Economy News

Economy

US Manufacturing PMI Dips Below 50 in July, Signaling First Contraction in 2025

The US Manufacturing PMI dropped to 49.8 in July, indicating contraction for the first time in 2025. Factors include client uncertainty due to tariffs and a decline in new export o...

Economy

Trump Predicts Stronger Dissents Within Federal Reserve Board on Monetary Policy

President Donald Trump anticipates stronger disagreements within the Federal Reserve Board on monetary policy, following dissenting votes on interest rate cuts by key Fed officials...

Economy

Chancellor Friedrich Merz Pledges Unwavering Support for Germany's Steel Industry Amid US Tariff Tensions

German Chancellor Friedrich Merz vows to protect the steel industry, a sector of strategic interest, amid US tariff tensions. He calls the EU-US trade deal painful but necessary to...

Economy

US Halts $26M Funding for Revolutionary DC-Baltimore High-Speed Train Project Amid Concerns

The US has canceled $26M in grants for the DC-Baltimore SCMAGLEV high-speed train project due to planning issues, community opposition, and national security concerns, ending a dec...

Economy

Fed's Bostic Expresses Significant Concerns Over Latest Jobs Data, Hints at Future Rate Cuts

Federal Reserve Bank of Atlanta President Raphael Bostic raises concerns over recent jobs data, indicating potential risks to the job market but maintains a positive outlook on its...

Economy

South Korea's Exports Defy U.S. Tariffs with a 5.9% Surge in July, Led by Semiconductors and Automobiles

South Korea's exports grew by 5.9% in July despite U.S. tariffs, led by record semiconductor sales and strong performances in automobiles and ships. Exports to the U.S. and ASEAN i...

Economy

UK Housing Market Sees a Steady Rise: Annual Price Growth Climbs to 2.4% in July

The UK housing market experienced a 2.4% annual price growth in July, with the average house price reaching £272,664. Nationwide's Chief Economist highlights improving affordabilit...

Economy

Germany's Manufacturing Sector Shows Signs of Recovery in July, PMI Hits Near Three-Year High

Germany's manufacturing sector showed slight improvement in July with PMI at 49.1, the highest in nearly three years. Output prices rose for five months, but production growth slow...