Real estate had the largest annual gain last year since 2008, solidifying its position as the biggest segment of the U.S. economy, reflecting the evolution of America Inc. since the depths of the great recession a decade ago. Manufacturing remained third in importance.
LONDON (Reuters) – Britain will face shortages of fuel, food and medicine if it leaves the European Union without a transition deal, jamming ports and requiring a hard border in Ireland, official government documents leaked to the Sunday Times show.
The South American nation’s long-term issuer rating was lowered by three notches to CCC, signifying a “substantial” risk of default and putting Argentina on par with Zambia and the Republic of Congo.
MEXICO CITY (Reuters) – The Mexican central bank’s surprise interest rate cut on Thursday is likely to have a limited impact at best on lifting growth this year after the sluggish economy narrowly avoided recession in the first half of 2019, analysts say.
1/FED IN A HOLE
Chancellor Angela Merkel and Finance Minister Olaf Scholz would be willing to increase debt in order to offset a tax revenue shortfall due to an economic slump, the magazine said, citing sources in the chancellery and the finance ministry that it did not identify by name.