Economic News

Australia's budget returned to balance in the 2018-19 financial year for the first time since 2007-08, Federal Treasurer Josh Frydenberg said Thursday. According to the Final Budget Outcome for the 2018-19 financial year, the budget deficit was A$13.8 billion better than estimated at the time of the 2018-19 Budget. The deficit of A$690 million represented 0.0 percent of gross domestic product. Read more...

Denmark's economic growth is set to ease in the coming two years due to the impact from a slowing global economy, the country's central bank said Wednesday. The economic growth forecast for 2020 was slashed to 1.5 percent from 1.7 percent predicted in March, the Danmarks Nationalbank said in a report. The... Read more...

Australia's leading index returned to negative zone in August after a short lived improvement, data from Westpac showed Wednesday. The six month annualised growth rate in the Westpac- Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to... Read more...

After lowering interest rates for the first time in over a decade in late July, the Federal Reserve announced another interest rate cut following a two-day monetary policy meeting that ended on Wednesday. The Fed revealed its widely expected decision to cut rates by another 25 basis points, lowering the target range for the federal funds rate to 1-3/4 to 2 percent. Read more...

New residential construction in the U.S. showed a substantial rebound in the month of August, according to a report released by the Commerce Department on Wednesday. The report said housing starts soared by 12.3 percent to an annual rate of 1.364 million in August after slumping by 1.5 percent to a revised rate of 1.215 million in July. Read more...

New residential construction in the U.S. showed a substantial rebound in the month of August, according to a report released by the Commerce Department on Wednesday. Read more...