Japan's August exports fell by a smaller-than-expected 0.1% year-on-year, marking the fourth consecutive month of decline. However, shipments to Asia rebounded by 1.7%, while exports to Western Europe surged 7.7%. This positive trend was partially offset by a significant 13.8% drop in exports to the U.S., particularly in...
UK inflation remained at 3.8% in August, meeting economists' expectations. Core inflation, excluding volatile items, dropped to 3.6%. Falling airfare costs offset increases in fuel and hotel prices. Food inflation continued its upward trend for the fifth month. Finance Minister Rachel Reeves acknowledged the economic hardship faced...
Asia-Pacific markets showed mixed results Wednesday, following Wall Street's decline ahead of the Federal Reserve's interest rate decision. Japan's Nikkei 225 was flat, while the Topix fell 0.4%. Australia's ASX/S&P 200 dropped 0.63%, and South Korea's Kospi lost 0.75%. However, Hong Kong's Hang Seng Index rose 1.35%,...
The Federal Reserve is set to announce its interest rate decision this week, with a widely anticipated quarter-point cut expected. However, political intrigue surrounds the decision, with new Fed governor Stephen Miran, a Trump appointee, likely to dissent and advocate for a larger cut. Other governors may also...
Despite economic anxieties, slowing hiring, and tariffs, US retail sales unexpectedly surged 0.6% in August, exceeding economists' predictions of a 0.2% increase. This follows July's revised 0.6% growth. Online and clothing sales led the gains, while some sectors like specialty stores saw declines. Analysts remain optimistic about consumer...
The Federal Reserve is expected to announce its first interest rate cut of 2025 on September 17th, with a 96% probability of a 0.25 percentage point reduction. This decision comes amidst conflicting economic signals: slowing job growth argues for a cut, but rising inflation, partly fueled by Trump administration...
Extreme weather in Europe this summer, including droughts, heat waves, and floods, has already cost the EU an estimated €43 billion, reducing economic output by nearly 0.5%. A new study predicts cumulative damage of €126 billion by 2029. Droughts caused the most significant damage (€29.4 billion), followed by...
The Federal Reserve's upcoming meeting is shrouded in uncertainty. The usual focus on interest rates is overshadowed by questions regarding the attendance of Governor Lisa Cook, whose removal is being contested, and the confirmation of Stephen Miran. The US economy faces slowing hiring and persistent inflation, forcing the...
China's economic slowdown worsened in August, with key indicators falling short of expectations. Retail sales grew by 3.4%, below the predicted 3.9%, while industrial output growth slowed to 5.2%, its weakest since August 2024. Fixed-asset investment expanded by only 0.5%, and real estate investment contracted by 12.9%. The unemployment...
The US Supreme Court is reviewing President Trump's tariffs, which lower courts deemed illegal. The Treasury estimates that overturning the tariffs could cost the government $750 billion to $1 trillion in already collected revenue. Legal experts argue that the economic consequences shouldn't influence the Court's constitutional decision, focusing instead...
