An updated analysis by the National Council on Aging (NCOA) and LeadingAge LTSS Center @ UMass Boston finds that 80% of Americans 60 and older continue to have very few resources to pay for long-term care or weather financial emergencies. While older adults’ incomes and the net value of their homes increased slightly from 2018-2020, the value of their financial assets and
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The ifo Institute has lowered its forecast for economic growth in Germany for this year. It now expects zero growth instead of the previous 0.4%. The Institute also lowered its estimate for the coming year to 0.9% instead of 1.5%. The economy is now not expected to grow by 1.5% until 2026. “The German economy is stuck and languishing in the doldrums,
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The Reserve Bank of Australia (RBA) maintained its Official Cash Rate (OCR) at 4.35% during its June meeting, aligning with market forecasts. This marks the fifth consecutive meeting that the RBA has kept the rate steady, following a 25 basis points hike in November 2023. The board also kept the interest rate on Exchange Settlement balances unchanged at 4.25%. It comes after
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Retail sales in China, a gauge of consumption, increased by 3.7% in May on an annual basis, according to the latest report by the National Bureau of Statistics (NBS) published on Monday (June 17). This marked the 16th consecutive month of growth in retail trade, and the sharpest since February 2024 and beat the forecasts of several financial institutions and analysts. The
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The annual consumer inflation rate in India eased to 4.67% last month from 4.83% in April, to mark the slowest increase in consumer prices in one year, data published by the National Statistical Office showed. Economists had expected annual inflation to be at 4.8%, according to a consensus compiled by FactSet. It was the ninth consecutive month that Indian inflation remained within
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The tech industry saw a dramatic surge in layoffs in 2023, with a staggering 262,242 employees being let go by 1184 tech companies. This represents an increase of 50% compared to to the dismissals seen in the same industry in 2022, according to the data published by Layoffs.fyi, the online tracker keeping tabs on job losses in the sector. Amazon led the significant
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Mortgage applications in the US increased by 9.9% on the first week of the year, the most in one year, and rebounding sharply from the 10.7% slump from the previous period, the Mortgage Bankers Association (MBA) revealed in its report published on Wednesday (Jan. 10). The figure included an additional adjustment due to New Year’s holiday. The results are also aligned with
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