The Greek government has agreed to a new round of fiscal austerity measures consisting of a sharp increase in taxes on income and property and further reductions in pension and other welfare-related expenditures. Based on our model of the Greek economy, policies aimed at reducing the government deficit will cause a recession, unless other components of
Two of the City’s biggest powerhouses have scrapped their predictions of a post-Brexit recession which would see the UK economy collapse following the EU referendum, and now envisage better-than-expected results in the third financial quarter.
The number of unemployed young people worldwide between the ages of 15 and 24 will rise to 71 million this year, increasing for the first time since 2013. This is the news from the annual World Employment and Social Outlook report released this week by the International Labour Organization (ILO)
Total business sales in the US did in April what they’ve been doing since July 2014: they dropped: -2.9% from a year ago, to $1.28 trillion (not adjusted for seasonal differences and price changes), the Censuses Bureau reported on Tuesday. That’s where sales had been in April 2013!