrink

Output continued to shrink on shortages of materials, notably in the semiconductors market.

Japan's factory activity expands at fastest pace in nearly four years

Cost pressures remained an issue as materials shortages and delivery delays caused input prices to surge the most in 13 years.

No secret: British MI6 spy chief warns race is on for mastery of AI

Richard Moore, a former diplomat who became MI6 chief in 2020, says technological progress over the next decade could outstrip all tech progress over the past century.

Global wealth surges as China overtakes US to grab top spot

The US, held back by more muted increases in property prices, saw its net worth more than double over the period, to $90 trillion

Oct WPI inflation hits five-month high of 12.54% on higher input costs

As demand is recovering, industry is likely to pass on the higher costs to consumers and this may affect retail price inflation, experts said

US economy slows sharply in Q3; weekly jobless claims at new 19-month low

Strong inflation, fueled by the economy-wide shortages and pandemic relief money from the government over the course of the public health crisis, cut into growth

BOJ projects low inflation for years, signals delay in stimulus withdrawal

The Japanese central bank also slashed this year's economic growth forecast on sluggish consumption and the hit to factory output from supply disruptions caused by the COVID-19 pandemic

British economy falters during summer as shortages build up

The British economy remains 0.8% below its pre-coronavirus pandemic level of Feb. 2020.

Global debt jumps to a new high of $226 trillion, says IMF

This figure includes both public and non-financial private sector debt.

China Evergrande to raise $5 billion from property unit sale: Report

Evergrande is facing what could be one of China's largest-ever restructurings

More than one billion Asians will join global middle class by 2030: Study

Bangladesh set to rise up the rankings fastest; India and China to add about three-quarters of a billion members between them.

Mexico's economy rebounds 19.7% helped by strong showing across sectors

The agricultural sector grew 6.7 per cent year-on-year

Global recovery gap widens on unequal vaccine access, IMF says

Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs, says IMF

World economy seen growing 6% in 2021, no change from April projection: IMF

Advanced economies, in which close to 40% of the population has been vaccinated, are largely reopening after last year's Covid-19 lockdowns.

Covid leaves Indian adults poorer by 6.1% in 2020: Credit Suisse

The drop in the wealth of Indian adults in 2020, according to Credit Suisse, was amplified by exchange rate depreciation

Why world's policy makers are not worrying about inflation yet: your job

Governments, central banks continue support for pandemic-stricken economies with more spending and low interest rates.