Economy News

Economy

April's Slowdown: UK Service Sector Faces Contraction Amid Global Economic Uncertainty

The UK service sector experienced its first contraction in one-and-a-half years in April, with the services PMI falling to 49.0. Declines in new business and employment, alongside ...

Economy

Eurozone and EU Witness a Significant 1.6% Drop in Producer Prices in March, Energy Sector Hit Hardest

In March, the Eurozone and EU saw a 1.6% drop in producer prices, with energy prices falling sharply. Despite this, annual growth was positive, indicating fluctuating economic cond...

Economy

Canada's Trade Deficit Shows Significant Improvement in March, Narrowing to $682 Million

Canada's trade deficit narrowed significantly in March to 942 million Canadian dollars from 2.1 billion in February, with exports and imports both seeing declines. The goods trade ...

Economy

March Sees US Trade Deficit Surge to $140.5B, Marking a Significant Monthly Increase

The US trade deficit increased by 14% in March to $140.5 billion, with exports rising slightly and imports seeing a significant jump. Year-over-year, the deficit grew by 92.6%, hig...

Economy

EU Unveils Bold Strategy to Eliminate Russian Gas Dependency by 2027, Enhancing Energy Security

The European Commission has announced a plan to completely end the EU's dependency on Russian energy by 2027, focusing on gas, oil, and nuclear materials to enhance security and tr...

Economy

India's Historic Trade Deal with the UK: 99% of Exports to Enjoy Zero-Duty Access

India's Trade Ministry announces a historic free trade agreement with the UK, ensuring 99% of Indian exports enjoy zero-duty access. Key sectors like textiles, leather, and IT serv...

Economy

German Services Sector Contracts in April: A 14-Month Low Signals Economic Uncertainty

The German services sector contracted in April, with the PMI Business Activity Index falling to a 14-month low of 49.0. Despite a slight increase in the Composite PMI Output Index ...

Economy

EU Proposes Groundbreaking Zero-Tariff Deal with US to Strengthen Industrial Trade Ties

The EU has proposed a "zero-for-zero" tariff agreement with the US to eliminate duties on industrial goods, aiming to strengthen trade ties and supply chain resilience amid growing...