Charting the World Economy: 2020 Banking on Friendlier Trade
Policy makers from around the world are hoping America’s freshly inked trade agreements will help spark an improvement in the global economy this year after a dismal 2019.
In the wake of the U.S.-China trade deal and as President Donald Trump readies his signature on the USMCA trade agreement, data this week showed the fallout on Germany’s economy from tepid global demand and trade uncertainty. In the U.S., Federal Reserve rate cuts last year appear to be bearing fruit in the housing market.
Here’s some of the charts that appeared on Bloomberg this week, offering a pictorial insight into the latest developments in the global economy.
New home construction surged in December as low mortgage rates spurred sales and warmer weather allowed crews to step up work. Homebuilding probably contributed to U.S. growth for a second straight quarter.
Germany’s economy expanded in 2019 at the slowest pace in six years, when manufacturing took a battering and the country was dragged to the brink of a recession.
The cost of the U.K.’s productivity crisis is “already multiples of even the worst-case Brexit scenario,” according to Bank of England Chief Economist Andy Haldane.
The deal signed between the U.S. and China brings a pause in the trade war between the world’s two largest economies, but skepticism remains as to whether China can actually buy an additional $200 billion in goods and services, including $95 billion in commodities as promised.
Total government support since the Hong Kong protests started in June is now at more than HK$35 billion, or about 1.2% of 2018 GDP.
The Turkish central bank’s fifth straight interest-rate cut pushed the benchmark below zero, when adjusted for inflation
Wealthy bargain hunters should be wary of splashing their cash in Hong Kong: That’s according to research released Thursday from Julius Baer Group, which broke out the world’s most expensive cities for a variety of luxury goods and services -- from houses to handbags to whiskey.
©2020 Bloomberg L.P.