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Economy

DRIVER: The global economy still faces serious headwinds and political uncertainty potentially balanced by the enormous promise of technological advancements in many fields. Read on to get a solid handle on the opportunities and risks you and your organization may likely face and set your sails accordingly.

  • [New] Global consumption is expected to increase by 4.2 million barrels a day in 2022 to 100.8 million barrels a day, 980,000 barrels a day higher than last month's estimate and exceeding pre-pandemic levels. BloombergQuint
  • [New] Apple tends to keep the cost of its new iPhones relatively close to its most recent prior models, but iPhone 13 prices could be slightly higher in 2021 due to current issues with chip supply that are expected to hike prices. CNN
  • [New] As a middle power with an open economy, Australia's strategic interests are deeply intertwined with the risks and opportunities associated with geoeconomics and changes to supply chains. Asia Society
  • [New] In cutting-edge new research conducted at the Australian National University, researchers are looking at a more sustainable solution for steel production and a low carbon opportunity for Australia-China trade. Eventbrite
  • [New] Russia has limited pipeline exports to Europe because of high domestic demand, output disruptions and high liquified natural gas (LNG) prices related to Asia's economic recovery. Bruegel
  • [New] The Arizona Department of Economic Security announced last Thursday that it will put $2.5 million towards wage increases for home care providers to elderly Arizonans. news.azpm.org
  • [New] The platinum group metals have also seen producer selling, MKS goes on, squashing prices as there is no or very limited auto demand due to the chip shortage, [which is] clearly more severe than markets anticipated. BullionVault
  • [New] Some policymakers, such as the Federal Reserve, use core inflation to predict inflation because food and energy price volatility can make it difficult to discern trends from the overall inflation rate. Central Asia-Caucasus Institute
  • [New] A Temporary expansions to the CTC under the Tax Cuts and Jobs Act of 2017 will expire at the end of 2025, while additional temporary expansions to both the CTC and the EITC enacted by the American Rescue Plan Act of 2021 will expire at the end of 2021. Central Asia-Caucasus Institute
  • [New] The resource and waste sector will sit at the heart of a post-pandemic green recovery and will play a critical role in helping to achieve the UK government's ambitious environmental targets in years to come. wamitab.org.uk
  • [New] The Bank of England expects inflation to hit around 4 pc in the final three months of the year, with price growth likely to stay strong through the early months of 2022. The Telegraph
  • [New] The Bundesbank expects a return to significantly higher inflation rates from the current month on, with inflation potentially temporarily exceeding the 4% mark by the end of the year. Bundesbank
  • [New] The European Chamber of Commerce in Vietnam estimated that 18% of its members have relocated part of their production to other countries to ensure their supply chains are protected, with more expected to follow. BloombergQuint
  • [New] Pressure is mounting on Norway to change by emulating neighbouring Denmark, which is ending fossil fuel exploration and aims to halt all production by 2050. The Guardian
  • [New] The heavy import duties thereby affect the price of Tesla cars which could considerably shrink its market in India. Republic World
  • [New] WASHINGTON-House Democrats proposed extending the expanded child tax credit through 2025 and making permanent its key feature aimed at helping low-income families, as part of a plan to provide tax breaks for families and renewable-energy producers. WSJ
  • [New] Each person's emissions could quite well result in a cost to humanity of over $1,300 per year, rising to over $15,000 once the impacts of climate change on economic growth are included. Phys Org
  • [New] By 2100, global GDP could be 37% lower than it would be without the impacts of warming, when taking the effects of climate change on economic growth into account. Phys Org
  • [New] Inflation is then expected to drop back to the Bank of England's 2% target in Q4 2022 UK official interest rates are expected to start rising in Q4 2022, followed by a second rate rise in Q4 2023. Yorkshire Times
  • [New] By maintaining the core framework of UK GDPR, with improvements, we hope that it will be possible for UK to be the world's most innovative economy while maintaining an equivalent or higher level of data protection. Research Live
  • [New] China could well overtake the US as the prime global power within decades; it is already primed to beat the US in gross domestic product by the end of this decade, and as a frontier technological power too. New African Magazine
  • [New] A strong recovery for domestic workers, street vendors, agricultural workers, and other informal economy workers will be the linchpin for a strong global economic recovery. Progressive International

Last updated: 14 September 2021


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