Economic News

The Asian Development Bank raised its economic growth projections for the next year but signaled divergence in the recovery paths among regional economies. In its latest Asian Development Outlook 2021 Update, released Wednesday, the ADB said developing Asia will expand 5.4 percent next year, instead of 5.3 percent estimated previously. Meanwhile, the outlook for 2021 was downgraded to 7.1 perce Read more...

Hungary's central bank raised its interest rates in September, for a fourth policy session in a row, and signaled it will continue to do so in coming months, citing rising inflation and upside risks to the outlook. The Monetary Council decided to raise the central bank base rate by 15 basis points... Read more...

Indonesia's central bank left its key rates unchanged on Tuesday, as widely expected, in order to maintain the exchange rate stability and underpin economic growth. The board of governors of Bank Indonesia decided to hold the the BI 7-Day reverse repo rate at 3.50 percent. The previous change in the... Read more...

The Organisation for Economic Cooperation and Development raised the growth projection for next year, while lowering the same for this year, and expressed concern over the increasingly uneven nature of the economic recovery from the slump caused by the pandemic as well as rising inflationary pressures. Read more...

New residential construction in the U.S. increased by more than expected in the month of August, according to a report released by the Commerce Department on Tuesday. Read more...

Consumer sentiment in the U.S. has seen a modest improvement in September after falling sharply in August, according to a preliminary report released by the University of Michigan on Friday. The report said the consumer sentiment index inched up by 71.0 in September from 70.3 in August. Economists had expected the index to rise to 72.2. Read more...