- — Singapore revises Q3 GDP higher, upgrades 2024 outlook
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at 11/22/24 3:00pmSingapore on Friday upgraded its economic outlook for 2024 as third quarter gross domestic product growth beat expectations and initial estimates, helped by stronger semiconductor production and engineering demand. GDP rose 5.4% year-on-year in the third quarter, government data showed, faster than the 4.1% official advance estimate released last month and a median forecast of ...- — Robust services drive India’s business activity to 3-month high in Nov, cost pressures grow
- at 11/22/24 3:00pmIndias business activity rose at its fastest pace in three months in November, helped by an improving services industry and record job creation, but output inflation spiked to a near 12-year high, a survey showed. The findings are likely to add to economic growth in the ongoing festive quarter which is expected to pick up ...
- — China stimulus spurs healthy mean reversion in Asia: Manishi Raychaudhuri
- at 11/22/24 3:00pmIt’s still unclear whether the Chinese government’s efforts to revive the country’s ailing economy will prove successful, but the stimulus measures already appear to be having one positive side effect: valuations in most Asian equity markets have shifted into healthier territory. Beijing began to roll out a raft of monetary and fiscal stimulus measures in ...
- — Global banks weigh halting fresh credit to India’s Adani after U.S. indictment, say sources
- at 11/22/24 3:00pmSome global banks are considering temporarily halting fresh credit to Indias Adani Group but staying put with existing loans following U.S. prosecutors indictment of its billionaire founder Gautam Adani for fraud, sources said. U.S. prosecutors have charged eight people, including Adani chair Gautam Adani, with agreeing to pay about $265 million in bribes to Indian ...
- — China’s economic recovery instills confidence in global growth
- at 11/22/24 3:00pmIn a world of mounting uncertainties, China is injecting certainty into the global economic landscape with a mix of targeted and effective policies that sustain a steady recovery and unleash new growth drivers. Building up its impetus of high-quality development, the country has reinforced its role as a world growth engine while strengthening the global ...
- — Japan considering raising income tax threshold in fresh economic stimulus
- at 11/22/24 3:00pmJapan is set to kick off discussions on raising the basic tax-free income allowance in effective permanent tax cuts worth up to $51 billion, a step that could also help ease constraints on part-time workers amid intensifying labour shortages. The governments plan, which will be mentioned in an economic stimulus package to be announced on ...
- — UK retail sales dived before new government’s budget, ONS says
- at 11/22/24 3:00pmBritish retail sales fell by much more than expected in October, according to official data that added to other signs of a loss of momentum in the economy in the run-up to the first budget of Prime Minister Keir Starmers new government. Sales volumes dropped by 0.7% from September, compared with a median forecast for ...
- — Japan’s inflation holds above BOJ target, fanning Dec rate hike bets
- at 11/22/24 3:00pmJapans core inflation in October held above the central banks 2% target and a key index stripping away the effect of fuel accelerated, data showed on Friday, keeping pressure on the central bank to raise its still-low interest rates. The data also showed continued gains in service prices, which are closely watched by the Bank ...
- — German economy grew less than expected in Q3, statistics office says
- at 11/22/24 3:00pmGermanys economy grew less than previously estimated in the third quarter, the statistics office reported on Friday, in further bad news for a country set to be the worst performer among the Group of Seven rich democracies this year. Gross domestic product grew by 0.1% in the third quarter of 2024, the data showed, compared ...
- — ECB will closely watch for risk of undershooting target, Villeroy says
- at 11/22/24 3:00pmThe European Central Bank is not behind the curve in cutting interest rates but must watch for the risk of undershooting its inflation target and depressing growth unnecessarily, French central bank chief Francois Villeroy de Galhau said on Friday. The ECB has cut rates three times already this year and investors see further easing at ...
- — Euro zone business activity falls sharply in November, survey shows
- at 11/22/24 3:00pmEuro zone business activity took a surprisingly sharp turn for the worse this month as the blocs dominant services industry contracted and manufacturing sank deeper into recession, a survey showed on Friday. HCOBs preliminary composite euro zone Purchasing Managers Index, compiled by SP Global, sank to a 10-month low of 48.1 in November, below the ...
- — China says it is willing to talk with US to push forward bilateral trade
- at 11/22/24 3:00pmChina is willing to conduct active dialogue with the United States based on the principles of mutual respect and promote the development of bilateral economic and trade relations, vice commerce minister Wang Shouwen said on Friday. Wang, also Chinas International Trade Representative, said China would be able to resolve and resist the impact of external ...
- — Tariffs could hurt growth, boost inflation for all, Bundesbank chief warns
- at 11/22/24 3:00pmEurope and the U.S. will both take a growth hit if there is a new trade war and inflation could also rise, increasing pressure on EU leaders to kick start long-delayed economic integration to insulate the bloc, Bundesbank President Joachim Nagel said on Friday. Nagel joins a long list of policymakers arguing that tariffs proposed ...
- — US business activity gauge rises to 31-month high in November
- at 11/22/24 11:00amA measure of U.S. business activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies from President-elect Donald Trumps administration next year. SP Global said on Friday that its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 55.3 this ...
- — Trade war could leave Europe in recession with high inflation, ECB policymaker warns
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at 11/22/24 4:00amEurope will suffer in case of a fresh trade war with the United States, and could face a recession coupled with high inflation, Cypriot central bank Governor Christodoulos Patsalides said. Incoming U.S. President Donald Trump promised to impose tariffs on most imports and said Europe would pay a big price for having run a huge ... - — Bracing for Trump tariffs, China’s Xi makes diplomatic push at global summits
- at 11/22/24 4:00amIn his first global meetings since Donald Trump was reelected to lead the U.S., Chinese President Xi Jinping went on a diplomatic offensive, hedging against expected new tariffs and preparing to exploit potential future rifts between Washington and its allies. At meeting after meeting, from APEC in Peru to G20 in Brazil over the last ...
- — US existing home sales rebound in October
- at 11/21/24 3:00pmU.S. existing home sales rebounded sharply in October, posting the first annual gain since mid-2021, as buyers rushed into the market to take advantage of a brief decline in mortgage rates. Home sales jumped 3.4% last month to a seasonally adjusted annual rate of 3.96 million units, the National Association of Realtors said on Thursday. ...
- — Fed’s Collins sees more rate cuts ahead for US central bank
- at 11/21/24 3:00pmFederal Reserve Bank of Boston President Susan Collins reiterated on Wednesday she believes the U.S.central bank has more interest rate cuts ahead as it seeks to normalize monetary policy while inflation pressures ease. I expect additional adjustments will likely be appropriate over time, to move the policy rate gradually from its current restrictive stance back ...
- — UK factories see signs of recovery in output, CBI says
- at 11/21/24 3:00pmBritish manufacturers expect their output to grow after a recent slump linked to uncertainty about the first budget of the new government, the U.S. elections and other factors, the Confederation of British Industry said on Thursday. The CBIs monthly industrial trends survey showed output expectations for the next three months improved to +9 in November ...
- — German tax revenue rose by 8.2% in October, finance ministry says
- at 11/21/24 3:00pmGermanys federal and state governments tax revenue rose 8.2% in October compared with the same month last year, the finance ministry said in its monthly report on Thursday, reaching a total of 60.9 billion euros ($64.11 billion). Despite some volatility in revenue levels, the positive trend has persisted in the first 10 months, it said. ...
- — Greece sets up fund to decarbonise its islands, reduce hefty fuel imports
- at 11/21/24 3:00pmGreece signed a deal with the European Commission and the European Investment Bank (EIB) on Thursday to set up a fund that will help its tourism-reliant islands wean off fossil fuel and reduce power costs, the Greek government said. Greek Prime Minister Kyriakos Mitsotakis met EIBs Chair Nadia Calviño on Thursday. Mitsotakis then attended a ...
As of 11/22/24 7:57pm. Last new 11/22/24 4:49pm.
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