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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Japan's Economy Contracts Sharply, Complicating Central Bank's Rate Hike Plans
Japan's economy contracted significantly in the first quarter, posing a fresh challenge to policymakers as the Bank of Japan (BOJ) navigates its path away from near-zero interest rates. Preliminary gross domestic product (GDP) data from the Cabinet Office released on Thursday indicated a 2.0% annualized contraction from the previous quarter, outpacing the 1.5% decline forecasted by economists in a Reuters poll. -
U.S. Inflation Eases in April, But Core Prices Remain Stubbornly High
U.S. consumer price increases cooled slightly in April, offering a glimmer of relief amid persistent inflationary pressures. The Consumer Price Index (CPI) rose 0.3% over the previous month and 3.4% year-over-year, according to the Bureau of Labor Statistics. This marks a deceleration from March's 0.4% monthly increase and 3.5% annual gain. -
Eurozone Sees Positive GDP Growth in Q1 Amidst Economic Recovery Hopes
On Wednesday, data released by Eurostat showed that after a slight recession in the latter half of 2023, the Eurozone's GDP grew both quarter-on-quarter and year-on-year in the first quarter, with Germany, typically a lagging economy, also exceeding expectations. -
Powell Signals Extended Period of High Interest Rates Amid Persistent Inflation
Federal Reserve Chair Jerome Powell reiterated on Tuesday that inflation remains more persistent than anticipated, indicating that the central bank will maintain its current interest rate levels for an extended period. Speaking at the annual general meeting of the Foreign Bankers' Association in Amsterdam, Powell acknowledged that the rapid disinflation observed in 2023 has significantly slowed, necessitating a reconsideration of monetary policy. -
U.S. Wholesale Prices Surge in April, Complicating Federal Reserve's Rate Cut Plans
Wholesale prices in the United States rose more than expected in April, signaling persistent inflationary pressures and complicating the Federal Reserve's plans for potential interest rate cuts. The producer price index (PPI), which measures the prices producers receive for their goods, increased by 0.5% for the month, surpassing the 0.3% estimate from Dow Jones, according to data released by the Labor Department's Bureau of Labor Statistics on Tuesday.
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China's Consumer Prices Rise for Third Consecutive Month, Signaling Domestic Demand Recovery
China's consumer prices have risen for the third consecutive month in April, while producer prices continue to decline, indicating an improvement in domestic demand as Beijing navigates the challenges of bolstering a faltering economy. -
US Weekly Jobless Claims Reach Highest Level Since August 2023, Signaling Potential Labor Market Slowdown
According to the Labor Department's report released on Thursday, jobless claims totaled a seasonally adjusted 231,000 for the week ending on May 4, up 22,000 from the previous period and surpassing the Dow Jones estimate of 214,000. This marks the highest claims number since Aug. 26, 2023. -
U.S. Job Market Shows Signs of Cooling with Slower Hiring and Wage Growth in April
The U.S. labor market exhibited a notable cooldown in April, with both hiring and wage growth decelerating unexpectedly. According to the latest data from the Bureau of Labor Statistics, the economy added only 175,000 new jobs last month, significantly below the anticipated 240,000. Furthermore, the unemployment rate rose to 3.9%, a jump from the previously stable rate of 3.8%. -
Fed Holds Rates Steady, Signals Lack of Progress on Inflation Target
The Federal Reserve decided to hold interest rates steady on Wednesday, maintaining the target range between 5.25% and 5.5% for the sixth consecutive time since July 2022. The unanimous decision by the Federal Open Market Committee (FOMC) comes amid concerns over the lack of further progress in bringing inflation down to the central bank's 2% target. -
China's Manufacturing and Services Sectors Show Slowing Growth in April Despite High-Tech Boost
China's manufacturing and services sectors experienced a slowdown in growth in April, according to official surveys released on Tuesday, suggesting a loss of momentum for the world's second-largest economy at the start of the second quarter.