European Commission revealed Autumn 2020 Economic Forecast

The FINANCIAL — The coronavirus pandemic represents a very large shock for the global and EU economies, with very severe economic and social consequences. Economic activity in Europe suffered a severe shock in the first half of the year and rebounded strongly…

11 mins read

Oil price down as Trump tests positive for COVID-19

The FINANCIAL — Oil fell by 5% on Friday after Trump tested positive for coronavirus. It was already in negative territory after a bipartisan deal on U.S. stimulus continued to elude House Speaker Nancy Pelosi and the White House, adding to fears about worsening…

5 mins read

Georgia’s GDP declined by 5.3% in August 2020

The FINANCIAL — National Statistics Office of Georgia published data of rapid estimates of economic growth. Estimated real Gross Domestic Product  (GDP) declined by 5.3 percent in August 2020 YoY. Asian Development Bank’s new report says that Georgia is forecast to return to the…

3 mins read

Australia falls into the first recession in nearly 30 years

The FINANCIAL — 2020 is the year Australia technically lost its famous nickname as ‘The Lucky Country’ and fell into recession for the first time in almost three decades. Australia last fell into recession in mid-1990 which ran into late 1991. But the…

5 mins read

U.S. Economic Confidence Index Stable at -14

{rating}The FINANCIAL -- Americans' confidence in the U.S. economy has leveled off, with Gallup's U.S. Economic Confidence Index averaging -14 for the week ending May 8. This score is similar to the -15 and -16 found the previous two weeks.…

3 mins read