Global trade is rebounding much more quickly this year than it did after the 2008 financial crisis, lifting parts of the world economy and defying predictions the pandemic could send globalization into permanent retreat.
When the new coronavirus hit earlier this year, international trade in goods suffered the biggest year-over-year drop since the Great Depression. Economists warned of rising protectionism, and some companies said they would reassess overseas supply chains that were vulnerable to unexpected shocks.
Trade remains below pre-pandemic levels. Still, it has snapped back robustly—and had recovered about half of this year’s historic loss by June, according to calculations by the Kiel Institute for the World Economy, a German think tank.
New export orders were growing in 14 of 38 economies measured by research firm IHS Markit in August, compared with just four in June. Others were trending in the right direction...
- Official data show redundancies growing at the fastest rate since 2009Unemployment rises to 1.4 million, jobless rate up to 4.1%, but numbers set to rise sharplyJob vacancies rise but demand for staff remains subdued, leading to net fall in employment
- Eurozone manufacturing upturn rose 4.7% in July after double-digit gains in prior two monthsPMI output index showed only modest improvement in growth rate in AugustRising infection rates mean lockdowns eased only marginally in August, and could threaten growth in coming months
The following is an extract from IHS Markit's latest Week Ahead Economic Preview. For the full report (including Special Reports) please click on the link at the bottom of the article.
Download full report
S&P500 | |||
---|---|---|---|
VIX | |||
Eurostoxx50 | |||
FTSE100 | |||
Nikkei 225 | |||
TNX (UST10y) | |||
EURUSD | |||
GBPUSD | |||
USDJPY | |||
BTCUSD | |||
Gold spot | |||
Brent | |||
Copper |
- Top 50 publishers (last 24 hours)