Economy news

Markets Waiting on Bullish China Reopening

Markets Waiting on Bullish China Reopening

5
Economy news
30.01.2023

China intends to increase the retail price of gasoline and diesel this week in response to rising international oil prices. Gasoline and diesel prices will go up by 250 yuan (US$37) per ton and 240 yuan (US$36) per ton, respectively.Some analysts bel...

US Inflation and Consumer Spending Slowed in December

US Inflation and Consumer Spending Slowed in December

2
Economy news
29.01.2023

The Federal Reserve places great store in consumer spending as a barometer of how hot the economy is running. US consumer spending dropped in December, providing evidence that the Fed’s series of interest rate increases are cooling the economy.On Fri...

Smartphone Shipments Fall to Lowest Level in Nine Years

Smartphone Shipments Fall to Lowest Level in Nine Years

5
Economy news
26.01.2023

High inflation and fears over a global recession have led to softening worldwide demand for smartphones, shipments of which have declined to a low not seen since 2013. Global smartphone shipments plunged in the fourth quarter of 2022, usually a...

UK Economy Contracts Sharply

UK Economy Contracts Sharply

7
Economy news
24.01.2023

The UK’s Purchasing Managers Index (PMI) survey for January showed the sharpest drop in business activity since COVID lockdowns two years ago, as the combination of high interest rates and low consumer demand dampened activity.The PMI reading fell to...

US Home Sales Fall to Lowest Level Since 2010

US Home Sales Fall to Lowest Level Since 2010

6
Economy news
23.01.2023

Home sales in the US are on a major decline. December marked the 11th straight monthly fall in sales of existing homes, the longest streak since 1999.Driven by the US Federal Reserve’s fastest interest rate-hiking cycle since the 1980s, the US housin...

ECB Official Expects Half-Point Hikes at Next Two Meetings

ECB Official Expects Half-Point Hikes at Next Two Meetings

18
Economy news
22.01.2023

Dutch central bank chief Klaas Knot, a Governing Council member of the European Central Bank (ECB), has said the central bank will carry on with half-point interest-rate increases at the next two meetings.In a recent interview, Knot said the time to...

Canada’s Inflation Cools, Opening Door to Rate Slowdown

Canada’s Inflation Cools, Opening Door to Rate Slowdown

9
Economy news
19.01.2023

Inflation is slowing in Canada, leading to hopes that an expected increase in interest rates next week may be the last one for some time.The consumer price index rose 6.3% in December from a year ago, down from 6.9% in November. The 0.6% month-to-mon...

BoJ Confounds Market Expectations of Policy Tweaks

BoJ Confounds Market Expectations of Policy Tweaks

7
Economy news
17.01.2023

The Bank of Japan (BoJ) this week kept ultra-low interest rates intact, upsetting market projections that it would respond to rising inflationary pressure by erasing its stimulus program. The central bank also announced it would continue to cap bond...

Argentina Saw Prices Almost Double Last Year

Argentina Saw Prices Almost Double Last Year

9
Economy news
16.01.2023

The price of everyday goods in Argentina has almost doubled in the last year as its annual inflation rate reached its highest level in over three decades.Official data reveals that consumer prices leapt by 94.8% in the 12 months to the end of Decembe...

China Import and Export Activity Drops in Worrying Sign for Economy

China Import and Export Activity Drops in Worrying Sign for Economy

13
Economy news
15.01.2023

China’s exports plunged this past December at the fastest rate since 2020. Imports also cooled, a warning sign that the country’s road to post-pandemic recovery will not be an easy one.Exports in the world’s second-largest economy dwindled 9.9% year-...

World Bank Says Global Economy Very Close to Recession

World Bank Says Global Economy Very Close to Recession

16
Economy news
10.01.2023

The World Bank has warned in an annual report that the global economy will come “perilously close” to a recession this year. On the back of weak economic growth in the world’s top three economies – the US, Europe and China – the World Bank has cut it...

Europe's Inflation Shows Slowdown but Cost of Living Remains High

Europe's Inflation Shows Slowdown but Cost of Living Remains High

10
Economy news
08.01.2023

Cooling inflation has brought some respite in Europe, with price gains easing moderately. However, the cost of living is still high, even if the slowdown hints that weary consumers might be through the worst.The consumer price index in the Eurozone c...

Samsung Expects Lowest Quarterly Profit in Eight Years

Samsung Expects Lowest Quarterly Profit in Eight Years

16
Economy news
05.01.2023

Samsung Electronics is bracing for its worst fourth-quarter performance since 2014 after a marked drop in worldwide demand for memory chips and smartphones.Profits are expected to sink by 69% to $3.4 billion for the October-December period, the South...

Meeting Minutes Show Fed’s Determination to Tackle Inflation

Meeting Minutes Show Fed’s Determination to Tackle Inflation

13
Economy news
04.01.2023

Federal Reserve meeting minutes from last month have revealed the extent of the US central bank’s determination to tame inflation, with officials warning investors to expect interest rates to be kept high for some time. Before the meeting, marke...

Tesla Reports Record Quarterly Production, but Still Below Expectations

Tesla Reports Record Quarterly Production, but Still Below Expectations

15
Economy news
02.01.2023

Tesla Inc. this week reported a record number of electric vehicle deliveries in a quarter. However, it still missed Wall Street estimates because of a combination of logistical challenges, softening demand, climbing interest rates, and jitters over a...