Economy News

In a promising development for China's economy, the country's export sector exhibited robust growth in the first two months of 2024, defying expectations and signaling potential relief for policymakers working to revitalize the world's second-largest economy. Official data revealed that exports ...

The price of oil is notoriously volatile, but 2023 was relatively stable, starting and ending at $72.47 per barrel, after a peak of $89.19. This stability starkly contrasted with 2022's turbulent market, where prices soared to $114 from an opening ...

Germany's aviation giant Lufthansa faces turbulent times as ongoing strikes by its ground staff and airport workers threaten its earnings. The airline, encompassing Lufthansa, Austrian Airlines, and Eurowings, anticipates a substantial operating loss for the first quarter of 2024 due ...

The European Central Bank (ECB) is poised to maintain its interest rate levels in the upcoming week, adopting a cautious stance amidst fluctuating inflation rates and economic indicators within the eurozone. Following an aggressive phase of monetary tightening aimed at controlling ...

The U.S. Personal Consumption Expenditures (PCE) price index, excluding food and energy, rose by 0.4% in February, aligning with predictions and marking a 2.8% year-over-year increase. Overall, the broader PCE index increased by 0.3% month-over-month and 2.4% on an annual ...

Global stock markets have experienced a notable rally, significantly influenced by Nvidia's impressive recent earnings report. The wave of optimism wasn't confined to the technology sector; it spilled over into other areas of the domestic market and reached international shores ...

Chinese tech giant Xiaomi is making a bold move by venturing into the competitive electric vehicle (EV) market. The company aims to capture a niche of affluent consumers with its upcoming premium EV, leveraging its existing 20 million premium smartphone ...

HSBC, the Asia-focused lender, reported a substantial 80% decrease in its pretax profits in the final quarter of 2023, attributing the decline to charges related to its exposure to China's troubled real estate industry and its stake in Bank of ...

The United Kingdom has officially entered a recession, posing a challenge to Prime Minister Rishi Sunak's economic growth agenda. The nation's gross domestic product (GDP) decreased by 0.3% in the last quarter of 2023, after already experiencing a 0.1% decline ...

Japan has relinquished its position as the world's third-largest economy, with Germany stepping into the spot. This development comes as Japan unexpectedly enters a recession, marking a significant change for a country that once held the title of the world's ...

The UK's inflation rate for January held its ground at 4%, defying analysts' forecasts of a climb to 4.2%, according to the Office for National Statistics (ONS). This figure, which is double the 2% target set by the Bank of ...

Germany, the world's fourth-largest economy, has faced a challenging start to the year marked by industrial unrest, including strikes by Lufthansa's ground crew, train drivers, and farmers protesting subsidy cuts. These incidents underscore the broader economic difficulties facing Germany, which saw ...

Turkey's persistent inflation problem persists, with official data for January revealing that the annual inflation rate remained steadfast at 64.86%—a slight increase from December's 64.77%. However, the monthly inflation rate saw a spike, jumping from 2.9% in December to 6.7% in ...

As tensions in the Middle East escalate, the global oil market is experiencing significant fluctuations. On Tuesday, the price of oil witnessed a notable increase, largely influenced by the ongoing conflict and diplomatic efforts to establish peace in the region. West ...

In a strong display of economic resilience, the US added a remarkable 353,000 jobs in January, a figure significantly higher than the consensus estimate of 176,500. This robust job growth defied expectations, marking a solid start to 2024 and underscoring the ...