latest news in economy
Trump's Economic Plans: A Recipe for Soaring Grocery Prices
New York, Wednesday, 13 November 2024.
Nobel laureate Paul Krugman warns that Donald Trump’s proposed mass deportations and tariffs could significantly drive up inflation, particularly affecting food prices. With undocumented workers comprising a large portion of the agricultural workforce, their removal could lead to severe labor shortages and increased production costs.
Restaurants Slash Prices as Consumer Demand for Discounts Grows
New York, Wednesday, 13 November 2024.
Amid easing inflation, restaurants are reducing menu prices to attract cost-conscious diners. This shift reflects changing economic conditions and consumer behavior, with fewer operators raising prices compared to last year. The trend highlights the industry’s adaptation to evolving market dynamics and consumer preferences.
US Inflation Data Fuels Speculation on Fed's Next Move
Washington D.C., Wednesday, 13 November 2024.
October’s Consumer Price Index matched forecasts, with core inflation steady at 3.3%. This data, coupled with falling energy prices and slowing ‘supercore’ services, has increased market expectations of a Fed rate cut in December. Treasury yields dropped in response, reflecting investor relief.
US Inflation Holds Steady at 2.6%, Signaling Economic Stability
Washington D.C., Wednesday, 13 November 2024.
The US inflation rate reached 2.6% in October 2024, aligning with expectations. This marks the first increase in seven months, driven by slower declines in energy costs and steady shelter inflation. Core inflation remained at 3.3%, suggesting a stable economic environment closely watched by investors and policymakers.
Biodegradable Packaging Market Set to Soar to $800 Billion by 2032
New York, Wednesday, 13 November 2024.
The global biodegradable packaging market is projected to reach $800.48 billion by 2032, growing at a 6.0% CAGR. This surge is driven by increasing environmental awareness and evolving consumer preferences for sustainable solutions. The Asia Pacific region currently holds the largest market share, while North America is expected to experience the fastest growth rate in the coming years.
Economist Predicts Continued Bull Market Through 2025
New York, Wednesday, 13 November 2024.
Jeremy Siegel forecasts an extended bull market into 2025, citing strong corporate earnings and economic stability. He warns of potential volatility from tariffs and federal deficits, expecting bond yields to settle between 4.5-5%.
Nutraceuticals Market Expands as Health-Conscious Consumers Drive Growth
London, Wednesday, 13 November 2024.
The global nutraceuticals market is set to reach $460.18 billion in 2024, growing at a CAGR of 10.8%. This surge is fueled by increasing health awareness, changing dietary habits, and personalized nutrition trends, presenting new opportunities for businesses in functional foods and supplements.
S&P 500 Surges Past 6,000: A Milestone or Mirage?
United States, Wednesday, 13 November 2024.
The S&P 500 closed above 6,000 for the first time, marking its 50th record high this year. While this milestone sparks optimism, experts caution against overreliance on round numbers as predictors of future market performance.
U.S. Aims to Triple Nuclear Power Capacity by 2050
United States, Wednesday, 13 November 2024.
The U.S. government has unveiled an ambitious plan to expand nuclear energy, targeting 200 GW of new capacity by 2050. This initiative aims to meet growing electricity demands, support clean energy goals, and maintain America’s position in nuclear technology. The plan includes both large-scale reactors and smaller, modular designs.
Dollar Surges on Trump Victory: Wall Street Unites in Bullish Outlook
New York, Tuesday, 12 November 2024.
The US dollar rallies to its highest since November 2022, driven by Donald Trump’s election victory and proposed tariffs. Wall Street analysts unanimously predict further gains, signaling potential shifts in global currency markets and economic policies.