Vietnam Retail Sales Grew For the First Time Since February

In the second-quarter of 2020, Vietnam’s GDP grew at the slowest rate in several years due to the negative impact of the Covid-19 panemic. GDP in April-June increased 0.36% y-o-y, compared with an economic growth of 6.73% in the similar

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US Personal Income Drops Most in More than 7 Years, While Mexican Economy Contracts 19.9% in April

Mexico’s economy contracted 19.9% y-o-y in April, after shrinking 2.3% in March, but better-than-economists anticipations of a 21.1% decline. It was the fastest contraction in economic activity, against the backdrop of Covid-19 outbreak. Mexico’s economy, which was mainly affected by

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IMF Says Global Economic Recovery to Pre-Covid-19 Levels Will Take 2-Years

In the US, the average cost of single-family houses whose mortgage is guaranteed by Fannie Mae and Freddie Mac rose 0.2% m-o-m in April, following a 0.1% increase in the earlier month. While the house prices fell 0.5% in the

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British Pound Rebounds From Three Week Low

The pound sterling gained 0.6% against the greenback to trade at 1.2430 after declining to a three month low of $1.2337 in the earlier trading session, backed by a weak greenback, chances of a Brexit trade deal and optimistic economic

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US Current Account Deficit Narrows to Lowest Level in Two Years

The dollar index rose to 97.60 versus a bouquet of currencies Friday, near to levels never seen since early June as investors are worried about a second wave of Covid-19 infections and varied economic data unveiled during the week, including

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US Building Permits Miss Forecasts, Permits Rebound

In the US, building permits increased 14.4% m-o-m to a seasonally adjusted yearly rate of 1.220 million units in May, following a five-year low in April and slightly below market’s forecasts of 1.228 million units. Single-family authorizations rose 11.9% and

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China Retail Trade Declines 2.8% y-o-y in May

China’s retail trade fell by 2.8% y-o-y in May, compared with economists’ estimates of a 2% decline and following a 7.5% decrease in the earlier month. It was the worst decline in retail trade since an increase in December last

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UK Economy Contracts at Record Pace in April

The UK’s manufacturing production plummeted at record 28.5% y-o-y in April, following a 9.7% decline in March and worse than predictions for a 19.9% decline. The Covid-19 lockdown enforced from March 23rd had a considerable effect on entire economic activity

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Brazil Inflation Hits 21-yr Low Despite 2234% Rise in Car Production

In May 2020, Brazil’s annual inflation rate declined to 1.88%, from 2.4% in the prior month, but surpassed economists’ forecasts of 1.8%. It was the lowest inflation rate since January 1999, far below the government’s median target level of 4%,

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Japan Economy Contracts Less than Preliminary Estimate in Q1

Japanese economy contracted 0.6% q-o-q in the 1Q20, compared with an initial estimate of a 0.9% contraction and economists forecast for a 0.5% decrease. It was the first contraction since 2015, as the Covid-19 issue had a big negative impact

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