India Has 5.0% GDP Growth Forecast for 2020 as Part of Asia-wide Slowdown

State Bank of India, the country’s largest lender, has predicted that India’s Gross Domestic Product (GDP) growth will drop to a record low of 4.2 percent in the second quarter amid low automobile sales, deceleration in air traffic movements, flattening of core sector growth and declining investment in construction and infrastructure. India GDP growth has …

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Germany and UK Will Be in Recession if Third Quarter GDP Growth is Negative

Germany might have a recession in 2019. Commerzbank Chief Economist Joerg Kraemer and Kiel Institute economist Jens Boysen-Hogrefe agreed that while there is more pain to come for Germany’s manufacturing sector, the nation’s current construction boom would inhibit any government stimulus program. Germany’s second-quarter German GDP was negative and the third quarter we might see …

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USA number one in economic competitiveness for the first time in ten years

The United States is the top ranking country in the World Economic Forum 2018 competitiveness rankings. The USA has not been number one in competitiveness since 2008. At the heart of the competitiveness agenda is the recognition that economic growth is a core driver of human development. There is overwhelming evidence that growth has been …

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Largest consumer markets

Here is a list of the largest consumer markets in 2017. Overall world consumer spending is at about $44 trillion. Country HFCE (millions of USD, nominal) % of GDP Year United States 12,820,694 69% 2016 European Union 9,613,986 56% 2017 China 4,697,723 38% 2017 Japan 2,756,598 56% 2016 Germany 1,952,625 53% 2017 United Kingdom 1,724,051 …

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Early business recovery from a mini-2015 and 2016 recession

Federal Reserve Chairman Jerome Powell sees the U.S. economy generating highly optimistic expectations. The jobless rate is at 3.9% and inflation is around the Fed’s goal of 2%. Historically, low unemployment has fueled inflation and sometimes has forced the Fed into hiking interest rates rapidly. Many forecasters are predicting that these favorable conditions are likely …

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Over 100 million barrels per day of oil consumption later in 2018 which is $2.2 trillion per year at $60 per barrel

OPEC said world oil consumption will reach 100 million barrels per day (bpd) later in 2018. This milestone level will be reached sooner than previously forecast. Mohammad Barkindo told an energy conference in South Africa’s Cape Town that a stable environment was needed to encourage oil industry investment to meet the rising demand. Barkindo said …

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Cubic miles of oil and hundreds of gigawatts per year of added electricity

A cubic mile of oil per year is about 5.084 Terawatts per year with continuous power generation. making current world energy use around 15 TW. The world is using about 3.9 cubic miles of oil per year in electricity. The world was using 3.19 cubic miles of oil per year in electricity in 2006. The …

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