Economy News

Economy

China's March 2025 Car Sales Skyrocket: NEVs Lead with a 38% Yearly Surge

In March 2025, China's passenger vehicle sales surged by 14.4% annually, with new energy vehicles (NEVs) leading the charge, accounting for over half of all sales. Tesla saw a decl...

Economy

ECB's Villeroy Warns: US Tariffs Could Slash Eurozone Growth by 0.25% Amid Trade War Fears

ECB's Francois Villeroy warns that US tariffs could reduce Eurozone growth by 0.25%, highlighting risks to the global economy and potential inflation in the US. Despite the challen...

Economy

Italy Slashes 2025 Growth Forecast to 0.6% Amid Rising US Tariffs Tensions

Italy is preparing to halve its 2025 growth forecast to 0.6% due to tensions over US tariffs, with Prime Minister Meloni set to discuss the issue with President Trump. The Bank of ...

Economy

Surge in US Mortgage Applications: A 20% Weekly Jump Signals Market Shift

Mortgage applications in the U.S. jumped by 20% in the week ending April 5, with significant increases in the Market, Purchase, and Refinance Indexes, alongside a slight dip in int...

Economy

Surge in US Mortgage Applications: A 20% Weekly Increase Signals Market Shift

US mortgage applications jumped by 20% in the week ending April 5, with significant increases in Market, Purchase, and Refinance Indices, alongside a slight dip in 30-year fixed-ra...

Economy

China Strikes Back with Massive 84% Tariff Hike on US Imports Amid Trade War Escalation

China responds to US tariffs by increasing its own tariffs on US imports to 84%, criticizing US actions as unilateral and damaging to global trade. Calls for dialogue to resolve di...

Economy

Italy Slashes 2025 Growth Forecast to 0.6% Amid Rising US Tariff Tensions

Italy prepares to halve its 2025 growth forecast to 0.6% amid US tariff tensions, with PM Meloni set to discuss the issue with Trump. The Bank of Italy also revises its growth esti...

Economy

ECB's Escriva Warns: Worst-Case Economic Scenarios Now Unfolding Amid US Tariffs

ECB's Jose Luis Escriva warns of materializing worst-case economic scenarios due to US tariffs, suggesting a potential shift in global economic dominance from the dollar to the eur...