NEW YORK -- The U.S. economy could see slower and even negative growth once again in the first quarter of 2021 due to soaring COVID-19 infections, newly imposed restrictions on mobility as well as smaller and slow stimulus measures, according to multiple investment research institutions.
The U.S. economy would shrink 1 percent in Q1 next year due to worsening pandemic across the country following an expected growth of 2.8 percent in the fourth quarter this year, said JP Morgan in a client note on Friday. (US-Economy-Pandemic)
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LIMA -- Peruvian Interim President Francisco Sagasti said Friday that Peru supports a multilateral global trading system involving free trade during his speech at the 27th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation.
While addressing the leaders of the 21 economies of the forum, the president stressed the need to promote free trade under the rules of the World Trade Organization and move towards the establishment of a high-quality Asia-Pacific Free Trade Area. (Peru-APEC)
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LONDON -- The British Treasury announced Friday that it will launch a national infrastructure bank to co-invest alongside the private sector in key infrastructure projects, like transport, renewable energy and digital connectivity.
Chancellor of the Exchequer Rishi Sunak is set to unveil plans next week for the new bank, which is expected to invest more than 600 billion pounds (800 billion U.S. dollars) over the next five years, as the government has promised. (Britain-Infrastructure-Investment)
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OTTAWA -- Canada's retail sales rose 1.1 percent to 53.9 billion Canadian dollars (about 41 billion U.S. dollars) in September, according to Statistics Canada on Friday.
September is the fifth consecutive monthly increase since the record decline in April due to the impact of the COVID-19. (Canada-Retail Sales)