The US Department of State released on Thursday the 2022 Investment Climate Statements, which help US companies make informed business decisions by providing up-to-date information on the investment climates of more than 160 countries and economies that are current or potential markets for American companies.
The Investment Climate Statements also serve as references for partner governments seeking to mobilize high-quality, sustainable investments to facilitate their economies’ recovery from the pandemic, according to a statement by the Department.
It said the Department’s overseas missions are working to address the barriers to US investment highlighted by the Investment Climate Statements. The reports cover topics including (but not limited to): Openness to Investment, Legal and Regulatory Systems, Protection of Real and Intellectual Property Rights, Financial Sector, State-Owned Enterprises, Responsible Business Conduct, Corruption, and Labor Policies and Practices.
The statements also assess how governments uphold international labor standards, combat corruption, implement policies to attract environmentally sustainable foreign direct investment, and encourage companies to practice responsible business conduct.
US stocks retreat after downcast GDP data
The release of Climate Statements came on the day Wall Street stocks retreated following mixed earnings as a gloomy reading on US gross domestic product added to recession fears.
GDP declined at an annual rate of 0.9 percent in the second quarter, following a bigger drop in the first three months of the year, according to the Commerce Department.
Two quarters of negative growth is commonly viewed as a strong signal that a recession is underway, although Federal Reserve Chair Jerome Powell said Wednesday that the strong US labor market is not indicative of a recession.
Regardless of whether the United States is in recession, the GDP data “makes it clear that the economic environment has undoubtedly weakened, which shouldn’t be a total surprise in light of more recent incoming data of late,” said Briefing.com analyst Patrick O’Hare.
About 20 minutes into trading, the Dow Jones Industrial Average was down 0.3 percent at 32,093.65.
The broad-based S&P 500 fell 0.4 percent to 4,006.48, while the tech-rich Nasdaq Composite Index dropped 0.7 percent to 11,949.14.
Among individual stocks, Facebook parent Meta Platform tumbled 8.5 percent as it posted its first quarterly revenue drop as the social media powerhouse battles a turbulent economy and the rising phenomenon of TikTok.
But Ford rose 3.6 percent as the US auto giant reported increased second-quarter profits on a surge in auto sales that more than offset the hit from higher costs.