Economy

U.S. consumer confidence index climbs to 102.0 in May, but inflation concerns linger

Consumers' 12-month inflation expectations rose to 5.4 percent from 5.3 percent in April

Germany’s business sentiment stagnates in May amid manufacturing, trade recovery

Despite positive outlook, companies were less satisfied with their current business situation

Use quantitative easing carefully, urges ECB official

ECB officials recently agreed a new framework for how to run policy in the future

Korea, Japan, China hold trilateral summit, issue joint statement for collaboration in 6 key sectors

Countries agreed to support discussions to speed up negotiations for a trilateral free-trade agreement

Vietnam’s YoY industrial production up 6 percent in Q1 2024

The manufacturing and processing sector grew by 6.3 percent, contributing 5.5 percentage points to the overall increase

China’s outbound direct investment surges to $47.41 billion in first 4 months of 2024

This represents an 18.7 percent increase compared to the same period last year

Eurozone economic recovery gathers pace, business confidence at 27-month high: PMI

Eurozone to likely grow at a rate of 0.3 percent during the second quarter

Russia’s foreign exchange reserves surge to $603.7 billion in May 2024

The country's foreign exchange reserves rose by $5.3 billion, or 0.9 percent, from May 10 to May 17

UAE announces plan to invest $10 billion in Pakistan

In January 2023, the UAE agreed to roll over an existing $2 billion loan and provide an additional $1 billion to Pakistan

Growth is top business priority for 62 percent of CEOs in 2024: Survey

34 percent of CEOs identify AI as the top theme for business tranformation

Peru exits IMF’s flexible credit line arrangement

The country has maintained robust foreign exchange reserves, low public debt and a prudent fiscal position

New Zealand Central Bank keeps cash rate unchanged at 5.5 percent, signals further policy tightening ahead

Consumer price inflation came in higher than expected at 4.0 percent in the first quarter of the year

U.K. headline inflation falls to 2.3 percent in April, but core and services prices remain elevated

Services inflation eased only slightly to 5.9 percent from 6 percent, missing the 5.5 percent forecast

Italy’s economy to grow by 0.7 percent in 2024, 2025: IMF

Italy's economic activity expanded 0.9 percent in 2023 and 0.6 percent in Q1 of 2024

U.S. manufacturing output falls 0.3 percent in April: Federal Reserve

Motor vehicle and parts output saw a 2 percent decline last month after increasing 2.8 percent in March

Brazil hikes 2024 GDP projection to 2.5 percent, sees inflation reaching 3.2 percent in 2025

The projected inflation rate for 2024 has been revised upwards to 3.70 percent

African Development Bank Group to launch 2024 African Economic Outlook on May 30

Africa's transformation is crucial for the continent to catch up with other regions globally

U.S. annual inflation slows to 3.4 percent in April, monthly CPI up 0.3 percent

The main drivers of the CPI increase were the rising costs of shelter (up 0.4 percent) and gasoline (up 2.8 percent)

U.K. second largest foreign investor in Saudi Arabia with $16 billion in investment shares

Saudi minister highlights the Kingdom's status as the fastest-growing economy over the past six years

Stress in home loans manageable despite high rates: ECB

ECB's review shows lenders were not adequately weighing up risks before granting a mortgage

U.S. small business sentiment recovers in April after hitting 12-year low in March

Inflation remains the most important concern when operating a small business in the U.S.

$3.7 billion Saudi investments set to boost North East England’s economy, generate 2,000 jobs: U.K. Official

An Education Task Force will be also established to promote cooperation in higher education

Japan’s wholesale inflation remains at 0.9 percent in April as yen declines

Import prices in yen increased 6.4 percent annually in April and 1.4 percent compared to March