Economy News

Economy

Eurozone's Producer Prices Surge in June: Energy Costs Lead the Charge

Eurostat reports a 0.8% increase in the Eurozone's producer price index in June, with energy prices leading the charge. The EU also saw a 0.7% rise, highlighting ongoing inflationa...

Economy

July's Inflation Hits 2.1% with Coffee Prices Skyrocketing by 15.9%: A Deep Dive into Consumer Costs

In July, consumer prices rose by 2.1% year-on-year, with coffee prices jumping 15.9% due to higher bean costs. While fresh food prices dropped, processed foods and dining-out costs...

Economy

South Korea's Bold Economic Strategy Aims to Surpass Global Growth Predictions

South Korea's Ministry of Economy and Finance aims for a 1% growth rate, exceeding global forecasts through fiscal and regulatory reforms. Challenges include overcompetitive market...

Economy

South Korea's Inflation Rate Slightly Dips to 2.1% in July, What Does This Mean for the Economy?

South Korea's annual inflation rate slightly decreased from 2.2% in June to 2.1% in July, with the CPI rising by 0.2% monthly. Excluding fresh food and energy, the CPI increased by...

Economy

Australian Services Sector Soars: July Marks the Highest Activity Since March 2024

The Australian services sector experienced its highest activity level since March 2024 in July, with the S&P Global Australia Services PMI Business Activity Index rising to 54....

Economy

Bank of Japan Highlights Global Economic Uncertainties Amidst Recovery Signs

The Bank of Japan expresses caution over the global economic outlook, with board members acknowledging high uncertainty despite inflation easing expectations. Discussions included ...

Economy

China's Service Sector Bounces Back: July PMI Hits 52.6, Signaling Robust Growth

China's service sector showed remarkable growth in July, with the PMI reaching 52.6, indicating a significant recovery and the fastest growth pace in over a year, according to S&am...

Economy

Japan's Service Sector Bounces Back in July with a Significant Rise in Business Activity Index

Japan's service sector activity increased in July, with the Business Activity Index rising to 53.6, supported by new work orders. The composite PMI also improved slightly. A US-Jap...