Economy News

Economy

UK Service Sector Faces Contraction in April Amid Global Economic Uncertainty

The UK's service sector slowed in April, with PMI falling to 49.0, the lowest since January 2023, due to reduced new business and employment. Experts cite global economic uncertain...

Economy

Eurozone and EU Producer Prices See Significant Drop in March, Energy Sector Hit Hardest

In March, the Eurozone and EU saw a 1.6% drop in producer prices, with energy prices falling the most by 5.8% in the Eurozone and 5.5% in the EU. Annually, prices increased slightl...

Economy

Vietnamese Durian Farmers Face Tough Times as China Ramps Up Inspections and Global Competition Heats Up

Vietnamese durian exports to China are under severe pressure due to increased inspections, leading to longer clearance times and quality issues. Prices have dropped by 30%, and exp...

Economy

Switzerland's Unemployment Holds Steady at 2.8% in April, Youth Figures Show Slight Improvement

Switzerland's unemployment rate remained steady at 2.8% in April, with a slight improvement in youth unemployment. However, the number of unemployed individuals rose by 1.4% from M...

Economy

France's Industrial Sector Shows Modest Growth in March Amid Mixed Performance Across Sectors

French industrial production edged up by 0.2% in March, driven by strong performances in transport equipment and automotive sectors, despite declines in capital goods and energy pr...

Economy

Spain Sees a Significant Drop in Unemployment Rates: A 2.61% Decrease in April

Spain's unemployment rate decreased by 2.61% in April, with 67,420 fewer unemployed people, marking the lowest decline since May 2022. Sectors like agriculture and services saw sig...

Economy

EU Proposes Groundbreaking Zero-Tariff Agreement with US to Strengthen Industrial Trade

The EU has proposed a zero-tariff deal with the US to eliminate duties on industrial goods, aiming to bolster supply chains and mitigate trade tensions. Bilateral trade reached €1....

Economy

German Economy Faces Setback as Services Sector Contracts in April, Marking a 14-Month Low

Germany's services sector contracted in April, with the PMI Business Activity Index falling to 49.0, a 14-month low. The Composite PMI Output Index slightly grew to 50.1, supported...