{"id":558742,"date":"2021-08-24T03:58:28","date_gmt":"2021-08-24T03:58:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/24\/us-growth-slows-as-delta-variant-spreads-eurozone-looks-forward-to-a-strong-3q\/"},"modified":"2021-08-24T03:58:28","modified_gmt":"2021-08-24T03:58:28","slug":"us-growth-slows-as-delta-variant-spreads-eurozone-looks-forward-to-a-strong-3q","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/24\/us-growth-slows-as-delta-variant-spreads-eurozone-looks-forward-to-a-strong-3q\/","title":{"rendered":"US growth slows as delta variant spreads, Eurozone looks forward to a strong 3Q"},"content":{"rendered":"

<\/a> US economic data published in recent weeks has fallen short of <\/strong>expectations<\/strong> with reports missing the mark by the largest margin since the heyday of the pandemic last year, raising concerns over muted global economic growth off the back of the Delta variant, the Financial Times<\/a> reports. Gauges of US consumer confidence, retail sales, and business activity have all come in lower than anticipated, with economists dialling back US growth forecasts to 6.2% from 6.6% for this year.<\/p>\n

Meanwhile, across the pond: Eurozone business activity grew at its fastest pace in 15 <\/strong>years<\/strong> in August, with the IHS Markit flash composite PMI reaching 59.5, buoying expectations for strong 3Q2021 growth, the Financial Times reports. While higher vaccination rates boosted optimism, increased hiring activity and higher input costs indicate that the ripples of supply chain disruptions are still being felt throughout European markets.<\/p>\n

Oil prices snap 7-day losing streak<\/strong>: Oil prices rebounded from a seven-day losing streak, supported by a softer USD despite lingering fears that rising covid-19 might affect fuel demand, Reuters<\/a> reports. Brent crude jumped 3% to USD 67.26 a barrel (and was at USD 68.89 at dispatch time), while US West Texas Intermediate (WTI) crude for October delivery similarly rose 3% to USD 64.04. Last week, both benchmarks saw their biggest week of losses in more than nine months, with Brent plunging about 8% and WTI about 9%.<\/p>\n

BTC hit a three-month high, peaking at USD 50,428<\/strong> before sliding back to 49.9k as of midnight CLT, as cryptocurrency prices slowly rose on their path to recovery. This increase indicates that the world\u2019s largest cryptocurrency had overcome its crypto rout earlier this summer, which left it hitting just under USD 30,000. Analysts see BTC testing all-time highs soon, according to Bloomberg<\/a>.<\/p>\n

Other global business news you should know about this morning:<\/strong><\/p>\n