economy

China rolls out 18-point plan to boost rural spending amid growth slump

China's Premier Li Qiang called on officials to ramp up economic support after July data revealed broad-based weakness across the economy, with growth likely slipping further below Beijing's annual target. Speaking at a State Council meeting on Monday, Li warned…

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China’s premier vows new policies after July data misses forecasts

Chinese Premier Li Qiang convened a State Council plenary meeting on Monday, acknowledging that "insufficient domestic demand remains prominent" and pledging to roll out "practical and effective new policies in a timely manner" after July economic data came in well…

France puts heatwave toll at up to €15B as EU losses mount

Europe's record-breaking summer of extreme heat threatens to wipe out an entire year of economic growth across the bloc, with new research estimating cumulative losses of around €180 billion — roughly 1% of EU GDP and nearly equivalent to the…

Eurozone retail sales fall unexpectedly in June

Retail sales across the eurozone fell unexpectedly in June, marking the second monthly decline in three months and underscoring persistent weakness in consumer spending as the bloc contends with elevated interest rates and geopolitical uncertainty.

China’s services PMI hits 10-month low as demand falters

China's private-sector services activity slowed sharply in July, with a closely watched gauge falling far short of expectations and adding to a string of weak economic data that has intensified questions about the trajectory of the world's second-largest economy.

China’s factory activity slows as both PMI gauges weaken in July

China's manufacturing sector showed fresh signs of fragility in July, with the official purchasing managers index slipping into contraction territory for the first time in five months while a private gauge fell to a four-month low, reinforcing concerns that the…

China’s factory activity unexpectedly contracts in July

China's factory activity unexpectedly fell into contraction in July, snapping four straight months of expansion and underscoring a broad loss of economic momentum as the export boom that powered earlier growth began to fade.

France and Germany both post Q2 growth amid trade headwinds

Europe's two largest economies each grew by 0.2% in the second quarter of 2026, according to official data released on Thursday, offering a measured sign of resilience as the continent contends with the economic fallout from the Iran war and…

IMF, Bolivia reach $1.9B financing deal amid crisis

The International Monetary Fund announced on Wednesday that it has reached a staff-level agreement with Bolivia on a $1.9 billion, three-year financing program under the Extended Fund Facility, as the South American nation seeks to stabilize an economy facing its…

China’s youth jobless rate could near 20%, ANZ economist warns

China's urban youth unemployment rate stood at 14.9% in June, marking the highest reading for that month since the government overhauled its methodology more than two years ago, even as a record wave of 12.7 million university graduates prepares to…

Morgan Stanley warns Europe’s AI spend trails U.S. by 20x

Morgan Stanley has warned that U.S. investment in artificial intelligence dwarfs European efforts by a factor of roughly 20, underscoring a widening structural gap between the two regions that analysts say no single policy measure can readily close.

China bets on infrastructure spending to stabilize slowing economy

China's economy expanded 4.3% year-on-year in the second quarter of 2026, its weakest quarterly performance in more than three years, falling below both market expectations and Beijing's own full-year target range, according to data released July 15 by the National…

Fitch says developed world debt to hit record $75.8T

Government debt across developed economies is on track to reach a record $75.8 trillion by the end of 2026 as countries grapple with persistent budget deficits, geopolitical tensions, and rising spending demands, Fitch Ratings said on Tuesday in its latest…

Record consumer defaults collide with China’s slowest growth in three years

As many as 100 million Chinese consumers are struggling to service their personal debt, fueling a largely hidden crisis that now collides with Beijing's weakening growth trajectory. The problem is intensifying even as policymakers double down on credit-driven stimulus to…

Eurozone industrial output drops in May, ending three-month growth streak

Industrial production across the eurozone fell 0.2% in May compared with April, snapping three consecutive months of growth and missing market expectations of a 0.2% increase, according to data published Tuesday by Eurostat.

China’s Q2 GDP expected to slow to 4.5% amid weak demand

China's second-quarter GDP data, due for release on Wednesday, is expected to show the world's second-largest economy grew 4.5% year-over-year in April through June, a marked deceleration from the 5.0% expansion recorded in the first quarter, according to a Reuters…

China’s Q2 growth expected to slow as weak demand drags

China's economic growth likely cooled in the second quarter of 2026, with analysts surveyed by AFP forecasting year-on-year expansion of around 4.5%, down from the 5.0% pace recorded in the first quarter. The official GDP data is scheduled for release…

China’s CPI slows to 1% in June, keeping door open for PBOC easing

China's consumer price index rose 1% year-on-year in June, slowing from 1.2% in May and missing market expectations, as energy costs eased and domestic demand remained subdued. The data, released Thursday by the National Bureau of Statistics, underscored the persistent…

World Bank projects China’s growth slowing to 4.4% in 2026

The World Bank on Tuesday released its latest China Economic Update, projecting that China's economic growth will slow to 4.4% in 2026 and ease further to 4.3% in 2027, as a prolonged property market correction and cautious consumers weigh on…

OECD inflation hit 4.6% in May, highest since 2024

Consumer price inflation across the OECD accelerated to 4.6% in May 2026, up from 4.4% in April, driven by a continued surge in energy costs, the organization reported on July 6. The reading marks the highest level since August 2024…

China’s manufacturing posts strongest quarter since 2020

China's manufacturing sector closed out its strongest quarter in nearly six years, with a private business survey released on Wednesday showing factory activity expanded for a seventh consecutive month in June even as the pace of growth eased slightly.

ECB warns Europe’s heatwave is fueling inflation

A record-breaking heatwave gripping Europe is no longer just a public health emergency — it is rapidly being reframed as a structural threat to the continent's already fragile economy, with central bankers, insurers, and economists warning of hundreds of billions…

China’s economy picks up in June on rebounding exports

China's economy showed signs of recovery in June after two months of weakness, with factory activity accelerating and US-bound export orders posting sharp year-on-year gains, according to the China Beige Book's survey of 1,321 businesses conducted from June 1 to…

Study warns European incomes could fall 27% as deadly heatwave shatters records

As Europe endures one of its most severe early-summer heatwaves on record, a new study warns that the economic toll of such events on households is far greater than previously understood — and set to worsen dramatically without aggressive climate…

Venezuela set to reveal $240B debt in largest restructuring

Venezuela is poised to disclose a total debt burden of $240 billion as it prepares for what would become the largest sovereign debt restructuring in history, the Financial Times reported on Wednesday, citing sources familiar with the plans.

BOJ members push for faster rate hikes toward 2% neutral

The Bank of Japan released a summary of opinions from its June 15-16 policy meeting on Wednesday, revealing that several board members are pushing for additional interest rate increases to bring the central bank's policy rate closer to neutral levels.

Iran’s GDP growth falls to 0.2% as war and sanctions take toll

New official figures released by the Statistical Center of Iran on Monday show the country's economy barely grew during the Iranian year 1404 (March 2025 to March 2026), underscoring the toll of war, sanctions, and domestic upheaval on a nation…

Iran’s record internet blackout threatens mass layoffs as economic toll mounts

Iran's economy is reeling from the combined effects of war, a record-long internet blackout, and an intensifying U.S. sanctions campaign, with mass layoffs sweeping across industries from petrochemicals to the tech sector and threatening the livelihoods of millions.