On Wednesday, Greek prime minister Alexis Tsipras told Reuters that the country could beat expectations and report an expansion in 2016.
The consensus among economists is that the Greek economy will expand in 2017, and in their latest Economic Outlook the OECD also stated that “growth is projected to turn positive in the second half of 2016”. Positive trends are already visible, yet it might be too soon to call this the beginning of a recovery. Read more
International migration is growing once again, having tailed off after the financial crisis, an OECD report released this week has found.
4.8 million people migrated permanently to OECD countries in 2015, a 10 per cent increase on 2014 and surpassing the previous record set in 2007. Read more
How is a country’s wealth affected by removing its capital city? The Cologne Institute for Economic Research set to find out.
Factoring out London and its residents, the 2014 per capita GDP fell by 11 percent. Nearly one out of every four pounds of the British GDP is earned in its capital city. Read more
In the mid-1990s the US, Japan and the countries that now form the eurozone accounted for similar shares of global investment, just above 20 per cent. Since then China’s share has risen; it became the biggest investor in 2010.
The US Census Bureau delivered an unexpectedly rosy report on poverty and incomes, which showed the biggest improvement in decades on both fronts. The median household income in 2015 was $56,500, up 5.2 per cent from the previous year, the largest single-year increase since records began.
Britain’s unemployment-to-vacancy ratio for April to June 2016 dipped to its lowest level since the start of 2005, below its pre-downturn average. According to the Office for National Statistics this may reflect a tightening of the labour market.
The US Treasury Department has run a census of same-sex couples three years after the Supreme Court gave them federal recognition.
Using figures from tax returns jointly filed by same-sex couples in 2014 with their Social Security records, researchers found there were 183,280 same-sex marriages in the US that year – equivalent to roughly 0.33 percent of all marriages. Read more
Theresa May, Britain’s prime minister, announced on Friday the expansions of grammar schools. Read more
Asia is the world’s most crowded region, with about 142 people per square kilometre, more than double the global figure. African density has doubled in the last 20 years and the continent is now more crowded than Europe and Latin America. Read more
Turkish, Romanian and Nigerian migrants are the least welcome in the UK, according to a recent survey of 1,668 Britons from YouGov, which put migrants from Ireland, the US, Canada and Australia at the top.
The survey asked whether more immigrants from a number of countries should be allowed into the UK, versus the same amount, less, or none at all. A net figure was then derived from each answer. Read more
It’s happened to all of us: you’re in a part of town you haven’t visited before, and as you walk along the road the storefronts become gradually more decrepit, increasingly interspersed by corrugated shutters.
You ask yourself: why is this bit of town so strangely quiet? What makes this area economically unsuccessful? Read more
A recent earthquake reduced large parts of central Italy to a pile of rubble and killed almost 270 people. Though shallow, the tremor was felt in buildings as far as Rome and Florence. At 6.2 magnitude, it was the second strongest in 35 years on the peninsula.
Italy’s position close to the boundary of two tectonic plates makes it more prone to devastating quakes than any other European country. Not only do barely perceptible minor tremors occur frequently, but Italy has regularly suffered from major quakes that take lives. Here, we look at how the death toll from earthquakes in Italy compare to other Southern European regions over the last century.
Poland expects its unemployment rate to hit the lowest level in the country’s post-communist history as youth employment picks up. The unofficial estimate by the Ministry of Family, Labour and Social Policy puts it at 8.6 per cent, lower that at any point since Poland shed the legacy of over-employment under communist rule and became a market economy in 1990.
Donald Trump’s hopes of being elected to the White House are crumbling, according to statistic-driven website FiveThirtyEight whose forecast factors in economic and historic data as well as polls. Trump’s campaign has been in trouble ever since he criticised the parents of an American Muslim soldier killed on duty. According to the New York Times, “no modern candidate who has trailed by this much a few weeks after the conventions has gone on to win the presidency.”
Since its transfer to Broadway, Hamilton has grossed more than $95 million, not counting the millions it has lost every week to ticket resellers. The show’s high profile and financial success has brought more attention to Broadway and theater, but that hasn’t translated to necessarily better outcomes for the other musicals on Broadway. Read more
European banks have been shrinking since the financial crisis, dwindling both in terms of their market value, number of branches and staff. Their fortunes have suffered and profits fallen as a result of stricter regulations, general economic weakness and low interest rates.
It’s unlikely that they will ever be the same again. All the more so as the decline in Europe’s over-reliance on banks could present new opportunities for the region to develop much-needed alternative financing channels. Read more
UK real wages have fell by -10.4 per cent between 2007 and the end of 2015, the most severe fall in the OECD along with Greece, according to TUC analysis. Apart from Portugal, all other OECD countries saw real wages increase. The UK is the only country in this grouping to have seen wages go down couples with a strong performance in employment. The UK’s employment rate is indeed at a record levels, some 5 percentage points above the OECD average.
Russia is the only country of the G20 major economies where people would rather Donald Trump was the next President of the US than Hillary Clinton, according to a survey of 20,000 people in every G20 country.
The fate of EU migrants in the UK hangs in the balance, but the UK government has stated that those who have lived “continuously and lawfully” in the country for at least five years will automatically have a permanent right to reside.
The five years will start to count once Britain has officially left the European Union, which will most likely happen two years after Article 50 is triggered thereby starting the ‘divorce’ proceedings. Read more
Italy’s unemployment rate rose to 11.6 per cent in June. Although this is a marginal rise, it is worrying for a country that is struggling to recover after multiple recessions and weak growth.
Yet there are reasons to remain optimistic. Read more