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China Expands Consumer Subsidies to Boost Electronics Sales

China is expanding its consumer subsidy program to include smartphones, tablets, and smartwatches, in a bid to revitalize sluggish consumer spending, according to a Friday announcement by the National Development and Reform Commission (NDRC), as reported by the Wall Street Journal. The NDRC stated that the program, which currently incentivizes

US Manufacturing Shows Signs of Life as PMI Hits Nine-Month High

The US manufacturing sector showed signs of improvement in December, as reported by Reuters, citing data released by the Institute for Supply Management (ISM) on Friday. According to the latest release, the Purchasing Managers' Index (PMI) rose to 49.3, its highest level since March. This represents a notable

Gold ETF Outflows Continue Despite Fed Easing and Record High Prices

Despite a year marked by record-high gold prices and the Federal Reserve's pivot towards easing monetary policy, investors continued to sell off gold-backed exchange-traded funds (ETFs) for the fourth consecutive year, reports Bloomberg. While the prospect of Fed interest rate cuts in 2024 initially boosted gold ETFs, the

China's Factory Growth Stumbles as US Trade Fears Weigh

China's factory activity expanded at a slower-than-anticipated pace in December, as overall sales were dampened by weakening export orders amid growing concerns about the trade outlook, as reported by the South China Morning Post, citing a private sector survey released Thursday. The Caixin/S&P Global manufacturing

Transdniestria Braces for Cold as Russian Gas Cut-Off Hits

The breakaway Moldovan region of Transdniestria has been plunged into a heating and hot water crisis following Russia's cessation of gas supplies via Ukraine, as reported by Reuters. The move, effective Wednesday, has left the predominantly Russian-speaking territory of 450,000 people facing a harsh winter. "There

Russian Gas Era in Europe Ends as Ukraine Halts Transit

Russia's dominance over Europe's energy markets has come to an end with the complete cessation of Russian gas exports through Ukraine, as reported by Reuters. The halt, effective from 0500 GMT on New Year's Day, marks the culmination of a years-long shift in the

Trade War Could Trigger China's "Deflation Export" to Europe: Knot

The potential for a US-China trade war looms large, with the incoming Trump administration threatening tariffs that could have significant repercussions for the global economy, including the risk of China "exporting deflation" to Europe by selling goods at discounted prices, according to European Central Bank Governing Council member

Senegal's Economic Growth Surges on Oil Boom

Senegal's economic growth surged to a record high in the third quarter, fueled by the commencement of oil exports, reports Bloomberg. The International Monetary Fund (IMF) forecasts the West African nation's economy to expand by 9.3% in 2024. The National Agency of Statistics and Demography

China's Manufacturing Resilience Continues: Reuters Poll Shows 3rd Month of Expansion

China's manufacturing sector likely expanded for a third consecutive month in December, according to a Reuters poll of 28 economists. The official purchasing managers' index (PMI) is forecast to hold steady at 50.3, marking the third month above the 50-point threshold that indicates growth, as reported

Spanish Inflation Accelerates, But Still Supports Gradual ECB Rate Cuts

Spanish inflation unexpectedly quickened in December, rising to 2.8% year-on-year, according to data released Monday by the national statistics agency. This marks the second consecutive month above the 2% threshold and is stronger than the 2.6% median forecast from economists surveyed by Bloomberg. The rise in inflation, as