Economy

China’s economy to grow 5 percent in 2024, contributing 30 percent to global expansion

Foreign exchange reserves remain steadily above $3.2 trillion 

China’s foreign trade up 4.9 percent to $5.49 trillion in 11 months

Exports surged by 6.7 percent year-on-year, totaling 23.04 trillion yuan 

Japan’s economic growth surpasses estimates: 1.2 percent GDP revision and implications for interest rate hikes

Japan's economy grew faster than expected in July-September, driven by higher capital investment and exports 

China’s consumer inflation slows to five-month low in November

The producer price index fell 2.5 percent year-on-year in November, a slower decline than the 2.9 percent in October

Euro area unemployment rate steady at 6.3 percent in October 2024

In October 2024, there were around 12.971 million people unemployed in the EU

U.S. economic growth unrevised at 2.8 percent in Q3 2024

The current‑dollar GDP of the U.S. increased 4.7 percent at an annual rate to $29.35 trillion

U.S. hosts record 1.12 million international students, adding $50 billion to economy in 2023/2024

Despite competition from the U.K., Canada, and Australia, the U.S. remains the top choice for international students

U.S. weekly jobless claims rise marginally as job growth stalls in October

Unadjusted U.S. weekly jobless claims rose 5.4 percent to 212,274 in the week ending November 2

China’s services activity grows in October, signaling economic recovery: PMI

While modest, the rate of growth in China's services economy was the fastest in three months

Japan’s manufacturing conditions deteriorate on weaker domestic, global demand

Manufacturers noted the sharpest fall in new export business since March amid weak demand from the U.S. and mainland China

Bank of Japan keeps interest rates unchanged at around 0.25 percent

Central bank lowered the projected inflation rate for fiscal 2025 from 2.1 percent to 1.9 percent, below the bank's price stability goal of 2 percent

China’s privately offered funds hit $2.76 trillion by end-September

Equity investment funds, valued at 10.89 trillion yuan, were the largest category

U.S. business activity grows in October, price pressures ease

This suggests that the economy is entering the fourth quarter on a strong note

China’s youth unemployment rate falls to 17.6 percent in September

Overall urban unemployment rate stood at 5.1 percent in September, improving slightly from 5.3 percent in August

South Korea reports $1.7 billion increase in revenue, yet faces $62.43 billion fiscal deficit in first 8 months of 2024

The finance ministry noted that this year's deficit is the third-largest ever for the specified timeframe

European Council to mobilize $100 billion annually in climate finance through 2025

The council reaffirmed its commitment to climate finance and aims for new targets beyond 2025.

South Korea inks $2 billion agreement with Philippines to boost infrastructure projects in developing nations 

The deal stipulates that Korea will allocate $905 million from the fund for the construction of the initial segment of the Laguna Lake Road Network 

South Korea’s foreign reserves up for third month to $419.97 billion in September 2024

The BOK attributed the rise to higher non-dollar asset values, driven by a weaker U.S. dollar and investment gains 

U.K. International Investment Summit to boost global trade, investment ties

Summit to feature senior executives from leading tech companies

South Korea’s inflation slows to 3.5 year low of 1.6 percent in September

September's figure marked the lowest inflation level since February 2021 when consumer prices grew 1.4 percent

U.S. job openings rise to 8 million in August, signaling labor market recovery

Layoffs declined in August to 1.6 million from 1.7 million in July