Economy News

Economy

Italy's Industrial Production Sees a Slight Uptick in June Amid Annual Decline

Italy's industrial production saw a modest 0.2% increase in June compared to May, but fell by 0.9% annually. Sector-wise, intermediate goods grew by 0.2%, energy and capital goods ...

Economy

China Prolongs Beef Import Safeguard Investigation: What It Means for Global Trade

China's Ministry of Commerce extends its safeguard investigation into foreign beef imports for three more months, aiming to protect the domestic beef industry. The probe, now set t...

Economy

Eurozone Retail Sales Show Promising Growth with a 0.3% Increase in June

Retail trade in the euro area and EU increased by 0.3% in June, with a year-over-year growth of 3.1%. Food and non-food sales saw modest increases, while automotive fuel sales also...

Economy

Trump Administration Slashes Vietnam Tariffs to 20% in Strategic Trade Move

The US has imposed a 20% reciprocal tariff on Vietnam, following negotiations aimed at balancing trade. Both countries are working towards a comprehensive trade agreement to streng...

Economy

US Crude Oil Inventories Plummet by 4.2M Barrels: A Significant Weekly Drop Revealed

The United States crude oil inventories decreased by 4.2 million barrels in the week ending August 1, as per API data. Distillate inventories rose, while gasoline stockpiles fell, ...

Economy

President Trump to Announce Federal Reserve Chair Nominee by End of Week, Narrowing Down to Four Candidates

President Donald Trump is set to announce his pick for the Federal Reserve chair by the week's end, choosing from four final candidates. The decision comes amidst criticisms of cur...

Economy

US Services Sector Shows Signs of Slowing Growth in July, ISM Reports

The US service sector's growth slowed slightly in July, with the PMI at 50.1%, still in expansion. Key indexes showed mixed movements, while employment continued to contract.

Economy

June Sees a Sharp 16% Drop in US Trade Deficit, Reaching $60.2 Billion

The US trade deficit experienced a 16% decline in June, reaching $60.2 billion, with both imports and exports showing decreases. Imports dropped by 3.7% to $337.5 billion, while ex...