JAMAICA has dropped four places to rank 95 out of 132 countries recording its third year of decline in the annual competitiveness index by the World Economic Forum (WEF).
THE Bank of England kept its key lending rate at a record low level of 0.50 per cent for the eighteenth month running yesterday, as data showed Britain’s recovery from recession is stalling.
The global economic recovery could be slower than expected but another recession remains unlikely — especially if governments don’t overdo their spending cuts, a leading international economic body said yesterday.
Last week I indicated that consumer demand is essential for growth in any economy; and this is whatever market system is in place. In 2008 I had indicated that stagflation was the greatest risk that the economy faced, and still faces.