China stepped up its economic recovery in the third quarter from the coronavirus shock but missed forecasts, pointing to continued challenges for one of the few drivers of global growth this year.
Internal splits in Bolivia’s interim government led to the departure of the country’s economy minister and two other cabinet ministers Monday, stoking uncertainty about the Andean country’s economic recovery from the coronavirus pandemic.
The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank's chief economist Carmen Reinhart said on Thursday.
Oil prices climbed in early trade on Monday, clawing back over half of Friday's losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts.
Over 40 million doctors, nurses and other health professionals from 90 countries, including many working on the frontlines of the Covid-19 pandemic, sent a letter to G20 leaders urging them to put public health at the center of their economic recovery packages, to help avoid future crises and make the world more resilient to them.
Latin American stocks and currencies roared higher on Monday, with Brazil shares rising 3.5% as commodity prices surged on hopes of economic recovery as countries eased pandemic-induced lockdowns.
Manufacturing activity in Brazil expanded in October as strong demand prompted firms to increase payrolls for the first time in three months, bolstering the outlook for a steady economic recovery. The Purchasing Managers' Index calculated by research firm Markit rose to 51.1 from 50.9 in September, holding above the 50 threshold separating a contraction from an expansion for a fourth straight month.
The Bank of England held interest rates at a record low once more this week in spite of mounting optimism over the UK recovery. A flurry of encouraging signs on the UK economy has fuelled expectations for growth to pick up to around 1% this quarter.
US Federal Reserve officials are increasingly confident of the economic recovery but remain unsatisfied with the healing of the job market, minutes of their January meeting released showed.