Economy

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

Australian wage growth slows to weakest pace in a year as labor market cools

RBA sees easing wage pressures, but inflation battle persists

BoE faces pressure as U.K. inflation nudges higher to 2.2 percent in July on energy cost

The increase, although expected, was slightly smaller than the 2.3 percent rise anticipated by analysts

New Zealand slashes key rate for first time in 4 years as inflation nears target

Central bank suggested at least three more cuts by the middle of next year, projecting the cash rate at 4.9 percent in the fourth quarter of 2024

Japan’s wholesale inflation surges to 11-month high as weak yen bites

The corporate goods price index hit a record high of 123.1, marking the eighth straight month of increases

Singapore’s GDP grows 2.9 percent YoY in Q2 2024

Ministry attributed GDP growth to the wholesale trade, finance and insurance, and information and communications sectors

35 percent odds of a U.S. recession this year, says JP Morgan

Goldman Sachs raised its probability of the U.S. tipping into a recession by 10 percentage points to 25 percent for the next 12 months