Economy

South Korea’s August exports reach $57.9 billion, up 11.4 percent YoY, driven by strong semiconductor demand

Imports rose by 6 percent year-on-year to $54 billion, resulting in a trade surplus of $3.83 billion

Eurozone inflation hits 3-year low of 2.2 percent in August, signaling possible ECB rate cut next month

The inflation landscape is gradually improving, highlighting the progress toward the ECB's 2 percent target

Fitch reaffirms U.S. credit rating at AA+, says fiscal profile unlikely to change much after elections

The agency expects most 2017 Trump tax cuts to continue, impacting revenue and increasing deficits 

Japan unemployment rate rises to 2.7 percent in July

The job availability ratio inched up to 1.24 in July, rising for the first time in four months

Japan upgrades economic assessment for first time in over a year, reflecting improved consumer spending

The government noted that consumption is rising as shipping disruptions at some automakers ease 

U.S. economy grows 3 percent in Q2 2024, powered by robust consumer spending and business investment

This growth marks a strong rebound from a sluggish 1.4 percent increase in Q1 2024 

OECD forecasts Malaysia’s GDP growth at 4.9 percent for 2024, 4.7 percent for 2025

This growth is driven by increased domestic demand and a recovery in electronics exports 

South Korea sets 2025 budget at $509.71 billion amid fiscal restructuring

The country allocated 29.7 trillion Won for R&D in 2025 budget

U.S. consumer confidence at six-month high in August despite lingering labor market fears

In August, U.S. consumer confidence declined among consumers under 35 while it increased for those 35 and older

Business sentiment in Germany falls in August, economic recovery hopes down: Report

Business expectations fell to the lowest level since February as manufacturers once again reported declining order backlogs

Fed’s Powell says ‘time has come for policy to adjust’, cementing September rate cut hopes

The upside risks to U.S. inflation have diminished while the downside risks to employment have increased

India’s foreign exchange reserves climb to $674.66 billion

This figure is just below the previous record high of $674.919 billion

U.S. business activity hits 4-month low on manufacturing output decline, says S&P

As the business activity slowed in August, employment fell for the first time in three months

Japan’s manufacturing activity dips for second straight month in August: PMI

In contrast, the country's service sector expanded at a solid pace for the second month in a row

Federal Reserve’s July meeting: September rate cut is “likely” if data meets expectations

Central bank officials agreed to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent during the July meeting

Eurozone inflation climbs to 2.6 percent in July, dampening ECB rate cut hope

Core inflation, excluding food and energy, held steady at 2.9 percent despite overall inflation rising

Goldman Sachs lowers U.S. recession odds to 20 percent on better economic readings

The firm added that if the August jobs report was positive, the U.S. recession probability would decline to 15 percent

Switzerland’s industrial production up 7.3 percent on manufacturing and construction

This growth rate represents the largest increase since the first quarter of 2021

Service sector fuels German employment growth, adding 229,000 jobs in Q2 2024

The total number of employed and self-employed individuals rose to 46.1 million

Japan’s economy expands 3.1 percent in Q2 2024, raising rate hike bets

Japan's private consumption, which accounts for over half of the economic output, rose 1 percent in Q2

U.S. inflation slows to 2.9 percent, lowest in over 3 years

Fed rate cut likely as inflation continues to decline