Economics in the News – Nov. 11-Nov. 17
Economics impacts our lives every day. Below are some of the top storylines from this past week in economic news.
- The economy in the United Kingdom grew 0.3% in the third quarter. It avoided a recession but had its slowest growth in more than a decade, according to The Guardian. The weak performance was largely attributed to the uncertainty surrounding Brexit.
- Wage growth has lingered in the United States even with a low unemployment rate. USA Today goes into detail on how the trade conflict, the crowded marketplace for workers and a slowing economic outlook have impacted compensation for workers.
- The charitable deduction was instituted in 1917 but with giving in the United States down, NPR’s Planet Money explains why it may be time for it to be reformed.
- The stock market soared to an all-time with all three major indexes on the New York Stock Exchange reaching a record level last week, as summarized by The New York Post. The Dow Jones industrial average crossed the 28,000 mark for the first time in its history, closing at 28,004.89, while the Nasdaq closed at a record 8,540.83 and the S&P 500 closed at 3,120.46. The surge was a result as new optimism that the U.S. and China were nearing a new trade deal.
- Disney’s unveiled its new streaming platform to get with the successful launch of Disney Plus, as summarized by U.S. News and World Report. Disney’s stock price rose to a record high helped by news that more than 10 million households subscribed to Disney Plus on the first day of its launch.