British workers’ pay grew at its joint fastest pace in over a decade, fueled by further job creation, adding to suggestions that Brexit uncertainty is prompting firms to hire workers rather than make longer-term investment in equipment.
China’s first-quarter economy growth likely cooled to the weakest pace in at least 27 years, a Reuters poll showed, but a flurry of measures to boost domestic demand may have put a floor under slowing activity in March.
The German government is set to halve its 2019 growth forecast for Europe’s biggest economy, a government source told Reuters on Friday, reflecting a worsening slowdown linked to a recession in the manufacturing sector.
Last week marked the 10th anniversary of the London G20 summit, an event that took place at the low point in the deepest slump since the 1930s, yet represented the high point of international cooperation.
A major political standoff over Britain’s withdrawal from the European Union has caused the economy to stagnate as business groups and industries report almost zero growth for the first three months of this year.
China’s decision to increase its budget deficit ratio to 2.8 percent this year from 2.6 percent in 2018 is appropriate for the economy, and leaves room for policymakers to maneuver, Finance Minister Liu Kun said on Thursday.
After tamping down on shadow banking in the last few years, China will now likely encourage such lending to boost economic growth, a Chinese economist told CNBC on Monday ahead of the country's annual parliamentary session.