In the last few months, American consumers have been going mad for online shopping, with the result being a buoyant shipping industry across the transpacific. In these coronavirus times, consumer demand for household goods has […]
The unemployment rate in the UK has risen to its highest level in two years, with an official figure of 4.1% released by the office for national statistics. Given the devastating impact of Covid-19 on […]
Biscuit fans beware, if either Jamie Dodgers or Wagon Wheels are amongst your favourites, the followings news may be distressing. Production of Jammie Dodgers and Wagon Wheels could be stopped this month as factory workers […]
According to research from Oxford Economics in 2019, up to 20 million manufacturing jobs could be replaced by robots by 2030. If we then add in those jobs from other sectors which could be easily automated, […]
Since the UK government introduced a 5p charge for single-use plastic bags in 2015, millions of shoppers are now choosing not to use them. In data compiled by the UK government, it was found that […]
According to the latest research on the economic impact of Covid-19, the OECD has announced that the South Korean economy is likely to “only” shrink by -0.8% this year. Whilst all negative GDP growth is […]
What happens when you’ve got too many nuts, and not enough people to sell them too? Easy… you lower the price! That’s the price mechanism in a nutshell… This is exactly what is happening in […]
Inflation in India, the fifth largest economy in the world, stood at 6.9% in July according to the latest measurement of the CPI (consumer price index). This means that inflation in India has been above […]
According to data released by the US Labour Department, new unemployment claims for the week ending August 15th stood at just over 1.1 million people, up 135,000 from the week before. This data paints an […]
In a move which could transform the nature of the food delivery industry, Jitse Groen, the CEO of Just Eat Takeaway, has recently announced that he would like to shift the firm’s employment model away […]
The results are out for the economic impact that Covid-19 has had on the world’s major economies in the first six months of the year… and unsurprisingly, they are showing unprecedented levels of global economic […]
Governments need to keep track of their spending just like we all do. If they spend more than they earn, just like our bank balance goes into the red, so does theirs! This is commonly […]
Tesco, the UK’s largest supermarket chain, has reached out to their suppliers and asked them to ‘kindly’ reduce the price of their products. In an attempt to reduce their costs and compete with low price […]
As economies around the world continue their lockdowns and domestic battles against Covid-19, world trade has been declining at an unprecedented rate. According to a report by the Netherlands Bureau for Economic Policy Analysis, the […]
As Covid-19 shows no sign of abating, the damage it has caused to the global economy continues to grow. As a result, the IMF is now predicting a global economic contraction of almost 5% this […]
As economies around the world continue to be shattered by the economic consequences of Covid-19, millions of business have found themselves running out of cash. Stemming from huge declines in demand for almost every good […]
Government spending is a complicated business. In a mixed economy, the role of the government is undoubtedly vital in providing much needed public goods such as roads, schools, hospitals, and of course every economics teacher’s […]
The aviation industry has been one of the hardest hit by Covid-19. With countries closing borders and people ordered to stay at home, the demand for air travel has plummeted. The result has been a […]
One thing we will learn from this pandemic is that when people see a crisis coming, they buy A LOT of toilet paper. The surging demand has been one of the most fascinating and […]
Josh Frydenberg, the Australian Treasurer, announced on Wednesday that the economy is likely to have shrunk by as much as 9% from April to June. This further decline in size, following a 0.3% contraction in […]
The economic impact of Covid-19 has been devastating and wide-reaching. One country which is suffering significantly is South Africa, where going into lockdown has stifled almost all economic activity. As South Africa, the second largest […]
The president of France, Emmanuel Macron, announced this week a fiscal stimulus of €8 billion to help the French car industry. His government are hoping that the cash injection will not only help domestic auto […]
As the world’s economies continue to reel from the damage caused by the spread of Covid-19, Supercar manufacturer McLaren is the latest company to announce a huge wave of layoffs. The British based firm is […]
Whilst India was initially praised for their response to the Covid-19 crisis by organising a mass lockdown that effectively took 1.3 billion people off the streets, the subsequent effect on their economy will be severe. […]
The inflation rate in Canada entered negative territory in April, as year-on-year inflation was measured at -0.2%. This essentially means that the average price level in Canada was 0.2% less in April this year, than […]
Australia’s barley producers are about to feel the full force of Chinese protectionism after the Ministry of Commerce (MOFCOM) announced on Monday that an 80.5% tariff would be imposed on barley exports from Australia. The […]
With unemployment levels soaring across the world, the ILO (International Labour Organisation) released a policy brief which outlined the steps they recommend for global governments to take in order to mitigate the impact of the […]
The latest in a long list of ‘historic lows’ since Covid-19 wiped out the global economy is the total collapse of the American retail sector. Data released by the US Census Bureau has shown that […]
India, the second largest country in the world with a population of 1.35 billion people, has now been in lockdown for over 50 days. The impact of such a widespread stay-at-home order has had a […]
In recent years, the automotive industry has experienced a number of mergers leading to the market becoming increasingly dominated by a few large firms, who by joining forces are only getting larger. The proposed $50 […]
Saudi Arabia, the second largest oil producing nation in the world, has for the last few years been trying desperately to diversify its economy and reduce their dependence on the export of oil. Despite being […]
The housing market in the US has had a strong rebound since the financial crisis of 2008. After house prices plummeted just over 10 years ago, the last decade has seen a strong and steady […]
In April, the UK government launched an unprecedented job retention scheme to combat the economic fallout of the coronavirus on employment. Under the scheme, the UK government will fund 80% of workers’ wages, up to £2,500 a month, […]
After coming to a grinding halt in February this year, the Chinese economy is open again and gradually returning to normality. The first sign of this is that the air is hazy once again, which […]
The stats are now out on the performance of the American economy for quarter one of 2020, and it’s not good news. According to the US Bureau of Economic Analysis, the world’s largest economy contracted […]
In this crazy new world we live in where everybody stays at home, one company which has benefitted hugely and seen soaring sales is the online e-commerce giant Amazon. As Covid-19 has continued to cause […]
According to a report released by the World Trade Organisation (WTO), there is a growing number of countries around the world who are placing restrictions on exports in order to secure domestic supplies of certain […]
According to a report by the World Food Programme (WFP), the economic and social disruption caused by the spread of Covid-19 has significantly increased the risk of a hunger pandemic in the poorest regions of […]
In the last three months, governments around the world have been spending huge sums of money on packages to reduce the economic devastation being caused by Covid-19. So far, the global response has amounted to […]
Netflix and chill? Yes please, but not with a Coca-Cola. Recent announcements from these two corporate giants have given us an interesting insight into consumer trends and how staying at home is affecting demand differently […]
Since the outbreak of the coronavirus in January this year, there have been numerous economic events which have been simply unprecedented in their nature. The latest of these, in the wacky world of Covid-19, is […]
Since the US economy was essentially shutdown four weeks ago, the economic fallout has been tremendous and devastating. With businesses closing across all sectors of the economy, millions of people have been forced into unemployment. […]
China’s unbelievable economic growth streak of over forty years has finally come to an end today, with the world’s second largest economy recording a negative growth rate of -6.8% in the first quarter of 2020. […]
The economic impact of the coronavirus is unprecedented and far-reaching. People all over the world have been affected in some way, and it is likely that our lives will never be the same again. One […]
According to the IMF, the world economy is predicted to experience negative economic growth of -3% this year. This projection comes after the IMF released their latest world economic outlook report a survey which is usually […]
The market for oil could be set to rebound following the announcement from OPEC that a deal had been reached between the Saudi-led cartel and other major oil producers around the world. This should bring […]
The economic fallout from the spread of the deadly coronavirus around the world has been unprecedented. In this age of globalisation and economic interdependence, no economy is able to escape the consequences as demand dries […]
The global fashion industry, valued at over US$2 trillion, has been hit extremely hard by the worldwide spread of Covid-19, resulting in business closures, loss of jobs, and plummeting sales throughout the whole supply chain. […]
For a student of economics, one of the first concepts we learn about is the different types of goods. That is a normal good, a luxury good, and an inferior good. By normal, we don’t […]
The cost of petrol in the UK is nearing £1 for the first time in four years. This is the result of an extremely volatile start to 2020 for the petrol market as it encounters […]
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