Shanghai’s main road lies empty during the evening rush hour on Thurs. Dec. 22, 2022, amid a wave of Covid infections. Future Publishing | Future Publishing | Getty Images BEIJING — It’s b...
Tag: Economic events
China’s economy looks different than it was going into the pandemic
The central China city of Taiyuan saw its GDP grow by 10.9% year-on-year in the first three quarters of 2022. Pictured here is a screen displaying details of a new factory in the city. Vcg | Visual Ch...
Why salaries in the United States don’t keep up with inflation
Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared with a year prior — the largest annual increase since 1981. While wages are rising, they’re...
UK announces major overhaul of its financial sector in attempt to spur growth
One Canada Square, at the heart of Canary Wharf financial district seen standing between the Citibank building and HSBC building on 14th October 2022 in London, United Kingdom. Mike Kemp | In Pictures...
Used vehicle demand and prices continue to decline from record highs
A pedestrian walks past a certified pre-owned car sales lot in Alhambra, California on January 12, 2022. Frederic J. Brown | AFP | Getty Images DETROIT – Wholesale prices of used vehicles reached thei...
Saudi Arabia reports first budget surplus in nearly 10 years
The Kingdom Tower (center) stands on the skyline above the King Fahd highway in Riyadh, Saudi Arabia. Simon Dawson | Bloomberg | Getty Images Saudi Arabia reported its first budget surplus in nearly 1...
Oil plunge, tech collapse and Fed cuts? Strategist shares possible 2023 market ‘surprises’
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, August 29, 2022. Brendan McDermid | Reuters After a tumultuous year for financial markets, Standard Chartered outlin...
Fed may wreck one of greatest booms in history of Main Street America
The Census Bureau reported almost 433,000 new business applications in October, up from 313,000 in December 2019, before the Covid pandemic began, and 413,000 as recently as June. Mint Images | Mint I...
Hang Seng still in bear market territory despite best month since 1998
Red lanterns are hung up on the street in Wan Chai, Hong Kong. (Photo by Zhang Wei/China News Service via Getty Images) China News Service | China News Service | Getty Images Hong Kong’s benchma...
UK property demand down 44% since market-rocking mini budget: Zoopla
Estate agents “Sold” and “For Sale” signs outside residential properties in the Maida Vale district of London, UK, on Thursday, June 30, 2022. Bloomberg | Bloomberg | Getty Ima...
Rent growth slows to the lowest level in 18 months
A “Now Leasing” sign is displayed in front of an apartment complex in Washington, DC, on January 24, 2022. Stefani Reynolds | AFP | Getty Images The red-hot rental market is finally starti...
UK property market at risk of major downturn as recession fears loom
Economists are predicting that soaring interest rates and falling prices will mark the end of the U.K.’s 13-year housing market boom, potentially leading to a house price crash. Matt Cardy | Getty Ima...
Here are the three big issues facing Ukraine as a tough winter approaches
Winter is on the way, and in war-torn Ukraine the fight against Russia appears far from over. Moscow continues to target Ukrainian power plants and stations. Grain shipments out of Ukraine have been i...
UK on the brink of recession after economy contracts by 0.2% in the third quarter
The Bank of England has warned that the U.K. is facing its longest recession since records began a century ago. Huw Fairclough | Getty Images News | Getty Images LONDON — The U.K. economy contracted b...
Consumer confidence is near its lowest in a decade, and that could be a problem for Biden
US President Joe Biden speaks during a DNC rally in Miami Gardens, Florida, US, on Tuesday, Nov. 1, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Anxiety over the cost of living and the directi...
Consumer confidence in housing hits new low, says Fannie Mae
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Rising mortgage rates, high home prices and...
Treasury Department sold record $1 billion of Series I bonds on Oct. 28
The U.S. Treasury Department in Washington. Al Drago/Bloomberg via Getty Images I bonds broke daily, weekly and monthly sales records The Treasury sold $979 million of I bonds before the deadline on F...
What an inverted yield curve means for the economy
Catherine Yeulet | Getty Images What the inverted yield curve means Generally, longer-term bonds pay more than bonds with shorter maturities. Since longer-maturity bonds are more vulnerable to price c...
U.S. consumer spending seeing a ‘mitigation’ in growth not a slowdown, says Bank of America CEO
U.S. consumer spending is experiencing a “mitigation of growth” but not a slowdown, Bank of America CEO Brian Moynihan said Friday. Interest rate hikes by the Federal Reserve are starting ...
US economy seeing a ‘mitigation’ in growth not a slowdown, says Bank of America CEO
The U.S. economy is experiencing a “mitigation of growth” but not a slowdown, Bank of America CEO Brian Moynihan said Friday. Interest rate hikes by the Federal Reserve are starting to be ...
When will Asia’s travel industry recover? Maybe as soon as 2023
A new report indicates the travel industry in Asia-Pacific may be the only one in the world to recover by 2023. This year’s “Travel & Tourism Economic Impact” report — an annual ...
U.S. defense industry faces surging demand and a supply chain crunch
The war in Ukraine and rising tensions over Taiwan have caused demand for high-tech, American-made weapons to surge. And with the ongoing supply chain crunch and inflation continuing to rise, military...
China is no longer just any emerging market
A worker disinfects the Sanlitun shopping complex in Beijing in June as stores in the area were closed for three days after a Covid outbreak. There’s greater caution on China this year, as strin...
Paul Tudor Jones believes we are in or near a recession and history shows stocks have more to fall
Billionaire hedge fund manager Paul Tudor Jones believes the U.S. economy is either near or already in the middle of a recession as the Federal Reserve rushed to tamp down soaring inflation with aggre...
New cars are finally back in stock, but they come at a steep price
Vehicles are displayed for sale at an AutoNation car dealership on April 21, 2022 in Valencia, California. Mario Tama | Getty Images DETROIT — New cars are slowly becoming more widely available, as su...
Apartment demand fell during busiest renting season, RealPage report says
The third quarter of every year is historically the busiest for apartment rentals, but demand fell this year, according to RealPage. It’s the first time the rental technology platform has record...
Why the Federal Reserve won’t be so quick to ease up on its fight against inflation
Jerome Powell, chairman of the US Federal Reserve, speaks during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Federal Reserve officials this week gave their clearest signal ...
Mortgage mayhem sparks fears of a housing market crash in Britain
U.K. mortgage rates have skyrocketed since Finance Minister Kwasi Kwarteng’s mini-budget on Sept. 23, prompting banks to pull mortgage products threatening a deepen an expected housing market do...
‘The Fed is breaking things’ – Here’s what has Wall Street on edge as risks rise around the world
Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images As the Federal Reserve ramps up ef...
How Asia’s richest person gave Bezos a run for his money
Gautam Adani has had a very good year. The Indian billionaire briefly surpassed Amazon founder Jeff Bezos to become the second-richest person in the world in September, according to Bloomberg. He̵...