"Japan has slipped into a recession, leading to the loss of its position as the world's third-largest economy-a title now held by Germany. This shift comes as Japan's Gross Domestic Product (GDP) shrank at an annualized pace of 0.4% in the final quarter of 2023, as reported by the Cabinet Office.
The 0.8% decrease in consumer spending, adjusted for seasonal factors but not inflation, surpassed economists' predictions, who had anticipated a more modest decline of 0.3%. This downturn follows a revised gain of 0.4% in December, suggesting a potential shift in consumer behavior at the outset of the year.
"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.
Retail sales in the United States jumped 1.4% in March, the largest monthly gain since January 2023, as consumers rushed to purchase cars and other big-ticket items ahead of President Donald Trump's sweeping tariff increases. The Commerce Department said Wednesday the surge was led by a 5.3% rise in spending on vehicles and auto parts, outpacing broader retail activity.
India's merchandise trade deficit with China soared to a record $99.2 billion in the fiscal year ending March 2025, driven by a surge in electronics, batteries, and industrial inputs, despite government rhetoric aimed at curbing Chinese imports and improving self-reliance.
China's economy expanded 5.4% in the first quarter of 2025, beating analysts' expectations and bolstered by a sharp uptick in exports as manufacturers rushed to ship goods ahead of U.S. tariff increases. However, economists warn that the world's second-largest economy is on the verge of a significant slowdown as the impact of up to 145% tariffs on Chinese goods takes hold.
China's exports surged 12.4% in March compared to a year earlier, as companies rushed to ship goods ahead of escalating U.S. tariffs, according to customs data released Monday. The sharp increase, driven by front-loaded shipments, outpaced analyst forecasts and comes amid deteriorating trade relations between Washington and Beijing under President Donald Trump's latest tariff escalation.
Wholesale prices in the United States fell unexpectedly by 0.4% in March, according to Bureau of Labor Statistics data released Friday, offering a potentially favorable inflation snapshot just as President Donald Trump's sweeping tariff hikes begin to take effect. The decline in the Producer Price Index (PPI), a key gauge of pipeline inflation, came as economists had forecast a 0.2% increase.
JPMorgan Chase CEO Jamie Dimon warned Friday that the U.S. economy is confronting "considerable turbulence," citing heightened geopolitical risks, trade wars, and persistent inflation. The cautionary message came as the bank posted a 9% year-over-year rise in first-quarter profit to $14.64 billion, beating Wall Street expectations.
U.S. inflation eased in March, with consumer prices rising 2.4% from a year earlier, offering a fresh sign of cooling price pressures even as surging egg prices and escalating tariffs cloud the outlook. The data, released Thursday by the Bureau of Labor Statistics, showed the slowest year-over-year increase since early 2021 and came in below economists' expectations.
The European Union on Wednesday approved its first wave of retaliatory tariffs on U.S. imports, marking a significant escalation in the transatlantic trade conflict triggered by President Donald Trump's sweeping import levies. The 27-member bloc said it would begin collecting duties on targeted American products beginning April 15, with additional phases scheduled for May 16 and December 1.
U.S. crude oil prices fell sharply on Wednesday, dropping more than 7% during intraday trading before paring losses, as markets reacted to China's announcement of retaliatory tariffs on U.S. goods in response to President Donald Trump's sweeping 104% levies. The aggressive trade action deepened concerns of a global economic slowdown and sent oil benchmarks tumbling to their lowest levels in four years.
JPMorgan Chase CEO Jamie Dimon issued a dire warning Monday about the potential fallout from President Donald Trump's sweeping tariff policy, cautioning that the levies could drive inflation higher, weaken the U.S. economy, and erode America's global standing.