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Transatlantic News
Transatlantic News
09
Jan
Prepared by Pablo Anaya Longaric, Alessandro De Sanctis, Charlotte Grynberg, Vasileios Kostakis and Francesca Vinci
Published as part of the ECB Economic Bulletin, Issue 8/2024.
1 Introduction
The surge in energy prices following the unjustified Russian invasion of Ukraine exposed the EU to the largest energy shock since the 1970s. As a key input in virtually any production process, the sharp rise in energy prices not only contributed to a surge in inflation and a loss of purchasing power for households but also to...
08
Jan
By Julie Cooper and Tim Youngberry | New Public Financial Management (NPFM) emerged in the 1980s as a transformative approach to public sector governance, aimed at enhancing efficiency, accountability, and responsiveness. Rooted in principles drawn from private sector management, NPFM promotes results-oriented practices such as performance-based budgeting, measurable outcomes, and decentralized management. Its objectives align closely with those of traditional PFM: ensuring fiscal discipline, strategically allocating resources, and delivering services efficiently and effectively.
However, while NPFM's objectives are commendable and...
08
Jan
Prepared by Alina Bobasu, Johannes Gareis and Grigor Stoevsky | Following a pandemic-related surge in 2020, the household saving rate in the euro area fell back to its pre-pandemic average by mid-2022 but has since risen again noticeably. The seasonally adjusted euro area household saving rate, as reported by Eurostat in the quarterly sector accounts, rose sharply after the outbreak of the COVID-19 pandemic. This was mainly due to the lockdowns imposed to contain the spread of the virus, which dampened...
06
Jan
Last week, the Commerce Department’s Bureau of Economic Analysis announced that GDP and personal income increased in almost every U.S. state according to the latest data from their report on Gross Domestic Product by State and Personal Income by State, 3rd Quarter, 2024.
Real gross domestic product increased in 46 states and the District of Columbia. The nation's GDP grew at an annual rate of 3.1 percent in the third quarter and has grown by 12.6% under the Biden-Harris Administration.
In addition, Americans continue to make and...
20
Dec
Paris, France – This week, Export-Import Bank of the United States (EXIM) Chair Reta Jo Lewis delivered remarks during the International Economic Forum of the Americas’ (IEFA) Conference of Paris and met with industry leaders in the pharmaceutical, finance, and renewable energy sectors. Over the course of the week, Chair Lewis highlighted EXIM’s efforts to promote U.S. technologies that can reduce emissions and support U.S. jobs.
In remarks during a panel titled, “Scaling Lower Carbon Economies at Speed,” Chair Lewis said...
19
Dec
On 27 November 2024, in a speech to the European Parliament, President of the European Commission Ursula von der Leyen announced her decision to convene a Strategic Dialogue on the Future of the Automotive Industry in Europe. The Dialogue will be officially launched already in January 2025, with a view to swiftly proposing and implementing measures the sector urgently needs.
Commission President, Ursula von der Leyen, said: “The automotive industry is a European pride and is crucial for Europe's prosperity. It drives innovation, supports millions of...
19
Dec
Bipartisan legislation will modernize the EDA and other regional commissions whose mission is to spur economic growth in communities across the country
The U.S. Department of Commerce’s Economic Development Administration (EDA) celebrates its historic reauthorization by Congress, allowing it to continue its legacy of promoting American innovation and competitiveness by providing grants and support to communities across the country. Since 1965, EDA has led some of the nation’s most impactful programs to strengthen public works and infrastructure, job creation and workforce development,...
19
Dec
Cash most frequently used payment method in stores, although use has continued to decline
Share of digital payment instruments continues to increase in value terms, with cards still dominant and share of mobile apps on the rise
Majority of consumers value having option to pay with cash
The European Central Bank (ECB) today published the results of the latest study on the payment attitudes of consumers in the euro area (SPACE). Despite the trend towards digital payments, the number...
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