Category: News Desk

The Week in Review: Australia, Eurozone Mixed as Greek Default Nears


The Eurozone has seen improving inflation and unemployment figures, while a Greek default is challenging expectations of a steadily improving European economy.

European leaders continue to negotiate a settlement of the ongoing Greek debt crisis, as the Greek Prime Minister Alexis Tsipras met with Eurozone creditors to find a way to restructure the Mediterranean country’s debt load. The hope is that the two groups can find a way to help Greece avoid defaulting on its loans, which is likely to happen by the end of this month, if not sooner.

The Venezuelan Economy: Falling Apart at the Seams


Currently, Venezuela’s currency, the bolivar, is worth $0.002, according to CNN Money.  Venezuela suffers from a host of problems, ranging from sanctions to a debt crisis that could lead to default. However, the nation’s currency situation is worth noting, and it is the reason why the income gap has grown exponentially. Wealthier Venezuelans can exchange bolivars for dollars, whereas people in poorer classes have to fend for themselves. One dollar equates to 408 bolivars, compared to 279 bolivars one month ago.

Protecting Oceans Could Add Almost a Trillion Dollars to World Economy Report Says


The World Wildlife Fund (WWF) has long been committed to protecting animals and their natural habitats. For over 50 years, this organization has developed a reputation as one of the most respected and influential environmental groups in the world. As a result, when they offer suggestions, governments tend to listen.

Eurozone Sees Inflation, Falling Unemployment


Two indicators showed renewed strength in European economies, as the Eurozone saw both an end to deflationary trends and a rise in employment.

Prices rose 0.3% in May in the Eurozone, according to a study by Eurostat. Services saw a 1.3% increase in prices, while core inflation rose 0.9%, an increase from 0.6% in April.

Saudi Economy Expected to Grow in 2015


Despite the shock of low oil prices, Saudi Arabia’s real GDP expects to grow 3.5 percent for 2015, according to the Saudi Gazette. Increased spending and oil production will continue to advance the economy, but growth will slow down in 2016 as lower oil prices affect spending.

Is Chinese Production Too Efficient for Global Economy?


China’s economy grew on the back of its impressive manufacturing capabilities. Just over a decade ago, as China sought ways to expand its economy, it turned to manufacturing and exporting, and the investment paid off. For years, Chinese economic growth has been among the best in the world, and China now has one of the most influential economies on the Planet thanks to its highly efficient production facilities, abundant human capital, and low price points for its finished goods.

Australia GDP Rises Despite Disinflation Woes


Australia saw GDP growth accelerated to a 0.9% rise in the first quarter of 2015, above expectations, although incomes have stagnated and economists fear the country is facing a disinflationary trend that is unfamiliar to the country.

Stronger Franc Hurts Swiss Exporters


The Swiss economy contracted at its fastest rate in six years, with GDP falling 0.2 percent in Q1, as the nation’s export capacity suffers from a stronger currency. Exports fell 2.3 percent in the first three months of 2015.

From Manufacturing to Construction, U.S. Shows Signs of Recovery


After an initial quarter of negative growth in the U.S., new economic data indicates a seasonal pickup began in spring.

From manufacturing activity to construction spending, and from personal income growth to purchasing power, the U.S. showed signs of rebounding strength, after posting a 0.7% GDP decline in the first quarter. That fall stunned economists, many of whom predicted more than 1% annualized growth in the period, as port closures on the west coast and cold weather stifled activity throughout the country.

Personal Income Rises

European Economy Showing True Strength


Europe’s economic recovery is gaining momentum, leading to a more positive outlook for the region’s long-term financial prospects. According to Barron’s, gross domestic product (GDP) in the European Union should grow by 1.8 percent in 2015 and 2.1 percent in 2016, and each member state of the EU could see average growth around 1.5 percent.