Xinhua world economic summary at 0900 GMT, Nov. 19

ULAN BATOR — Mongolia’s gross domestic product (GDP) decreased by 7.3 percent year-on-year in the first three quarters of this year, local media reported on Thursday, citing the country’s National Statistics Office (NSO).

The country’s GDP dropped to 26.4 trillion Mongolian tugriks (over 9.2 billion U.S. dollars) in the January-September period, the NSO said in a statement. (Mongolia-GDP)


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NEW YORK — The U.S. dollar is expected to drift lower in 2021 amid anticipated global economic recovery as well as continuous low interest rate and rising deficit in the United States, experts have said.

It looks like that the U.S. dollar is topping out and maybe is already in the process of transitioning now, Phillip Colmar, managing partner on global strategy with MRB Partners, said on Wednesday. (US-Dollar-Trade)

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RIO DE JANEIRO — Brazil’s Senate approved a bill on Wednesday to provide 4 billion reals (about 755 million U.S. dollars) to aid the struggling public transportation sector, which has seen ridership plummet in the COVID-19 pandemic.

The money will go to cities with more than 200,000 inhabitants to prevent hikes in fares and modernize transit systems with electronic tickets and new technologies. (Brazil-Senate-Transportation Aid)

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BRUSSELS — The inflation rate in the euro area remained in negative territory, as the harmonized index of consumer price (HICP) dropped by 0.3 percent year-on-year in October, the European Union (EU)’s statistical office Eurostat confirmed on Wednesday, in line with its flash estimate released late October.

It was the third month in a row when negative inflation rates were reported in the 19-member bloc, although the condition of too-low inflation did not worsen in October compared with September. (EU-Inflation-Negative Rates)

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