Twelve months ago the global economic outlook was encouraging, strong even: 2017 had seen the best year of international GDP growth since the aftermath of the financial crisis and 2018 seemed to offer even better. “The global cyclical upswing that began midway through 2016 continues to gather strength,” reported the head of economics at the International Monetary Fund, Maury Obstfeld. Stock markets were booming. Business confidence was high. Consumer sentiment was robust. It looked like the world was finally shaking off the painful memory of the global financial crisis a decade ago. Now things are looking far less rosy. True, on the surface not much has changed. The International Monetary Fund expects global growth in 2019 to come in at 3.7 per cent, the same as expected for 2018 and 2017. Yet this is a downgrade from the 3.9 per cent the fund was expecting eight month ago – and the consensus among private sector economists is that it will be only 3.6 per … [Read more...] about What will happen to the global economy in the next 12 months?
Worst economies in the world
Yemen could face the worst famine in the last century within the next three months if the Saudi-led coalition doesn't halt airstrikes targeting Houthi rebels, the United Nations warned Sunday. According to the U.N.'s humanitarian coordinator Lisa Grande, 12 to 13 million people are at risk of starvation as Yemen has suffered through a bloody civil war since 2015. "I think many of us felt as we went into the 21st century that it was unthinkable that we could see a famine like we saw in Ethiopia, that we saw in Bengal, that we saw in parts of the Soviet Union – that was just unacceptable," she told the BBC. The Saudi-led coalition has been locked in a stalemated war with the rebels since 2015. An estimated 10,000 people have been killed in the conflict. Further fueling the potential of famine, the country's unstable economy has doubled food prices in the last month as it collapses. Save the Children CEO Helle Thorning-Schmidt said the conflict is gradually turning into a "war on … [Read more...] about Yemen on brink of world’s worst famine in the last century
BRITAIN’S hidden debt mountain is among the worst in the world, it emerged yesterday. A major report by the IMF reassessed 31 major nations’ net worth, balancing how much each owns to each owes. Only Portugal fared worse than the UK, as it emerges the Government now has eye-watering liabilities of more than £2trillion – which is more than 100% of our entire annual GDP. The international financial watchdog last night warned that this leaves the UK dangerously exposed to the next economic downturn. The IMF looked at every state’s assets, from land to energy resources, as well as what they are on the hook for, from pensions to stakes in banks and regular borrowing. Even previously troubled states like El Salvador, Brazil and Albania have less liabilities than Britain. Norway has the healthiest outlook because of its massive oil and gas reserves, followed closely by Russia. Britain’s new debt hole has largely been created by the financial crisis, which … [Read more...] about Britain’s hidden debt mountain is among the WORST in the world, report reveals
Michael B. Sauter, Samuel Stebbins and Evan Comen 24/7 Wall Street Published 12:13 p.m. UTC Aug 27, 2018 By several measures, the national economy is the strongest it has been in decades. The U.S. monthly unemployment rate now sits comfortably below 4%, and we are in the second longest period of GDP growth since World War II. In most states, unemployment has improved in recent years as well, but that is not to say every state economy is equally healthy. Some states are experiencing an economic boom, while others continue to struggle with job losses, poor GDP growth, and poverty. Economic vitality is as much about growth as it is about a state's ability to support its population -- with jobs, education, and economic opportunities. In turn, employed, better-paid, and better-educated residents contribute to economic growth. 24/7 Wall Street reviewed economic growth, poverty, unemployment, job growth, and college attainment rates to compare and rank state economies. The best … [Read more...] about Which state tops list for having the best and worst economies?
BROADBAND speeds in Britain are lagging behind countries like Latvia, Lithuania, Hungary and Romania. In fact, internet speed in the UK is only ranked 35th in the world, slipping four places from last year. The UK might be the sixth largest economy in the world but it's 18.57Mbps broadband speeds are slower than 25 other European countries, including France and Madagascar. Even though this is 16.51Mbps up on last year, the UK is falling behind many other countries who are focusing on installing fibre-optic networks that are capable of super fast speeds. Many parts of Britain continue to rely on old copper telephone wires to get surfers online. The data by Cable looked at internet speeds in 200 countries, and Singapore came out on top with average speeds of 60.39Mbps - more than three times faster than that for Brits. On average, it will take 36 minutes and 46 seconds for Brits to download a 5GB HD movie compared to 11 minutes 18 seconds in Singapore. Scandinavian countries scooped top … [Read more...] about Britain’s broadband speeds are 35th in the world behind Latvia, Lithuania and Romania