The Economy of France bounced back in the third quarter as it profited from a summer period with few social restrictions. However, the focus is now on the final quarter of the year after the two largest economies in the euro area announced nationwide lockdowns.
Over a 2 week span in early July, seven retailers, including The Paper Store, Brooks Brothers and Lucky Brand, filed for bankruptcy protection. J.Crew, Neiman Marcus and J.C. Penney and four other retailers had already filed in May. Lord & Taylor and the off-price shop Stein Mart led another wave that hit earlier this month. Some would say it has been a flood, but what’s coming could be a tsunami.
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The U.S. economic growth accelerated in the first quarter of 2019, in contrast to expectations. On an annualized basis, the economy grew 3.2 percent, an acceleration from 2.2 percent in the fourth quarter of 2018. Nevertheless, the acceleration was built on shaky foundations, as half of the quarter’s growth was because of a build-up inventories and a fall in imports, which meant net trade contributed one percentage point to growth.
Retail inflation and wholesale inflation of India fell to multi-month lows in December amid signs of weakening economic recovery, creating wiggle room for the Reserve Bank of India’s (RBI) monetary policy committee to cut interest rates at its meeting on 7 February.
Indian economy’s roller-coaster ride during the year gone by was best captured by the GDP growth. In the first quarter of 2018-19 ending June 30, it grew at an impressive 8.2 per cent, after 7.7 per cent in the first three months of the year.
Finance Minister of India Arun Jaitley on Saturday said that six items have been removed from the 28 per cent tax bracket under the Goods and Services Tax (GST) regime.
Economy of Canada expanded at a faster-than-expected pace in October, but evidence of economic momentum heading into the end of the year may not be enough to shift the Bank of Canada from the sidelines due to the recent slump in oil prices.
Niti Aayog said India should lower both personal and corporate tax rates as the planning think tank of nation suggested ways for the government to sustain an average GDP growth of 8%, raising the economy’s size to $4 trillion in real terms.
Indian Prime Minister Narendra Modi said, India will tax most goods at below 18 percent in a further simplification of the Goods and Services Tax, aiming to shore up support among businesses that have struggled with the new system.