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Economy

Eurozone Private Sector Contracts as Job Cuts Accelerate

The Eurozone private sector ended 2024 in contraction, with business activity declining for the second consecutive month, according to provisional PMI survey data from S&P Global, released today. The downturn, driven by a sharp fall in manufacturing output and sustained decline in new orders, resulted in the fastest

China's Property Investment Slumps Further in First Eleven Months of 2024

China's property investment continued its downward spiral in the first eleven months of 2024, according to data released by the National Bureau of Statistics (NBS) on Monday, reports Reuters. Property investment during this period fell by 10.4% compared to the same period last year, representing a marginal

China's New Home Price Declines Slow to 17-Month Low Amid Stimulus Efforts

China's new home prices fell at their slowest pace in 17 months during November, according to official data released on Monday by the National Bureau of Statistics. This moderation in price declines comes as the government intensifies its efforts to stabilize the crisis-ridden property sector, reports Reuters. New

Australia's Private Sector Growth Stalls as Employment Contracts for First Time Since 2021

Australia's private sector growth weakened in December, ending a period of expansion and marking the first decline in employment since August 2021, according to a latest report by S&P Global Market Intelligence. The S&P Global Flash Australia PMI Composite Output Index fell to 49.

Japan's Factory Sector Continues to Contract, Services Sector Shows Resilience

Japan's factory activity continued to shrink for the sixth consecutive month in December, highlighting the economy's increasing reliance on the service sector, as reported by Reuters. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) fell to 49.5 in December, down from

Asia Wary as Fed Rate Outlook Clouds Equity Markets

Asian stock markets displayed a cautious demeanor on Monday, with surging bond yields posing a challenge to equity valuations, particularly for the tech sector, as reported by Reuters. This comes as investors brace for a week packed with central bank meetings and key economic data releases. While interest rate cuts

China Aims for 5% GDP Growth in 2023, Says Government Official

China's economy is projected to expand by approximately 5% in 2023, according to a statement made by Han Wenxiu, deputy director of the country's central financial and economic affairs commission, reports Reuters. This growth is anticipated to contribute nearly 30% to global economic expansion. Speaking at

South Korea Finance Ministry Vows Market Stability After Yoon's Impeachment

South Korea's finance ministry has pledged to actively stabilize the economy after President Yoon Suk Yeol was impeached, as reported by Reuters. The ministry stated on Sunday that it would swiftly deploy market-stabilizing measures as needed, prioritizing economic stability in the wake of the political upheaval. The ministry

China Floods Economy with Stimulus as Trump Tariff Threats Loom

Chinese leaders have pledged to increase the budget deficit, issue more debt, and loosen monetary policy in an effort to maintain stable economic growth as the nation prepares for renewed trade tensions with the United States under President Donald Trump, reports Reuters. The announcement came at the conclusion of the

UK Economy Contracts for Second Consecutive Month

Britain's economy shrank for the second consecutive month in October, marking the first back-to-back monthly declines since the onset of the COVID-19 pandemic, reports Reuters. This setback comes as the new Labour government prepares for its first budget and presents a challenge for Finance Minister Rachel Reeves. Gross