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Economy

Australia's Budget Deficit Widens as Government Increases Spending

Australia's government will face larger budget deficits in the coming years, driven by increased spending on healthcare, cost-of-living support, and veterans' care, reports Reuters. Despite trimming this year's deficit forecast, the Labor government is prioritizing public spending to navigate a slowing economy and upcoming elections.

UK Inflation Hits Eight-Month High, but Services Inflation Holds Steady

British inflation surged to an eight-month high in November, reaching 2.6%, as reported by Reuters. However, the rise in services prices, a key indicator of underlying inflationary pressures closely watched by the Bank of England (BoE), remained steady at 5.0%, offering some respite to the central bank. The

South Korea's M&A Market Collapses as Investment Drops 40%

South Korea's merger and acquisition (M&A) market experienced a dramatic downturn in 2024, with investment plummeting by approximately 40 percent compared to last year, reports Yonhap News Agency. According to data from corporate research firm CEO Score, the combined M&A investment by the top

Canada's Inflation Cools Further, Giving Bank of Canada More Room to Ease Rates

Canada's inflation rate slowed to 1.9 percent in November, coming in slightly below economists' forecasts and down from two percent in October, reports the Financial Post. This deceleration, driven by price declines across all major components of the consumer price index, is expected to provide the

Japan's Exports Surge Past Expectations, But Trump Uncertainty Clouds Horizon

Japan's exports rose more than expected in November, driven by a weaker yen and robust global demand, according to data released Wednesday by the Ministry of Finance, reports Reuters. However, businesses express growing concern that protectionist trade policies under President-elect Donald Trump could undermine future growth. Total exports

Argentina's Economy Shows Signs of Life in Q3

Argentina's economy expanded for the first time in four quarters during the July to September period, signaling a potential turnaround after a prolonged period of contraction, reports Reuters. However, the economy still contracted on a yearly basis. Gross domestic product (GDP) grew by 3.9% in the third

US Manufacturing Growth Stalls in November

Despite the end of a crippling strike at Boeing, the US manufacturing sector showed only a modest rebound in November, according to data released by the Federal Reserve on Tuesday, reports Reuters. Factory output rose by just 0.2% last month, falling short of economist predictions for a 0.5%

Australian Consumer Confidence Takes a Dip as Uncertainty Grows

Australia's consumer confidence dipped in December, reversing some of the gains made earlier in the year, as persistent inflation, elevated interest rates, and global economic uncertainty continue to weigh on household sentiment, reports Bloomberg. The Westpac Banking Corp. consumer sentiment index fell 2% to 92.8 points in

China Plans Record Budget Deficit in 2025 to Counter US Tariff Threat

China will run a budget deficit of 4% of its gross domestic product (GDP) in 2025, the highest on record, as the country prepares to counter the impact of potential tariffs from the United States, report two sources with knowledge of the matter to Reuters. The new deficit target, which

Asian Currency Index Plunges to Two-Year Low Amidst China Woes and Trump Uncertainty

An index tracking Asian currencies has slumped to its lowest point in over two years, driven by a confluence of factors including pessimism surrounding China's economic trajectory and speculation that a Trump administration will bolster the US dollar, reports Bloomberg. The Bloomberg Asia Dollar Index edged down to