Economics

Study: “Hard” Brexit Could Threaten 18,000 Auto Jobs in Germany

June 22, 2017 at 12:19 PM

If the U.K. leaves the European Union without securing favorable trade deals, the resulting slump in car sales in England could jeopardize 18,000 auto factory jobs in Germany, say consultants Deloitte Touche Tohmatsu Ltd.

U.S. Says No Deadline on New NAFTA Deal

June 21, 2017 at 3:17 PM

The U.S. could update the North American Free Trade Agreement with Mexico and Canada by year-end, but it says there is no formal deadline for a new deal.

British Carmakers Renew Warnings about a “Hard” Brexit

June 21, 2017 at 12:30 AM

Carmakers in the U.K. predict permanent economic damage if the country fails to negotiate an interim trade deal with Europe when it exits the EU in 2019.

EU Poised to Scrap Import Tariffs on Japanese Car Parts

June 19, 2017 at 2:00 AM

The European Union is prepared to begin phasing out import tariffs on more than 90% of car parts imported from Japan—if Japan will do the same on such European products as cheese, wine and processed foods, The Nikkei says.

Fed Raises Interest Rates Another 0.25%

June 15, 2017 at 12:03 AM

The Federal Reserve is raising its benchmark lending rate by one-quarter percentage point today to a range of 1.0%-1.25%, its highest level since 2008.

Oil Prices Slide to 7-Month Low

June 14, 2017 at 5:23 PM

Oil futures sagged to their lowest prices since mid-November because U.S. inventories of commercially available crude remain higher than expected.

Confidence in Germany’s Long-Term Economic Outlook Slips

June 13, 2017 at 10:56 AM

A monthly poll of financial market experts finds rising confidence in Germany’s current economic conditions but a slightly less optimistic view of the future.

ECB Raises European Growth Forecasts

June 08, 2017 at 5:52 PM

The European Central Bank has slightly increased its forecast for economic growth in the eurozone through 2019.

South Africa Slips into Recession

June 06, 2017 at 12:49 PM

South Africa’s gross domestic product shrank by 0.7% in January-March, dragging Africa’s third-largest economy into its first recession since 2009.

Economic Growth in Eurozone at 6-Year High

June 06, 2017 at 12:41 AM

Economic growth in the eurozone continued in May at its fastest pace in six years, according to the IHS Markit Eurozone PMI Composite Output Index.

U.S. Unemployment Drops to 16-Year Low

June 05, 2017 at 1:00 AM

The jobless rate in the U.S. declined to 4.3% in May, its lowest level since 2001, according to the Dept. of Labor.

U.S. Trade Deficit Deepens

June 02, 2017 at 10:40 AM

America’s goods and services trade deficit widened 5% to $47.6 billion from March to April, the U.S. Dept. of Commerce says.