The accumulated regulations over the decades have been blamed for the slow economic growth in the U.S. A recent study revealed that the buildup of regulations have caused higher costs and more complicated decision-making for the firms operating in the economy.
The New York Fed announced its new GDP tracking and forecasting tool, the FRBNY Nowcast. The tool will use near real-time data to update U.S. economic growth daily, as the Fed will release a report weekly using the tool and data.
Arun Jaitley, India's Finance Minister, has voiced for a possible interest rate cut ahead of Reserve Bank of India's (RBI) review meeting next week, while focusing on controlling fiscal deficit. The Centre has already slashed interest rate on small savings making more conducive weather for lending rate cut.
The rise in household spending has propelled US economy to grow surpass earlier forecasts for fourth quarter of 2015. However, the US GDP growth rate eased in fourth quarter from previous quarter.
Rating agency ICRA forecasts India's gross domestic product (GDP) growth rate at 7.7 percent for next financial year 2016-17. The rating agency cites reasons for GDP growth rate to the implementation of 7th Pay Commission, OROP recommendations and domestic consumption.
Central bank of Chile has not changed its key interest rate for three months in a row even though it recorded the slowest economy growth rate in six years in January 2016. The inflation rate is alarmingly at 4.7 percent above the two percent target of Chile government.
Scottish First Prime Minister Nicola Sturgeon said in an interview that the country’s economy remains strong even amid challenges that she acknowledges. She expects that the huge deficit would be manageable after separation.
Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
China is targeting seven percent gross domestic product (GDP) growth rate for 2016. The Chinese government is keen on real growth prospects over restructuring exercise this year, while avoiding inflating debt or asset bubbles.
Tech salaries are soaring higher, as last year it more than doubles the average pay in other sectors. It proves that the tech industry remains a major driving force in the U.S. economy with high income and massive job gains across the country.
India's budget allocation for the defense sector fell for the first time in the latest Union Budget-2016. India had been increasing military budget since its war with China 1962. It was notably down to 1.65 percent from 1.74 percent in previous budget.
Singapore's GDP has increased 1.8 % in the fourth quater in 2015. For the full year of 2015, it has increased 2%.
Africa's largest trading block is attracting attention of global investors and businessmen. The recent 'Africa 2016' investment forum held in Egypt had participation of over 1,500 businessmen and government representatives. Foreign investors have called for more reforms and policy changes among African nations.
China has unveiled a series of new initiatives to push its economy growth rate. The government is keen on meeting the increasing demand in small and medium-sized homes. Another set of new rules for accelerating reforms at state-owned enterprises will be announced soon.
Turkish government officials acknowledged that the influx of Syrian refugees to the country has contributed in boosting the economy. Turkey’s economic growth has seen an unexpected growth in the third quarter, even as some economic aspects suffered and strained from the flow of migrants.