UN forecasts India's economy to grow by 7.5 percent this calendar year and rebound to 10.5 percent next year with the caveat that the outlook is "highly fragile" because of the brutal COVID-19 second wave. The mid-year World Economic Situation and Prospects report said that for a global recover... Read more...
Fitch Ratings on 10th May said the shock to economic activity from the latest wave of COVID-19 pandemic will be less severe than the one in 2020, but recovery is likely to be delayed as economic activity dropped in April-May. The global rating agency said there are growing indications that the la... Read more...
In many big European cities, prices have been rising for decades, pushed higher by a cocktail of low interest rates, land shortages and construction that cannot keep pace with demand. Despite the deep effects of the pandemic on Europe's economies, prompting comparisons with the 2008 financial crisis... Read more...
British construction activity expanded quickly last month, almost matching the six-and-a-half-year record struck in March as a lifting of coronavirus lockdown measures boosted new orders, a survey showed on 7th May. The IHS Markit/CIPS Construction Purchasing Managers' Index (PMI) eased to 61.6 i... Read more...
Activity in Canada’s residential real estate market will moderate from the “unsustainable” levels seen so far this year, though sales will remain at an elevated pace and prices will continue to climb for years to come, according to the latest forecast from the national housing agency. The n... Read more...
Rajani Sinha, Chief Economist & National Director – Research, Knight Frank India, “The battle with COVID-19 has prolonged over a year now and while the country was coping well until early this year, the second wave of infections in March has translated into significant loss of lives. Presuma... Read more...
Economic activity in many states has been hit hard due to the second wave of Covid-19 in India and some important sectors have started facing losses due to the prevailing situation. Real estate is one such sector that has been affected. According to reports, homebuyers have become cautious in vie... Read more...
Hong Kong’s economy finally turned the corner, posting its fastest growth since 2010 as the city makes a stronger recovery from the pandemic and social unrest before that. After declining for a record six quarters, gross domestic product surged 7.8% in the first quarter from a year earlier, adv... Read more...
The United Arab Emirates' economy shrank 6.1% last year, the country's statistics centre said on May 2nd citing preliminary data, as the coronavirus crisis hit several key sectors. "The country's economy is linked through foreign trade, foreign investment, tourism and the logistical sector with t... Read more...
Hungarian Prime Minister Viktor Orban is betting on housing stimulus to revive the economy after the COVID-19 slump, but an inexorable rise in prices is squeezing many first-time buyers out of one of Europe's hottest property markets. Measures in favour of the housing sector include lowering VAT ... Read more...