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
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Support for Italy’s populist Five Star Movement rose over the past year and neared that of the centre-left party of premier Matteo Renzi. But the paralysis that followed the election of Virginia Raggi as Rome’s mayor reversed the trend.
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.
More than four in ten people in Berlin and London are very satisfied with the transport system in the city. The proportion is much smaller in Madrid, Paris and Brussels, while in Rome the vast majority is dissatisfied, according to data from Eurostat.
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.
Services share of global exports rose to 23 per cent in 2015, the highest recorded by Unctad, the UN trade agency. The rise is largely a result of a double-digit drop in the value of goods exports, particularly commodities, and a milder contraction of services exports.
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
OECD composite leading indicators point to economic growth picking up in Brazil. The index is based on historical measures including manufacturing production, trade and order book data to gauge short-term future economic activity. Brazil’s July reading surpassed 100, which indicates the long-term trend.
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
Global migrant remittances fell in 2015 for the first time since the financial crisis, according to the World Bank. India still accounts for the largest inflow, despite a drop compared with 2014, and it is equal with China where they are rising.
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