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World Bank published latest commodity prices: November 2014

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In October 2014, energy prices declined sharply  by 8.9%, and the prices of non-energy commodities decreased as well by 1.0%. Food prices were down by 0.4%. Beverages increased by 2.1%. Raw materials went down by 1.2% and fertilizers were slightly down by 0.6%. Metals and minerals decreased by 2.9%, and precious metals by 2.3%.
To access recent and long-term historical prices and other commodity-related information, please click here.

Prospects Daily: Japan’s vehicle sales continue to decline in October, Brazil’s industrial production unexpectedly falls

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High Income Economies

Japan’s domestic auto sales continued to fall for the third consecutive month in October, down 9.1% (y/y) from -2.8% in September, data from the Japan Automobile Dealers Association showed. Auto sales, as measured by registrations of vehicles with the government, are monitored by economists since they are the first consumer spending numbers released each month.

​Prospects Daily: Gold price falls to near four-year low, Eurozone’s manufacturing PMI revised down, Turkey’s inflation exceeds forecasts

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Financial Markets

Gold prices traded around a 4-year low as strengthening of the dollar dampened bullion’s appeal as a hedge against risk. Gold for December settlement fell 0.1% to $1,170.66 an ounce on the New York Commodity Exchange after tumbling as much as 0.9% to $1,161 earlier today. Other precious metal also fell, with silver futures dropping as much as 2.3% to $15.74 an ounce before rebounding. Silver prices dropped last Friday to the lowest level since February 2010.

Prospects Daily: Treasury yield curve becomes flattest since November 2012, U.S. Q3 GDP growth beats expectations, Brazil unexpectedly increases interest rates

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Financial Markets

The difference between short-and long-term U.S. Treasury yields, known as the yield curve, fell to the lowest level since 2012 on speculation the Federal Reserve will hike interest rates sooner than expected while inflation remains muted. The 2-year Treasury yield rose 1 basis point to 0.49%, while the 30-year Treasury yield slid 3 basis points (bps) to 3.02%. Accordingly, the gap between them shrank to 2.53% (or 253 bps), the least level since November 2012.

Prospects Daily: Money outflows from euro area bonds at record pace, U.S. consumer confidence at seven-year high, Industrial profits increase in China

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Financial Markets

Domestic and foreign investors pulled out €187.7 billion ($239 billion) from euro area fixed-income assets in the six months through August, the most in European Central Bank data going back to the currency’s introduction in 1999. Record pace of bond outflows helped to push the euro down 2.6% versus a basket of 9 mature-market counterparts this year, the steepest depreciation since 2010, when the region’s sovereign debt crisis was taking hold.

Prospects Daily: ​Chinese stocks post steepest weekly drop in 4 months, Eurozone’s PMI marginally improves in October, Turkey central bank leaves rates unchanged

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Financial Markets

China’s benchmark stock gauge posted its biggest weekly slid in four month amid concerns over the negative impacts of IPO sales on existing shares and slowing corporate earnings. Growing worries over a planned trading link between Shanghai and Hong Kong stock markets will be delayed also weighed on Chinese shares. The Shanghai Composite Index fell 1.7% this week, the most since the week ending June 20. Nine IPO transactions are marketed for this week which may attract more than 700 billion yuan of investor bids.