Within the framework of the first half of 2023, exports of goods from Latin America and the Caribbean experienced a 2.7 % decrease compared to the same period of the previous year, according to the report ‘Monitor of Trade and Integration’ of the Inter-American Development Bank (IDB). This contraction is mainly attributed to the fall in prices. (-4.7 %) and moderation in the growth of exported quantities (2.9 %).

The IDB warns that the latest indicators point to a possible continuation of this downward trend in the coming months. Factors such as rising geopolitical conflicts, restrictive monetary policies and the slowdown in global growth following the post-pandemic recovery are contributing to these results.

The most notable ‘shocks’ that have negatively affected the region include Russia’s invasion of Ukraine, persistent inflation, and tightening monetary policy in advanced countries. In addition, the report highlights the urgency of addressing crucial challenges such as food security and climate change, which are likely to impact regional trade performance in the coming years.

Adverse climatic events have also had a significant impact on economic activity, particularly in the agricultural sectors of some countries in the region.

Despite a transitory export boost linked to China’s economic acceleration in early 2023, this effect faded over the year, revealing structural challenges that will have repercussions on the global economy and trade.

The report highlights that, while goods exports from Latin America and the Caribbean have contracted, the contraction is less pronounced than that of global trade as a whole. Sales of services also showed a slight slowdown.

As for the regions, the decrease in intraregional sales (-0.6 %) was smaller than in extraregional sales (-2.2 %) during the first half of 2023. The volume of shipments increased, mainly driven by Brazil (0.7 %) and Mexico (3.9 %), while several countries experienced notable contractions, such as Colombia (-14 %) and Ecuador (-10.1 %).

K. Tovar

Source: Bancaynegocios

(Reference image source: Unsplash+)

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The increase in the number of citizens working, together with the decline in people looking for work in the third quarter of this year, contributed to the fall in the unemployment rate in Brazil.

According to data from the Brazilian Institute of Geography and Statistics (IBGE), the unemployment rate in the South American country stood at 7.7 %, its lowest level since the beginning of 2015.

The agency’s data, published this Tuesday, indicate: “Between July and September, unemployment fell 0.3 percentage points compared to the second quarter (April-June, 8 %) and one point compared to the same period in 2022.”

The coordinator of the IBGE, Adriana Beringuy, stressed: “The fall in the unemployment rate was induced by the expressive growth in the number of people working and by the retraction of people looking for work in the third quarter.”

In detail, it is indicated that the nation led by Luiz Inácio Lula da Silva counted 8.3 million citizens looking for work in the period from July to September, which is 3.8% less than in the previous quarter and 12.1 % less than in 2022.

The occupancy rate “reached 99.8 million, a record since measurements began in 2012, according to the IBGE. In the July-September period, 929,000 people joined the labor market, a quarterly advance of 0.9 %,” details the IBGE.

M.Pino

Source: swissinfo

(Reference image source: Sarah Elizabeth, Unsplash)

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La entrada Unemployment rate in Brazil continued to fall during the third quarter apareció primero en Bitfinance.

Oil and gas multinationals experience a significant decline in their profits during the first half of the year, as a result of the fall in fuel prices, after an exceptional 2022. However, these companies continue to be profitable.

On Tuesday, the British company BP confirmed this scenario by announcing that its net profit for the second quarter reached 1.8 billion dollars, which represents only a fifth of the results obtained during the same period last year.

For its part, the American ExxonMobil had already revealed that its net profits in the same period fell by 56 %, remaining at 7.9 billion dollars. In addition, its compatriot Chevron also experienced a fall, with profits of 6,000 million dollars, about half of what was obtained in the second quarter of 2022.

British giant Shell was not far behind, as its net profit fell 64 % year-on-year to $3.1bn.

However, the French company TotalEnergies managed to buck this trend a little better, posting profits of $4.1bn, albeit down 28 % compared to the previous year.

K. Tovar

Source: Bancaynegocios

(Reference image source: Zbynek Burival, Unsplash)

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La entrada Oil giants suffer drop in profits in 2023 apareció primero en Bitfinance.

The deterioration in factory activity in the eurozone worsened in March, when the purchasing managers’ index (PMI) fell to 47.3 points from 48.5 the previous month, its worst reading in four months, according to S&P Global. Market Intelligence.

Among the countries analyzed, the best manufacturing activity data in March were registered in Greece and Spain, with 52.8 and 51.3 points, respectively, while Germany (44.7) and France (47.3) recorded their worst readings at 34 and 5 months, respectively.

“The eurozone manufacturing sector continues to struggle, with factories reporting a drop in product demand for the 11th consecutive month, due to rising cost of living, tighter monetary policy, a turnaround towards destocking and subdued customer confidence,” said Chris Williamson, chief economist at S&P Global Market Intelligence.

In March, the companies surveyed commented that the improvement in the availability of materials, together with the drop in demand for inputs, led to a drop in supplier prices, which, together with lower energy costs, resulted in the first decline in the average prices paid by the manufacturing sector in almost three years in March.

However, the prices charged continued to rise, albeit at the slowest pace in the last 26 months.

“The lack of demand has resulted in a major shift in pricing power, shifting from seller to buyer,” Chris Williamson said.

Source: dpa

(Reference image source: Europa Press, dpa) 

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Nintendo suffered a widespread drop in its Android mobile games recently, when some of its users reported bugs on Twitter related to games crashing on their home screen.

The games Mario Kart Tour, Dragalia Lost, Pocket Camp, Fire Emblem Heroes, Super Mario Run or Pokemon Masters EX had their service affected last weekend. All of them followed up on the bug situation through their Twitter profiles.

Apparently, these games stopped working simultaneously due to an incident referred to by Nintendo through its profile on this social network, where hours later it confirmed that it had been resolved without determining the reason why it had occurred. said fall.

“We have confirmed an issue where a ‘Support Code: 806-6502’ appears on the main screen after launching the game on Android devices, preventing players from progressing beyond the title screen,” posted the official account of one of the affected games, Mario Kart Tour. A similar message was displayed for the rest of the games.

Subsequently, it shared another message in which the resolution of this problem was confirmed, although without detailing what was the reason for this temporary blocking of Nintendo games on those devices that have Android operating system.

K. Tovar

Source: Notiamerica

La entrada Nintendo suffers drop in its mobile device games apareció primero en Bitfinance.