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![Switzerland’s industrial production up 7.3 percent on manufacturing and construction](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
This growth rate represents the largest increase since the first quarter of 2021
![Inflation heats up in Germany, spikes to 2.3 percent in July amid service sector price hikes and slowing growth](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20685'%3E%3C/svg%3E)
Energy prices fell 1.7 percent YoY, while food prices rose 1.3 percent
![Brazil sets out vision to develop creative economy through training, investment and productive inclusion](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The guidelines would promote the producer, audiovisual, copyright, and Brazilian handicrafts
![Eurozone GDP rises 0.3 percent in Q2 2024, exceeding analyst projections as Germany unexpectedly shrinks](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Germany, Eurozone's biggest economy, unexpectedly contracted 0.1 percent in Q2
![Key economic data releases and decisions this week: GDP, inflation, PMI and interest rates](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
This week, the U.S. Federal Reserve, the Bank of Japan and the Bank of England are holding monetary policy meetings
![U.S. debt reaches record $35 trillion, calls grow louder for responsible fiscal policy](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20749'%3E%3C/svg%3E)
The U.S. eclipsed the $34 trillion threshold in early January 2024
![Will faster than expected Q2 U.S. economic growth set stage for potential Fed rate cut?](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The solid growth is driven by resilient consumer spending and business investment
![China cuts lending rates to boost economic growth following weaker Q2 GDP data](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
One-year loan prime rate (LPR) declined to 3.35 percent, while the five-year LPR was reduced to 3.85 percent
![France’s economy projected to grow 0.9 percent in 2024, 1.3 percent in 2025: IMF](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Real GDP grew by 1.1 percent in 2023, supported by net exports, while consumption remained weak
![Pakistan secures new $7 billion loan program from IMF](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20680'%3E%3C/svg%3E)
This agreement, Pakistan's 24th IMF bailout, now awaits approval from the IMF's executive board
![U.S. Fed could start cutting rates this year but should remain cautious: IMF](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
IMF urges the U.S. government to reduce its high fiscal deficit and put debt on a downward trajectory
![U.K. GDP grows 0.4 percent in May 2024 on greater construction, service output](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Service output was the largest contributor to the U.K.'s monthly GDP growth in May 2024
![Japan revises Q1 GDP contraction to 2.9 percent from 1.8 percent on data corrections](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Japanese companies project inflation to hit 2.3 percent three years from now and 2.2 percent five years later
![Australian shares plummet 1.4 percent as inflation surges to 4 percent, stoking rate hike fears](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Morgan Stanley analysts expect an August rate hike, which may further weaken domestic trading conditions
![Spain’s GDP expands 2.5 percent annually in Q1 2024, exceeding initial estimates](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
GDP grew by 0.8 percent sequentially, a faster pace than the 0.7 percent growth seen in the fourth quarter of 2023
![China’s industrial output rises 5.6 percent in May, signaling continued economic expansion](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
China's retail sales grew 3.7 percent in May, up from 2.3 percent in April
![Brazil to be 8th largest economy as it gears up to host COP30 climate conference in 2025, says President](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
The Brazilian leader also noted that country's GDP grew by 2.5 percent in the last 12 months
![Global travel and tourism sector to grow by about $15 trillion over next decade: WTTC](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20684'%3E%3C/svg%3E)
The President of WTTC praised the UAE for their efforts in utilising travel and tourism to promote sustainable development
![China reclaims top spot with $196.5 billion in international tourism spending in 2023: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
This reflects the continued recovery of the Asia and Pacific (APAC) region from the impacts of the COVID-19 pandemic
![Russia raises 2024 budget deficit estimate to $23.76 billion at 1.1 percent of GDP](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Russia reduced forecasts for additional oil and gas revenues by 767 billion roubles to 1.05 trillion roubles
![U.S. economic growth in Q1 revised down to 1.3 percent, but consumer spending stays strong](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
Q1 GDP growth was a sharp slowdown from Q4 2023's 3.4 percent pace
![Clean tech manufacturing investments reach $200 billion in 2023, up 70 percent: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
China accounted for three-quarters of the total investments in this field, according to the report
![Brazil hikes 2024 GDP projection to 2.5 percent, sees inflation reaching 3.2 percent in 2025](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The projected inflation rate for 2024 has been revised upwards to 3.70 percent
![IMF maintains Nigeria growth forecast at 3.3 percent in 2024, inflation to decline to 24 percent](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Potential shocks to agriculture, global food prices and oil production remain a risk to Nigeria's growth