Norway’s central bank cut rates to a record 1.0 percent as the world economy continues to deal with lower oil prices. Norway’s economy has been struck with rising levels of unemployment and waning consumer confidence, forcing the country’s central bank to consider further easing measures in the coming months.
South Korea has been contending with an outbreak of Middle East Respiratory Syndrome (MERS) for several months. Economists fear the disease could harm the South Korean economy just as it has shown strong signs of recovery from the Global Recession of 2008.
A California-based service known as Uber, has become increasingly popular over the last several years, and has stood at the forefront of the so-called “sharing economy.” The service allows drivers to volunteer their services via a mobile application, and it has deeply cut into the taxi industry in cities Uber services.
The New Zealand economy suffered a setback in the first quarter, with GDP only growing 0.2 percent, the slowest growth in two years. The downfall is attributed to slowdowns in the dairy industry and the mining sector.
News on the US economy has been all over the map. A lower than expected expansion during the winter months earlier this year caused many to decry recovery efforts and proclaim the US economy in a second recession. Yet other analysts more optimistically pointed to sectors that did expand and indicators that showed future improvement in those that lagged. This tennis match of expert opinions has left many investors uncertain what the future will hold for the US economy or how to analyze its recent performance.
Few know much about Sri Lanka beyond its prominent location on the map off the southeast coast of India. However, it may be time for more investors to take notice of this small, developing nation. In the first quarter of 2015, the Sri Lankan economy grew by 6.4 percent. This matches Q4 2014. Sector by sector, the economy has a few notable standouts, as well, with manufacturing up 6.5 percent and services up by 7.5 percent.
One of the biggest debates among world policy makers has been whether it is possible to reduce the world’s greenhouse gas emissions without adversely affecting economic performance. Now, a new report indicates that these two objectives, once believed to be conflicting in nature, may actually be within the world’s grasp.
In a race that grows tighter, Prime Minister Helle Thorning-Schmidt of the Social Democratic party touts her success in getting the economy back on track. Opposition leader Lars Lokke Rasmussen from the Venstre party, a center-right party, claims the same success because of his governance from 2009 to 2011.
A name not often associated with positive news stories has turned a corner. Reuters reported this week on new predictions by the International Monetary Fund (IMF) that show immense economic growth over the next three years.
According to the International Monetary Fund, Ivory Coast’s economy will grow 7.9 percent this year, followed by over 7.0 percent for 2016 and 2017. However, the government expected a greater range of 9.0 percent growth.
