News

China’s credit rating downgraded

China’s credit rating has been downgraded by Standard & Poor’s (S&P) because of worries over the rapid build-up of debt in the country.   S&P cut China’s rating by one notch from AA- to A+, saying its debts had raised “economic and financial risks” and the International Monetary Fund warned…

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Eurozone sees strong growth in September

The Eurozone economy ended the third quarter of the year on a strong note, a survey has indicated.   The IHS Markit composite purchasing managers’ index (PMI) suggested private businesses grew faster than expected in September. It said manufacturers had enjoyed their best month since early 2011.   Chris Williamson,…

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US deficit rises

The US current account deficit rose to $123.1bn (£91bn) in the second quarter, its highest level since 2008.   The rising gap was driven by a $5.2bn fall in income receipts from foreigners, particularly in government fines and penalties. The Commerce Department said exports of US goods also slipped, while…

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UK unemployment rate falls

The UK unemployment fell by 75,000 in the three months to July, bringing the jobless rate down to 4.3% from 4.4% in the previous quarter.   The rate remains at its lowest since 1975, but a squeeze on real incomes continues, according to the Office for National Statistics figures.  …

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