Category: News Desk

Weak Demand Remains throughout U.S. Despite Factory Orders Increase


A surprising jump in factory orders may reverse a decline in U.S. exports, but weak demand remains throughout America and the world.

The trade balance deficit between America and the rest of the world fell 14%, due largely to a major decline in exports, which fell nearly 1% from February, as foreign markets continue to struggle with a strong dollar, low commodity prices, and stagnating growth. Meanwhile, cash-strapped Americans are buying fewer foreign-made goods, as imports fell 3.6% from the prior month.

IMF Says Global Economic Growth Powered by Asia


Many may think that the United States or Europe, as the location of most of the world’s most developed nations, would be driving global economic growth. Asia, however, is actually the area driving global economic growth this year, according to the International Monetary Fund (IMF).

Hungary Will Hold Referendum on Refugee Resettlement


Hungary will hold a referendum in September or October over the European Union’s mandatory migrant resettlement quota, according to Reuters. Roughly 160,000 refugees are looking for host nations, and many governments within the EU have accepted the Brussels-based quota, but Hungarian leadership stresses national sovereignty above all else. The travelers in question are comprised of refugees from war-torn countries and migrants seeking better opportunities.

Home Price Gains as Worker Wages Stall


Home prices are going up even more in America, but wages are not rising for most middle class Americans.  A new study by CoreLogic shows a 6.7% year-over-year increase in home prices in March. Home prices have gone up in every month over the last four years, according to CoreLogic.

WTO Wants to Help Pakistan Grow Its Export Capacity


The World Trade Organisation (WTO) has announced plans to partner with Pakistan to help it grow its export capacity under an “Aid for Trade” initiative. The plan would add value to Pakistan’s products, improve its workforce, provide training, and help the country explore new markets around the world.

Drought Situation Worsens in Ethiopia: Long-Term Aid Needed


The international community is lending a helping hand to Ethiopia as a devastating drought affects over 10 million people, according to Voice of America. Six million children face hunger, with 435,000 at risk of severe malnutrition. Ethiopia will need $1.4 billion in aid in 2016 and additional funds for next year. Officials ordered the drilling of wells to counter the effects of the drought.

U.S. Government Cuts Debt Payments in Half


Amid weakening manufacturing activity and poor economic growth in the beginning of the year, the United States Treasury has decided to pay less debt in the coming months.

The first quarter of 2016 saw America paying $112 billion of its bills, but because of higher spending than expected and lower receipts from a weak tax base, the Treasury’s coffers are being pressured. That means the federal government will pay just $65 billion of its debts in the second quarter, down significantly from the $112 billion it paid in the first three months of 2016.

OECD: Asian Countries Rank Highest in Unique Goods Import and Export


When nations rank highly for imports and exports according to an Organization for Economic Cooperation and Development (OECD) study, that is usually cause for celebration. A recent OECD study, however, has left a number of Asian nations with a bit of a black eye for their popular trade items. The study in question ranked the nations with the largest traffic in counterfeit and pirated goods.

North Korea Amasses Support for Dear Leader


North Korea will conduct a congress this Friday to foster greater support for leader Kim Jong Un and the Workers’ Party of Korea, according to Associated Press. Leaders intend to unify the country against, so-called, U.S. imperialism, while drumming up support for economic progress. The Hermit Kingdom has incurred indignation from world powers as nuclear tests continue, and analysts expect its nuclear program to form a core part of the rallying event.

Weakness in the U.S. Economy Continues to Grow


After a major decline in economic growth, further indicators of weakness in the U.S. economy are coming from various studies.  The Chicago Purchasing Managers Index (PMI) fell to 50.4 in April, indicating that activity just barely expanded. That was far above the expectation that the index would almost hold its previous reading of 53.6.