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Economy

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

Japanese Business Mood Improves Slightly, But Global Risks Remain

Japanese business confidence edged higher in the three months to December, according to a Bank of Japan (BOJ) survey released Friday, offering some reassurance to the central bank as it navigates a gradual path toward higher interest rates, reports Reuters. While sentiment among large manufacturers improved, rising to +14 from

Australia's Unemployment Rate Defies Expectations, RBA Rate Cut Prospects Dim

Australia's unemployment rate unexpectedly fell to an eight-month low in November, signaling a far more resilient labor market than many had anticipated, reports Reuters. This surprising strength has prompted a reassessment of the Reserve Bank of Australia's (RBA) need to cut interest rates in February, just

US Inflation Shows Signs of Stalling, Raising Concerns for Fed

US inflation likely saw another month of firm price increases in November, suggesting that progress toward the Federal Reserve's target is slowing, reports Bloomberg. Economists polled by Bloomberg project a 0.3% rise in the core consumer price index (CPI), excluding food and energy, for the fourth consecutive

Tariffs Top Investor Concerns as Trump Begins Second Term, Goldman Sachs Survey Shows

A Goldman Sachs survey reveals that tariffs are the primary concern for investors as President Trump embarks on his second term. While largely agreeing with Goldman Sachs’ predictions on policy changes, investors appear more apprehensive about the potential economic and monetary fallout from Trump's trade actions. The survey

Australia's Slowing GDP Growth Pushes Rate Cut Expectations Forward

Australia's economy grew at its slowest annual pace since the pandemic in the third quarter, disappointing expectations for a rebound and prompting a significant shift in market forecasts for interest rate cuts, reports Reuters. The Australian Bureau of Statistics (ABS) revealed on Wednesday that real gross domestic product

China's Services Sector Growth Slows Amidst US Tariff Concerns

China's services sector growth eased in November, according to a private sector survey, as the economy grapples with multiple challenges and anticipates the impact of increased US tariffs under the incoming Trump administration, reports Reuters. The Caixin/S&P Global services purchasing managers' index (PMI) fell