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Stock market nears record highs, recovery in sight

Stock market: S&P 500 gained 0.3 percent as traders weighed earnings against inflationary risks. Anthem Inc., as well as Verizon Communications Inc., rose following better-than-expected results. Novavax Inc. plunged after a further delay in vaccine production, while Netflix Inc. fell after disappointing outlooks. Tesla Inc. will report results after the close. S&P
Economy News

Germany growth is being hampered by shortages

Growth forecasts predict material shortages will significantly dampen Germany economic recovery, which is heavily reliant on its export industry. Leading economic institutes (DIW, IFO, IFW, IWH and RWI) now forecast an increase of 2.4% in GDP in 2021. Latest estimate was for growth of 3.7% this year, after a historic decline of 4.9% in 2020. […]
Economy News

IMF lowers global economic growth forecast

In its forecast for global economic growth this year, the International Monetary Fund (IMF) slightly decreased its outlook. The IMF forecasts a global economic growth rate of 5.9 percent for this year. It was part of its World Economic Outlook report posted on the institution website on Wednesday. That’s 0.1 percentage points lower than the […]
Economy News

Italy: Automobile production fell by 37.4%

According to figures released by the National Statistics Institute (Istat) on Monday, the decline in automobile production has accelerated sharply from July’s 7.4% drop. Italian automobile production dropped 37.4% in August. This decrease is mostly due to the global shortage of semiconductors, according to data released Monday by the Institute. According to figures