In late June, the US agreed to enter into the Trans-Pacific Partnership Agreement (TPP). The Agreement is the largest trade treaty entered into by the United States in more than two decades. It encompasses a dozen Pacific nations and could equate to billions of dollars for the US economy as well as a boost to the world’s economic health.
Enormous Agreement
More people are buying homes in the United States, accelerating price increases throughout the country.
Home prices rose 6.3% year-over-year in May 2015 according to the CoreLogic Home Price Index, marking 39 months of consistent year-over-year increases in house prices throughout the country. Thirty-three states saw home prices at record highs, although the index overall remains below the 2006 peak.
According to the latest figures from the National Bureau of Statistics, Kenyan GDP rose by 4.9 percent year-on-year in the first quarter, but tourism was a factor that slowed down the economy. Terrorist organization al-Shabaab is to blame for terrorism in the East African nation, which has kept many tourists at bay. The International Monetary Fund expects 6.0 percent growth in Kenya for 2015, due to such factors as infrastructure investments and declining oil prices, but the government expects 6.9 percent growth for the year.
The Organization for Economic Co-operation and Development (OECD) has noted that growth will likely slow across many of the world’s largest economies, including the U.S. and China. The organization released its warning based on an analysis of information available from May 2015. The latest indicators show slowdowns that could lead to a disappointing year for the global economy.
Uganda’s economy expanded 0.3 percent from January to March, which is considered the nation’s third quarter of the fiscal year. The government expects 5.8 percent growth for the year, an uptick from previous growth of 5.3 percent.
The United States and China have the two largest economies in the world, making an investment treaty an obvious course of action in the opinion of many financial analysts. Yet, such a treaty has been sorely lacking for some time. After seven years of talks, it looks like it could finally come about in the relatively near future. However, the negotiations will soon enter the most contentious phase of talks: discussing formal market access.
The U.S. is importing and exporting fewer goods while the demand for workers rises to a record.
The International Monetary Fund (IMF) is a global organization made up of 188 member countries that works to foster international financial stability and sustainable growth. Thus, when it weighs in on a nation’s financial policies, those opinions usually carry some weight. This is true even when the economy in question belongs to the United States.
Demand for services rose in the U.S. as non-manufacturing activity increased slightly, as many analysts expected.
In June, the Institute of Supply Management’s non-manufacturing index rose to 56%, up from 55.7% in May in a sign that demand for services continued to increase in America. The ISM noted that the reading indicated “continued growth” in the economy, with the gains driven by more business activity and new orders.
More Business
Vietnam’s economy grew 6.28 percent from January to June, the fastest since 2008, according to government figures. The government is easing regulations and privatizing parts of the economy for further economic progress.
