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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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. -
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.
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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. -
ADP Reports Slight Miss in February Private Payroll Growth, Amid Economic Scrutiny
The addition of 140,000 jobs last month marked an improvement from January's upwardly revised count of 111,000 but did not reach the Dow Jones forecast of 150,000. -
China Sets Bold 2024 Goals Amid Global Scrutiny: High Stakes in Tech and Defense, But Where Are the Reforms?
In a pivotal address to the National People's Congress, Premier Li Qiang unveiled China's economic strategy for 2024, spotlighting technology advancements and a significant military budget hike. Despite setting a robust growth target of around 5%, the plan reveals a cautious approach towards the much-anticipated reforms sought by international investors and businesses. -
Immigrant Workforce Surge Boosts U.S. Economy Amid Policy Debates: Report
The U.S. labor market is experiencing a significant shift as the share of immigrants in the workforce continues to rise, reaching a record 18.6% in 2023, according to the U.S. Bureau of Labor Statistics. This influx of foreign-born workers, accounting for about 31.1 million out of 167.1 million workers in the U.S., is not only reshaping the demographic composition of the labor force but also bringing substantial economic benefits, experts say. -
Eurozone Inflation Dips to 2.6% Amid Core Price Stickiness
Inflation in the Eurozone showed signs of easing in February, descending to 2.6%, yet the persistence of core prices above expectations underscores the ongoing challenge facing the European Central Bank (ECB). Despite a general anticipation of a headline reading at 2.5%, both the headline and core inflation figures surpassed economists' forecasts, according to flash data released on Friday.