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Core U.S. retail sales rose 0.9 percent in June after a 0.4 percent unrevised gain in May
However, the IMF has slightly lowered its 2025 growth forecast to 2.2 percent
The Fund expected consumption boost from wage increases
Retail sales rose 2 percent in June, slowing significantly from a 3.7 percent expansion in May
Real GDP grew by 1.1 percent in 2023, supported by net exports, while consumption remained weak
IMF urges the U.S. government to reduce its high fiscal deficit and put debt on a downward trajectory
The BLS data also showed that consumer prices fell by 0.1 percent on a monthly basis
In 2023, wealth growth across the world has recovered from its 3 percent contraction the previous year
Service output was the largest contributor to the U.K.'s monthly GDP growth in May 2024
BOJ faces pressure to hike rates on its upcoming meeting
Reducing policy restraint too late or too little could unduly weaken economic activity and employment, Powell stated
Higher inflation helps lower the value of outstanding debt and pushes down Japan's debt-to-GDP ratio
22 percent of businesses planned to increase compensation in the next three months
Japan's nominal wages rose 1.9 percent to $1,850, marking the highest year-on-year increase in 11 months
5.91 million foreign workers are expected to be employed in Japan by 2040
Trade impacted the U.S. GDP in the first quarter, restricting the economy to a 1.4 percent annual growth rate
Unemployment among young persons in the eurozone reached 14.2 percent in May
Tight supply lines, higher import costs and freight issues also contributed to higher purchase prices
Inflation in Europe's largest economy had already slackened to 2.3 percent in March, its lowest level since June 2021
The platform will likely go live by 2026
Japanese companies project inflation to hit 2.3 percent three years from now and 2.2 percent five years later
Vietnam's finance ministry has also reduced various fees and charges by up to 50 percent until year-end to support businesses
Unemployment in Germany rose to 2.727 million individuals in June, a monthly increase of 4,000
Morgan Stanley analysts expect an August rate hike, which may further weaken domestic trading conditions
