Then there's Germany. The biggest economy in Europe ground to a halt right before the coronavirus outbreak set in, dragged down by the country's struggling factories. The closely-watched ZEW Indicator of Economic Sentiment in Germany decreased sharply for February, reflecting fears that the virus could hit world trade. … [Read more...] about Some of the world’s biggest economies are on the brink of recession
What this long week of number-crunching adds up to, apart from a headache for the statisticians, is a clear threat that the worst downturn in a generation is still not over. "I think overall, given the retail sales numbers, there's obviously a big risk that we end up back in recession," says Turner. For Brown, that news may be double-edged: a "double dip" would hardly be a vindication of his claim to have nursed the UK economy back from the brink of a 21st-century Great Depression; but the weaker the economy appears to be as the electorate go to the polls, the riskier the Conservatives' "cut now" strategy may start to look. As Jonathan Loynes, chief European economist at Capital Economics put it yesterday, "many more weeks like last week, and there will be serious doubts over whether the economy will be strong enough to withstand any form of policy tightening for some time to come." … [Read more...] about A week to forget for Labour: could Britain go back to recession?
A: Although we have the Phase 1 trade deal between China and the United States, there are still some very thorny issues the two nations need to hash out. In addition, I think the coronavirus will cause a significant hit to China’s economy in early 2020 which will impact U.S. growth. … [Read more...] about View of a longtime economist: Slower growth but no recession
“The government went ahead with the legislation despite knowing that it will draw protest. But it still did so because it did not want the people to talk about economic recession. And, that is why it is trying to project it as a Hindu-Muslim issue, when it is actually a BJP-versus-Muslim issue.” … [Read more...] about ‘CAA aimed at diverting people from economic recession’
A spokesman for Alistair Darling said the letters belied Osborne's claim that there was a consensus among economists on the need for early action to tackle the deficit. "Once again George Osborne has jumped on the wrong bandwagon," the spokesman said. "His judgment is wrong and his approach would risk derailing the recovery." … [Read more...] about Top economists hit back at Tories over spending cuts
"In my view, we need a global solution. Common rules for capital and liquidity, common standards for supervision, common rules for bonuses and a shared way of assessing the contribution banks should make to society, free of the unfair and disproportionate use of regulatory and tax havens which penalise countries which want to do the right things." … [Read more...] about The battle for Britain’s economic future: As it happened