Breaking News

Construction spending in the United States declined in June to its lowest level in a year, as shown by the data of the U.S. Department of Commerce. Construction spending decreased by 0.7% to $1.355 trillion, May’s reading was revised from a 2.1% decline to 1.7%.

The United States economy saw its worst quarter on record, after the gross domestic product (GDP) contracted by around 33% during the second quarter (Q2) of 2020, due to the COVID-19 pandemic. Preliminary data by the US Department of Commerce showed that GDP declined by 32.9% on an annual basis. …

The President of the United States, Donald Trump, has suggested delaying the 2020 presidential elections, which is set to take place next November, due to the COVID-19 pandemic. Trump has called in a tweet on Thursday for delaying the elections “until people can properly, securely, and safely vote.” The US …

Germany’s gross domestic product (GDP) recorded its worst decline on record during the second quarter (Q2) of 2020, contracting by 10.1%, as shown by preliminary official data. Moreover, the German economy contracted by 11.7% on annual basis during Q2 of 2020. The COVID-19 crisis has negatively impacted Germany and much …

The German economy contracted in the second quarter of 2020 by 10.1% vs. -9.0% expected, it’s the biggest decline on record, as shown by preliminary data on Thursday. On a yearly basis, the German gross domestic product (GDP) contracted 11.7% vs. -10.9% decline expected by analysts, according to the German …

The seasonally adjusted unemployment rate in Germany came in at 6.4% in July vs. 6.5% expected. The figure is better than expected by analysts. Data released earlier beat expectations with the unemployment change falling by 18k in seasonally adjusted terms compared to estimates of an increase of 43k. The adjusted …

The United States Federal Reserve announced on Wednesday that the Federal Open Market Committee (FOMC) has decided to maintain interest rates at a range between 0% and 0.25%.

Wholesale inventories in the United States declined by 2% during June, against market expectations of a 0.5% decline. Meanwhile, retail inventories fell by 2.6%, below market estimates of a 2.7% decline.

The Pending Home Sales Index in the United States rose by 16.6% to 116.1 in June, according to data released by the National Association of Realtors on Wednesday. Pending home sales also increased by 6.3% on an annual basis.

The Federal Reserve Bank of Dallas manufacturing general business activity index improved in July to -3 from -6.1 in June. The company outlook index registered a second consecutive positive reading, increasing three points to 5.9. Meanwhile, the index measuring uncertainty regarding companies’ outlooks surged from 9.1 to 20.9. The Texas …