Economy
Sharp Decline in January US Retail Sales Signals Economic Caution
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UK Economy Enters Recession, Challenging Sunak's Growth Pledge
"The United Kingdom's economy has officially entered a recession, marking a significant downturn and the weakest annual growth since the aftermath of the 2008 financial crisis, excluding the pandemic-impacted year of 2020. -
January Sees Unexpected Rise in Consumer Prices, Challenging Fed's Inflation Outlook
"consumer prices in January witnessed a rise that exceeded expectations, primarily driven by persistent increases in shelter costs.
The Latest
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Xiaomi Unveils Its First EV, SU7
On the evening of March 28, Xiaomi Corporation (01810.HK) officially launched its first electric sedan, the SU7, with the standard version priced at 215,900 yuan (about $30,408), the PRO long-range version at 245,900 yuan (about $34,019), and the MAX version at 299,900 yuan (about $41,490). Customers placing significant orders before April 30 can enjoy various complimentary configurations or intelligent driving system benefits. -
U.S. Economy Sees Upward Revision in Q4 Growth, Surpassing Expectations
The Commerce Department's Bureau of Economic Analysis adjusted its growth rate for the last quarter to an annualized 3.4%, up from the 3.2% previously reported, indicating a resilient economy that continues to outshine its global counterparts. -
US Housing Market Defies Odds with Surprising Surge in Home Sales
The US housing market witnessed an unexpected surge in home sales last month, defying the escalating mortgage rates that have been a cause for concern among potential homebuyers. -
US Homebuilding Surges in February Amid Housing Shortage and High Mortgage Rates
US homebuilding experienced a significant surge in February, with builders anticipating strong demand for new homes to persist. According to data released by the Census Bureau and the Department of Housing and Urban Development, housing starts soared by 10.7% last month, reaching a seasonally adjusted annual rate of 1.521 million units, surpassing analysts' estimates of 1.425 million. -
China's Economy Shows Resilience with Strong Retail Sales and Industrial Output in Early 2024
China's economy kicked off 2024 on a strong note, with retail sales and industrial output surpassing expectations in the January-February period. However, the ongoing weakness in the property sector continues to temper the overall economic outlook, despite the positive data.
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U.S. Wholesale Inflation Surges in February, Signaling Persistent Price Pressures
The U.S. Bureau of Labor Statistics reported a significant uptick in wholesale inflation for the month of February. The producer price index (PPI), a key indicator of inflation at the wholesale level, registered a 0.6% increase, surpassing the Dow Jones estimate of 0.3%. This acceleration, more pronounced than in January's 0.3% rise, underscores the persistent inflationary pressures within the U.S. economy. -
Inflation Surges Unexpectedly in February, Pressuring Fed's Rate Decision
Inflation pressures intensified in February, driven by significant increases in shelter and gasoline prices, challenging the Federal Reserve's efforts to stabilize the economy. -
U.S. Economy Adds 275,000 Jobs, Unemployment Ticks Up to 3.9%
The US economy outperformed expectations in February by adding 275,000 nonfarm payroll jobs, surpassing the 198,000 jobs economists had projected. This surge in job creation, however, was accompanied by an uptick in the unemployment rate to 3.9% from January's 3.7%, marking the first rise in four months and signaling a potential softening in the labor market. -
Powell Reinforces Fed's Stance on Delaying Rate Cuts Until Inflation Moves Sustainably Toward 2%
Powell struck a balanced tone, acknowledging the economy's resilience while underscoring the need for further data to confirm a sustainable path toward the Fed's 2% inflation target. -
China's Leaders Map Policy Course Toward Challenging Ambitious 5% Growth Goal
China set an economic growth target of around 5% for this year and mapped out a policy course aimed at fortifying its military capabilities, developing advanced technology, and buoying consumer spending in a bid to hit that ambitious goal.