Economy

Spain’s Inflation Highest in Nearly Four Decades

Spanish consumer prices have shot up at the fastest pace since September 1984, as inflation in the EU continues to break new records. Inflation in Spain reached 10.8% year-on-year for July, a jump from its level of 10.2% in June. As with most coun...

US Economy Contracts, Fueling Recession Fears

According to the Bureau of Economic Analysis, the US economy shrank for a second quarter in a row. GDP fell by 0.9% on an annualized basis from April through June.  By definition, two consecutive quarters of negative economic growth constitut...

The Fed Announces Second Massive Interest Rate Hike

A few months ago, a massive 75-basis-point rate hike by the US Federal Reserve was unthinkable. It has now happened twice in a row. This week, members of the US Fed unanimously agreed on an additional interest rate hike of three-quarters of a percent...

China's Real Estate Market in Serious Trouble

China’s real estate market is in deep trouble, with property sales slumping by 25% this year alone. A confluence of factors, including China’s “Zero COVID Cases” policy, have seen property developers run out of capital to fini...

European Central Bank Finally Hikes Interest Rates

The European Central Bank (ECB) on Thursday announced it would hike its key interest rate by a half percentage point. This is the first time since 2011 that the ECB has raised rates, taking Europe's key rate back to zero. Interest rates in the...

US Inflation Hits 40-Year High

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Economy
14.07.2022

US Inflation powered to a new peak in June, with American consumer prices leaping by 9.1% year-over-year, according to new data. Inflation is at its highest level in four decades, and higher than the previous month’s reading in May, when pri...

Iranians Buy the Most Residential Real Estate in Turkey

The Turkish Statistical Institute recently shared a report showing that Iranians make up the largest group of foreign buyers of residential property in Turkey. In March of this year alone, Iranians purchased 784 homes, beating the number of proper...

US Labor Market Reflects Major Changes

The US labor market is changing in significant ways, as shown by the latest data from the US Bureau of Labor Statistics. There are jobs aplenty, with 11.4 million job openings in April, even if this is a slight decrease from the month before. Acco...

New Zealand Hikes Interest Rate, Signals More to Come

New Zealand's central bank announced a fifth straight interest rate hike this week and hinted at a much more aggressive monetary policy tightening as central bankers try to tame runaway inflation. The Reserve Bank of New Zealand (RBNZ) lifted...

UK Inflation Touches 40-year High

Inflation in the UK leapt to its highest annual rate since 1982, putting severe pressure on Finance Minister Rishi Sunak to do more to help families facing a cost-of-living crisis. Consumer price inflation touched 9% in April, recalling the peaks...