Get Latest Business News from All Over the World 24/7 throughout the Year

WTO Agrees to Mediate Japan, South Korea Electronics Dispute

from Bloomberg https://ift.tt/3gd2Qh8

Thursday: Q2 GDP, Unemployment Claims

Note that GDP is reported on an annual rate basis. So a 34% decline in GDP doesn't mean that the economy shrunk by one-third. This will mean the economy declined close to 10% in Q2 from Q1.

The largest quarterly decline (since date reported in 1947), reported on an annual rate basis, was -10% in Q1 1958. The worst quarter during the financial crisis, on an annual rate basis, was -8.4%. The decline in Q2 will dwarf those previous declines.

The worst annual decline was in 1932 during the Great Depression (12.9%), but the quarterly data isn't available for that period.

Thursday:
• At 8:30 AM ET, Gross Domestic Product, 2nd quarter 2020 (advance estimate), and annual update. The consensus is that real GDP decreased 34.0% annualized in Q2, down from -5.0% in Q1.

• Also at 8:30 AM, The initial weekly unemployment claims report will be released. The early consensus is for a 1.550 million initial claims, up from 1.416 million the previous week.

from Calculated Risk https://ift.tt/3hUrxzr

US Supreme Court says Justice Ruth Bader Ginsburg is 'resting comfortably' after non-surgical procedure

REGTECH REVISITED: How the regtech landscape is evolving to address FIs' ever growing compliance needs

Growth Regtech Firms BI Intelligence

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.

Regtech solutions seemed to offer the solution to financial institutions' (FIs) compliance woes when they first came to prominence around 24 months ago, gaining support from regulators and investors alike.

See the rest of the story at Business Insider

See Also: