The number of first-time jobless claims in the U.S. has fallen

The number of first-time jobless claims in the U.S. has fallen, but the epidemic challenge remains
According to data released by the US Department of Labor on the 12th, in the week ending November 7, the number of first-time jobless claims in the United States fell 48,000 to 709,000 from the previous month, indicating that the labor market is gradually improving. However, analysts believe that the new crown epidemic has once again intensified and added challenges to the continued recovery of employment. Data show that in the week ending October 31, the number of people applying for unemployment benefits nationwide was 6.786 million, a decrease of 436,000 from the previous month.

Trump: The 2020 presidential election is “unconstitutional”
On November 16, Trump tweeted: “Many of the lawsuits filed across the country are not (initiated) by us, but by those who have witnessed terrible fraud incidents (initiated). Our big cases will It shows that the 2020 election is unconstitutional, and (someone) has done outrageous things to change the results of the election, (these big cases) will soon be submitted (lawsuit)!”

The UK economy grew 15.5% quarter-on-quarter in the third quarter
Data released by the UK National Bureau of Statistics on the 12th showed that after a record contraction in the second quarter, the UK’s gross domestic product (GDP) increased by 15.5% from the previous quarter, but fell by 9.6% year-on-year. Data show that in the third quarter, the output of the service industry, production sector and construction industry in the UK increased by 14.2%, 14.3% and 41.7% respectively. Andrew Suntans, a senior adviser to Cambridge Econometrics, a British economic consultancy, said that although the UK economy rebounded strongly in the third quarter, due to the implementation of a new round of blockade measures in the UK, economic growth is expected to fall in the fourth quarter.

Britain may ban gasoline and diesel vehicles from 2030
According to the British “Financial Times” report, British Prime Minister Boris Johnson plans to announce next week that the sale of new gasoline and diesel cars will be banned across the UK from 2030. Previously, the UK originally planned to ban the sale of new gasoline and diesel vehicles in 2040 to reduce greenhouse gas emissions. Johnson had advanced this deadline to 2035 in February this year. But according to reports, Johnson now plans to advance this deadline again by 5 years, to 2030. However, hybrid vehicles will still be banned in 2035 as originally planned.
Germany’s October inflation rate was negative 0.2%
According to data released by the German Federal Statistics Office on the 12th, due to factors such as lower value-added tax rates and falling energy prices, the German inflation rate in October was negative 0.2%, which is the third time this year that it has a negative value. Data show that in October, German energy prices fell 6.8% year-on-year. Excluding the impact of energy prices, the monthly inflation rate was 0.6%. In addition, food prices rose 1.4% year-on-year in the month, of which fruit and meat product prices rose 3.8% and 4.1% respectively.

India’s October retail price index hit a 6-year high
According to data released by the Central Bureau of Statistics of India on the 12th, the Indian retail price index in October was 7.61%, a record high in six years. Analysts said that the main reason for high inflation is rising food prices. The food price index in October was 11.07%, higher than 10.68% in September. The Central Bank of India predicts that the Indian economy will contract by 8.6% in the third quarter. Affected by the epidemic, the Indian economy fell sharply by 23.9% in the second quarter of this year.

Brazil’s central bank economic activity index rebounded in the third quarter
Data released by the Central Bank of Brazil on the 13th showed that the economic activity index of the Central Bank of Brazil increased by 9.47% from the previous quarter in the third quarter, ending the previous two consecutive quarters of decline, indicating that the Brazilian economy is coming out of a technical recession. Affected by the new crown epidemic, the Brazilian Central Bank’s economic activity index fell sharply in March and April this year, but since the nationwide economic activity resumed in May, the index has gradually recovered. The Brazilian economy fell 2.5% and 9.7% from the previous quarter in the first and second quarters of this year. The Brazilian National Geographic and Statistics Bureau will release third-quarter economic data in early December.

The G20 agrees to take additional measures to support low-income countries in fighting the epidemic
The G20 Finance Ministers and Central Bank Governors held a video conference on the 13th and agreed to take additional measures in addition to the debt relief initiative to help and support low-income countries in responding to the impact of the new crown epidemic. The statement issued by the meeting said that considering the new crown epidemic crisis and the deteriorating prospects of many low-income countries’ debt, it may now be necessary to take additional measures to provide more assistance to the countries concerned according to the specific circumstances. The meeting unanimously agreed and approved the G20 “Common Framework for Debt Handling Beyond the Debt Mitigation Initiative.”

The 37th ASEAN Summit concludes emphasizes working together to tackle the epidemic
The 37th ASEAN Summit and East Asia Cooperation Leaders’ Meetings closed on the 15th. During the meeting, ASEAN countries and their dialogue partners discussed issues such as response to the epidemic, recovery after the epidemic, and the signing of the Regional Comprehensive Economic Partnership Agreement (RCEP) and reached important results. At the closing ceremony, Prime Minister Nguyen Xuan Phuc of Vietnam, the rotating chairman of the ASEAN, said that 2020 is a very challenging year. The meeting discussed a series of practical measures to promote cooperation to meet the challenges of the new crown epidemic and promote economic recovery. The “ASEAN Comprehensive Recovery Plan” and its implementation plan to help companies and people recover from the impact of the epidemic and promote social and economic stability.

1 Response

  1. Aveline says:

    New claims for US unemployment benefits topped 1m again last week, reversing two weeks of declines, according to the Labour department, beating market expectations for 920,000

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