The gas price surge across Europe has led to the collapse of two small UK gas providers. Avro Energy and Green, who between them serve just under a million customers, have gone bust due to […]
The US state of Ohio has recently announced an innovative scheme to encourage more people to take the Covid-19 vaccine. From May 26th, all Ohioans over the age of 18 who have received the first […]
With over 15 million people having now received their first of two Covid-19 jabs, there appears to be a rising sense of optimism in the UK economy. This has resulted in the pound hitting its […]
2020 is a year to forget, but we won’t… and despite the economic woes from all over the world, the Chinese economy still managed to finish the year slightly bigger than it was 365 days […]
After months of intense negotiations, the American government looks finally set to inject billions of dollars into the US economy. The so-called “Covid-19 relief bill” should do exactly what it says on the tin: providing […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 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 […]
The government of Singapore has announced an additional US$3.6 billion to support the economy as the city state sees coronavirus cases increase despite earlier signs that the virus seemed to have been contained. The additional […]
Clothing workers in Bangladesh, the South Asian country which is only second place to China in the global manufacturing of clothing, have been hit hard by the worldwide spread of Covid-19. The plummeting demand for […]
As of Wednesday this week, national minimum wage in the UK has increased by 6.2% for those aged 25 and above. This now means that any minimum wage worker over 25 will now be paid […]
With three out of four Americans now under some kind of lockdown, that is around 245 million people who now need to cook for themselves every day. Whilst many may be embracing their kitchens and […]
Whilst economies around the world are still on their knees, China seems to have picked itself back up again, after emerging from the worst of Covid-19’s destruction across the country. In battling the virus throughout […]
Since the outbreak of Covid-19 in January this year, governments and central banks around the world have been spending trillions of dollars in order to keep the global economy afloat. The scale of the economic […]
As consumers around the world look for any way they can to fend off the deadly coronavirus, drinking copious amounts of orange juice has emerged as one of the most popular strategies. Packed full of […]
In response to the economic fallout from the spread of Covid-19 in the US, the Senate has passed a bill which will free up $2 trillion to be used for a coronavirus relief package. Since […]
Using a measure called the broad effective exchange rate, a measurement of a currency’s value against a basket of their major trading partners, the pound has crashed to its lowest level on record. The pound […]
McDonald’s has announced that as of Monday evening it will close all 1,270 of their UK based restaurants until further notice. Employing around 135,000 people across the UK, this is going to put a huge […]
Since the deadly outbreak of Covid-19, there have been cases all over the world of panic-stricken consumers rushing to supermarkets and filling their trolleys with everything they can get their hands on. We’ve mainly heard […]
In yet another unbelievable day of economic policy in action, the chancellor of the exchequer, Rishi Sunak, announced yesterday the latest measures to protect people’s income, keep businesses alive, and encourage spending in the economy. […]
For the second time in a week, the Bank of England has cut interest rates in an attempt to rescue the UK economy from the jaws of a coronavirus induced crash. In an unprecedented move, […]
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