Economy News

Economy

UK's Private Sector Faces Sharp Decline in April Amid Global Demand Slump

The UK's private sector activity experienced a sharp decline in April, with the PMI dropping to its lowest since November 2022. Manufacturing and services sectors both saw signific...

Economy

February Sees a 0.5% Dip in Eurozone Construction Output, EU Follows with 0.4% Decline

Eurozone's construction output fell by 0.5% in February, with the EU seeing a 0.4% decline. Despite monthly drops, year-over-year growth was positive. Sector-specific declines vari...

Economy

Eurozone's Trade Surplus Skyrockets to €24B in February, Outpacing Previous Years

The Eurozone's trade surplus surged to €24 billion in February, with exports and imports showing healthy growth. The EU also reported an increase in trade surplus, highlighting a s...

Economy

Exclusive: WEF Launches Probe into Founder Klaus Schwab Over Alleged Misuse of Funds

The World Economic Forum has launched an investigation into its founder Klaus Schwab following allegations of fund misuse, as reported by a whistleblower and the Wall Street Journa...

Economy

Sharp 12.7% Drop in US Mortgage Applications Signals Economic Uncertainty

The US mortgage applications plummeted by 12.7% in the week ending April 18, as per the MBA survey, with key indexes and interest rates showing unfavorable trends for homebuyers.

Economy

ECB's Nagel Warns: Germany Faces Potential Recession in 2025 Amid Global Economic Shifts

ECB's Joachim Nagel warns of a potential recession in Germany by 2025 but remains hopeful for recovery. He praises fiscal stimulus efforts and discusses global economic challenges,...

Economy

South Korea Seeks Tariff Relief in High-Stakes U.S. Trade Negotiations Amid Export Slump

South Korea is engaging in critical trade negotiations with the U.S. to address tariff impositions that have led to a notable decline in exports, particularly in the automotive and...

Economy

Germany's Economic Slowdown Deepens: Composite PMI Hits Four-Month Low in April

Germany's private sector activity declined in March, with the Composite PMI Output Index dropping to 49.7, indicating contraction. The Services PMI hit a 14-month low, while manufa...