Americans sour on economy amid inflation woes, according to poll

SAN FRANCISCO — Americans’ opinions on the U.S. economy have soured noticeably in the past month, a new poll finds, with nearly half expecting economic conditions to worsen in the next year. Just 35% of Americans now call the national economy good, while 65% call it poor, according to a

US economic growth slows sharply in Q3 on supply chain woes

WASHINGTON (BLOOMBERG) – US economic growth slowed more than expected in the third quarter to the softest pace of the pandemic recovery period as snarled supply chains and a surge in Covid-19 cases throttled spending and investment. Gross domestic product expanded at a 2 per cent annualised rate following a

Inflation from supply crunch giving central banks an unfixable problem

HONG KONG (BLOOMBERG) – The global economy’s supply crunch is propelling inflation at such a fast pace that central bankers may be forced to respond, even though fixing that imbalance is beyond their power. Their dilemma is that it is hard to tell just how much of the inflation is

Debrief: China's power crunch could add to rising inflation in Singapore

SINGAPORE – A shortage of affordable electricity in China since last month has resulted in blackouts and disrupted production in the world’s second largest economy. Its impact is already hurting supply chains and could add to rising global inflation, including in Singapore. Please subscribe or log in to continue reading

MAS tightens Singdollar policy earlier than expected amid rising inflation

SINGAPORE – In a surprise move, Singapore’s central bank tightened monetary policy on Thursday (Oct 14), saying it expects rising inflation and aims to ensure price stability over the medium-term. The Singapore dollar jumped about 0.3 per cent after the announcement to hit a three-week high of 1.3475 per US

IMF cuts global growth outlook as supply bottlenecks hobble pandemic recovery

WASHINGTON (REUTERS) – Persistent supply chain disruptions and pricing pressures are constraining the global economy’s recovery from the Covid-19 pandemic, the International Monetary Fund (IMF) said on Tuesday as it cut growth outlooks for the United States and other major industrial powers. In its World Economic Outlook, the IMF trimmed

Republicans withhold support for US debt ceiling increase

WASHINGTON (AFP) – Republicans leaders in Congress on Tuesday (Sept 14) continued to withhold support for efforts by the Democratic majority to increase the United States debt ceiling. Treasury Secretary Janet Yellen warned last week that the government will run out of money next month unless lawmakers take action, and

China's factory activity expands at slower pace in August

BEIJING (REUTERS) – China’s factory activity expanded at a slower pace in August, while the services sector slumped into contraction, as coronavirus-related restrictions and high raw material prices pressure businesses in the world’s second largest economy. The official manufacturing Purchasing Manager’s Index (PMI) was 50.1 in August from 50.4 in

Dollar licking wounds, gold holds above US$1,800 as Covid-19 fears persist

SINGAPORE/BENGALURU (REUTERS) – The dollar was smarting on Tuesday following its sharpest one-day fall since May, though traders were wary of chasing the mood-driven move lower ahead of a Federal Reserve symposium that could map out an end to stimulus and asset purchases. The greenback dropped more than 1 per