post image

‘A lot of pain’ for businesses, economists say in report

Businesses in the US and Europe are reporting some of the largest economic contraction in their lifetimes.In its annual economic freedom index, the International Monetary Fund said this year’s contraction in the eurozone and Japan was “a big deal.”“The decline in output and prices in the Eurozone and the Japanese economy is the largest since

post image

Why the ‘recovery’ has been so short and slow in the US economy

Now Playing: The US economy is shrinking at a slower pace than most economists expect…Now Playing: What you need to know about the coronavirus outbreakNow Playing ‘This is a crisis that has gone far beyond our imagination’: Obama on US economyNow Playing Obama: ‘This isn’t the time to be blaming others’Now Playing President Obama calls

post image

A new global economic order, as predicted by economists

A new economic order has been created in the world economy, which economists predict will lead to higher economic growth.The economic order is predicted to be more open and transparent, with a higher level of trade and a greater degree of political and economic integration.The economic order will include an economy which has a high

post image

What is a recession?

The UK is in its third recession since the global financial crisis of 2008, with the economy shrinking by 1.2 per cent last month and the unemployment rate rising to 12.4 per cent.It has also become the world’s fifth-largest economy.Key points: Unemployment rate has risen to 12 per cent, up from 11.4% a year ago.The