Economy News

Economy

Global Trade Tensions Escalate as Trump Imposes Heavy Tariffs on Canada, Mexico, and China

President Trump's imposition of steep tariffs on Canada, Mexico, and China has triggered immediate retaliation and threatens to disrupt $2.2 trillion in annual U.S. trade. This mov...

Economy

South Korea's Economic Growth Forecast Remains Steady at 0.2% for Q1 Amid Challenges

The Bank of Korea forecasts a 0.2% growth in South Korea's real GDP for Q1, amidst economic challenges and government efforts to stimulate demand. Insights into recent data and fut...

Economy

China Announces 7.2% Increase in Defense Budget for 2025 Amid Economic Growth Targets

China plans a 7.2% increase in defense spending for 2025, alongside a significant issuance of local government bonds and a GDP growth target of around 5%. The government also empha...

Economy

China's Service Sector Sees Accelerated Growth in February, PMI Climbs to 51.4

China's service sector expanded faster in February with PMI climbing to 51.4, surpassing expectations and indicating growth in supply, demand, and external demand.

Economy

Bank of Japan's Ueda Highlights Geopolitical Risks and Their Impact on Global Capital Flows

Bank of Japan Governor Kazuo Ueda warns of the potential for geopolitical tensions to cause abrupt shifts in capital flows and highlights the importance of global economic cooperat...

Economy

Australia's Economy Surges: Q4 GDP Growth Exceeds Expectations

Australia's GDP grew by 1.3% year-on-year in Q4 2024, exceeding expectations. Quarterly growth also surpassed forecasts, supported by public and private spending and increased expo...

Economy

February Sees a Surge in Japan's Service Sector Activity: A Detailed Analysis

Japan's service sector experienced a significant boost in February, with the Jibun Bank Japan Services Business Activity Index rising to 53.7. This growth, the strongest since last...

Economy

China Sets Sights on 5% GDP Growth by 2025 Amid Economic Strategy Shift

China aims for a 5% GDP growth by 2025, adjusting fiscal policies, creating jobs, increasing defense spending, and issuing treasury bonds to ensure economic stability and growth.