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

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

Real-time data suggest Asia's economy already feeling Delta hit

HONG KONG (BLOOMBERG) – Asia’s economies are already showing a hit from the surging Delta variant of Covid-19 as consumers stay at home and airplanes idle on the tarmac. Early warning signs are showing up in Google mobility data capturing the impact of government restrictions on movement. Flight capacity in

Canada's economy grows more than expected in Oct despite second Covid-19 surge

OTTAWA (BLOOMBERG) – Canada’s economy expanded more than forecast in October, easing worries of a sharp slowdown amid a second wave of coronavirus. Gross domestic product grew 0.4 per cent in October from a month earlier, Statistics Canada said on Wednesday (Dec 23) in Ottawa. Economists were expecting 0.3 per