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| Here are our top stories today: - The Organization for Economic Cooperation and Development (OECD) lowered its global growth forecast for 2023 and 2024.
- U.S. single-family home constructions fell to a three-year low in August.
- Grocery delivery app Instacart debuted on the Nasdaq exchange on Tuesday.
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| 1 | | Only 1,283 million new single-family U.S. home constructions were started in August, the lowest number in more than three years. 
What the numbers say: The number of single-family home starts fell by 4.3% from July to August, and overall housing starts dropped 11.3%. The number of single-family building permits applied for increased 2%, and permits for overall housing starts rose 6.9%. A new survey from the National Association of Home Builders that was published on Monday showed that homebuilder sentiment fell to its lowest level in five months in September. Relevance: High mortgage rates and limited housing supply have hurt the U.S. housing market, which saw prices rise rapidly during the first two years of the COVID-19 pandemic. The Home Builders survey found that interest among prospective homebuyers fell to its lowest level since February, signaling that potential buyers are holding off as the average 30-year fixed mortgage rate still tops 7%. Q: Do you think the U.S. housing market will rebound later this year, or will high interest rates keep potential homebuyers on the sidelines for the foreseeable future? Join the debate here. |     | |
| 2 | | The Organization for Economic Cooperation and Development (OECD) downgraded its global growth forecast and said that inflation will moderate next year. The group lowered its 2024 global growth forecast to 2.7%, from 2.9%, due in part to the economic slowdown in China and the U.S., as well as high interest rates. Slower growth: - The OECD predicts that the Chinese economy will expand 5.1% in 2023 and 4.6% in 2024.
- It projects that the U.S. economy will grow 2.2% in 2023 and 1.3% in 2024. In June, the OECD forecast that the U.S. would expand 1.6% this year and 1% in 2024.
- Economic growth in the Eurozone is expected to accelerate from 0.6% in 2023 to 1.1% in 2024.
Moderate inflation: - The OECD forecasts that inflation will moderate gradually in 2023 and 2024 but will "remain above central bank objectives in most economies."
- Most central banks aim for a 2% annual inflation rate.
- Overall, the OECD expects headline inflation to fall to 2.6% in G20 advanced economies in 2024.
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| 3 | | The U.S. Preventive Services Task Force said that all pregnant women should be screened for hypertensive disorders during prenatal visits. The government-backed medical advisory committee said doctors should do more to reach at-risk pregnant women. More: - In 2017, the Task Force recommended that prenatal care visits include screenings for preeclampsia, a disorder that involves high blood pressure and can cause kidney or liver problems.
- It now says that medical staff should also screen for other high blood pressure disorders that can develop in the second half of pregnancy, such as:
- Gestational hypertension, which can cause high blood pressure without the normal signs shown in patients with preeclampsia.
- Eclampsia, a potentially life-threatening disorder that is known to cause seizures.
Zoom Out: - The rate of hypertensive disorders in pregnant women in the U.S. nearly doubled between 2007 and 2019.
- The maternal mortality rate rose to 32.9 deaths per 100,000 live births in 2021, from 20.1 in 2019.
- Researchers attribute the increase to rising rates of obesity and diabetes among pregnant mothers, as well as the fact that women are giving birth later in life.
- Dr. Esa Davis, a member of the task force and public health expert at the University of Maryland Baltimore, said: "We have a maternal health crisis going on right now."
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| 4 | | GOOD NEWS: More than 40 people lifted a Berlin bus to free a man who was trapped under the rear axle. Police described the crowd's collective work as a heroic rescue effort. More: - An 18-year-old man was pinned under a rear tire after he fell while running to catch the bus.
- The bus driver stopped, and a group of 40 passengers and bystanders collectively lifted the right side of the bus to free the man.
- Doctors and nurses from a nearby medical center rushed to the scene to help the man, who suffered some minor injuries.
- One of the nurses told a local television station that "it's nice that one can still more or less have trust in society."
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| 5 | | Grocery delivery app Instacart debuted on the Nasdaq in a highly-anticipated initial public offering (IPO) on Tuesday. The company's shares, which were offered at $30 per share, rose as much as 40% after trading opened. More: - Instacart, which was founded in 2012, went public at a $10B valuation on a fully diluted basis.
- The tech company was valued as high as $39B in early 2021. when U.S. technology companies were experiencing a historic bull run in public and private markets.
- At the time, Instacart raised money from Fidelity, Sequoia Capital, and Andreessen Horowitz.
- Only 8% of Instacart's shares were floated in the offering.
Zoom Out: - Instacart is the first major venture-backed technology company to go public this year.
- Chip design firm Arm, which SoftBank owns, went public last week at a valuation of $54.5B.
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| 6 | | Canadian Prime Minister Justin Trudeau said that authorities are investigating "credible allegations" linking Indian state agents with the murder of a Sikh separatist leader in Canada earlier this year. India called the accusations "absurd" and retaliated by expelling a Canadian diplomat. More: - 45-year-old Sikh-Canadian Hardeep Singh Nijjar was shot dead outside of a Sikh temple in a Vancouver suburb on June 18.
- In 2020, the Indian government called Nijjar "a terrorist."
- Nijjar supported the creation of a sovereign Sikh nation in the Indian state of Punjab, where the Sikh religion was born.
- The Indian government has previously pressured Canada to take action against the Sikh separatist movement in the country.
Zoom Out: - Roughly 770,000 Sikhs live in Canada, more than any place on Earth except Punjab.
- A Sikh insurgency in Punjab killed tens of thousands of people in the 1980s and 1990s before the Indian government suppressed it.
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INSIDE DAILY BRIEF LEADERBOARD (7 DAYS) |
 | Writer | | Dr. Daniel Smith is an Inside writer with a Ph.D. in Political Science from the University of Cambridge. Follow him on Twitter @DJS12321 or email him at Daniel@inside.com. | | This newsletter was edited by Eduardo Garcia | |
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