Economy News

Economy

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

The US goods and services trade deficit rose by 14% in March to $140.5 billion, with exports increasing slightly by 0.2% and imports jumping by 4.4%. Annually, the deficit grew by ...

Economy

UK Service Sector Faces Significant Slowdown in April Amid Global Economic Uncertainty

The UK service sector experienced a significant slowdown in April, with the services PMI falling to 49.0, the lowest since January 2023, due to decreased new business and employmen...

Economy

EU Unveils Bold Strategy to Eliminate Russian Gas Dependency by 2027 Amid Rising Tensions

The European Commission announces a strategic plan to end reliance on Russian gas by 2027, focusing on market transparency and combating sanction evasion, while also restricting nu...

Economy

Swiss National Bank on High Alert: Ready to Intervene as Franc Strengthens

Swiss National Bank Chairman Martin Schlegel reaffirms the bank's readiness to intervene in the foreign exchange market due to the Swiss franc's significant appreciation, aiming to...

Economy

Historic UK-India Free Trade Deal Unlocks Zero-Duty Access for 99% of Indian Exports

India celebrates a historic free trade agreement with the UK, ensuring zero-duty access for 99% of its exports, boosting sectors like textiles, IT, and more, alongside benefits for...

Economy

German Business Activity Faces Setback in April as Services Sector Contracts

In April, Germany's services sector contracted, with the PMI Business Activity Index falling below 50.0 for the first time since November, indicating a 14-month low. The Composite ...

Economy

Eurozone's Economic Momentum Wanes in April as Services Sector Stagnates

The Eurozone's private sector growth slowed in April, with the services sector nearly stagnating. Despite a slight uptick in manufacturing, the overall economic momentum waned, as ...

Economy

Swiss National Bank on High Alert: Ready to Intervene as Franc Strengthens

Swiss National Bank Chairman Martin Schlegel reaffirms the bank's readiness to intervene in the forex market to counter the Swiss franc's appreciation, aiming to protect economic s...