In 2011, India’s per capita nominal GDP was nearly double (173%) of the per capita GDP of Bangladesh but now Bangladesh has caught up with India’s per capita nominal GDP. India’s purchasing power parity (PPP) GDP per capita of $6,284 is still above Bangladesh’s $5,139. Economists Shoumitro Chatterjee, Pennsylvania State University and Arvind Subramanian, Ashoka …
From 2020 to 2025, the cumulative world economic loss in output relative to the pre-pandemic projected path is projected to grow to $28 trillion. The Pandemic is costing the world economy $4 trillion in 2020. The world will have a lost year and the pause in global growth is not projected to be recovered. The …
Vietnam has increased its 2020 GDP growth target to 3.0% according to the VN Express. The target is 0.5 percentage points higher than the target announced last month. Vietnam has been among the most successful countries at containing Covid-19. They stopped COVID in March and July. Vietnam’s GDP growth fell to a 10-year low of …
The double whammy for the European Union GDP is Brexit and COVID. In 2019, the EU had a combined GDP of $18.3 trillion. The UK leaving removes $2.5 trillion. COVID removed another 10-12% in 2020. The Jan, 2021 GDP will be after Brexit is official and enacted on Dec 31, 2020. $15.8 trillion after the …
The Philadelphia Federal Reserve published results of a survey of 35 economic forecasters on August 14, 2020. They predicted the US economy would expand at an annual rate of 19.1 percent in the third quarter. This was almost double the prediction of 10.6 percent from the last survey. The forecasters expected real GDP to decrease …
Bahrain has joined the United Arab Emirates in normalizing relations with Israel, President Donald Trump tweeted on Friday. Joint Statement of the United States, the Kingdom of Bahrain, and the State of Israel pic.twitter.com/xMquRkGtpM — Donald J. Trump (@realDonaldTrump) September 11, 2020 Bahrain has a population of 1.6 million and a GDP of $39 billion. …
US real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 percent. The US economy shrank 9.5% in the second quarter. The decrease in real GDP …
Russia’s military is so meaningless to the US that the annual report on the capabilities of Russia’s armed forces is two pages long and a one-paragraph disclaimer. Oil and gas production makes up about 39% of Russia’s economy. Oil prices in 2020 are about half the level in 2018. Coronavirus is also impacting Russia’s economy …
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -52.8 percent on June 1, down from -51.2 percent on May 29. After this morning’s Manufacturing ISM Report On Business from the Institute for Supply Management and the construction spending report from the U.S. Census Bureau, …
The IMF has a baseline scenario of -3% world GDP. There is extreme uncertainty around the duration and intensity of the health crisis. They also explore alternative, more adverse scenarios. The pandemic may not recede in the second half of this year, leading to longer durations of containment, worsening financial conditions, and further breakdowns of …
The Nasdaq has a new record high. Global Growth has slowed the last two or three years but global fund managers are seeing a bottoming in global growth. Fedex reports that they project an increase in economic growth in China in the second half of 2020. Moody’s forecasts India’s GDP growth in Fiscal 2020 at …