Economy

The lively panel discussion touched on the outlook of the global and regional recovery from the pandemic, particularly China’s rebound and its implications for South-East Asia. The panellists also shared their point of view on how well governments across the region have handled the pandemic and how the varying recovery progress across economies can impact the region moving forward. … [Read more...] about ICAEW: Vietnam is expected to be the only South-East Asian economy to record positive growth this year

Comparing the economy to a patient, Rajan said: “…relief is the sustenance the patient needs while on the sickbed and fighting the disease. Without relief, households skip meals, pull their children out of school and send them to work or beg, pledge their gold to borrow, let EMIs and rent arrears pile up... Similarly, without relief, small and medium firms - think of a small restaurant - stop paying workers, let debt pile up, or close permanently. Essentially, the patient atrophies, so by the time the disease is contained, the patient has become a shell of herself.” … [Read more...] about Raghuram Rajan on Indian economy: Stimulus is the tonic needed for the patient on sickbed

Bank of America’s Merrill Lynch economists raised their projection for third-quarter growth to 27 percent from 15 percent on Friday. They cited stronger than expected in retail sales, the booming housing market, and better than anticipated hiring trends. … [Read more...] about The U.S. Economy Is Recovering Much Faster Than Expected

BERLIN (Reuters) - Germany’s economy slumped in the first quarter at its steepest rate since 2009 with worse expected by mid-year, but it is weathering fallout from the coronavirus better than other EU states where outbreaks have been more disruptive. … [Read more...] about German economy sinks, but skirts worst of virus fallout

The data underscored the daunting task the new prime minister, to be elected in a ruling party leadership race on Sept. 14, faces in seeking to contain the pandemic while avoiding restrictions on business activity. … [Read more...] about Covid-19: Japan’s economy shrinks more than expected in second quarter