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US auto sales rose 4.8% in the first quarter, with buyers snapping up more pickup trucks and sport-utility vehicles ahead of President Trump's tariffs on auto imports. General Motors led the pack with a 17% jump in sales, while electric vehicle sales also rose 19.2%. Ford's sales however dropped 1.3%. The...
The US jobs market showed signs of weakening in February, with a drop in job openings and a slight rise in layoffs. The smallest firms shed around 98,000 jobs in March, a 0.82% decline from February. Meanwhile, a separate report on manufacturing showed a rise in prices paid by companies,...
Germany's economy is expected to grow by just 0.2% in 2025, down from a previous forecast of 0.7%, according to the Association of German Banks. The country has faced two consecutive years of contraction and its prospect for recovery this year has worsened due to US tariffs on imported vehicles....
US private payrolls increased by 155,000 jobs in March, surpassing economists' expectations of 115,000 according to the ADP National Employment Report. Job gains reflected across all sectors, with the goods-producing sector adding 24,000 positions and the service-providing industry rising by 132,000. This follows an upwardly revised 84,000 rise in February. The...
The dollar edged higher on Wednesday as investors anxiously awaited to see the sweeping tariffs that US President Donald Trump's would roll-out on "Liberation Day". The dollar index started April strongly, rising to 104.28, after falling 3.1% in March. The euro and sterling eased slightly to $1.07875 and $1.2914 respectively,...
The US manufacturing sector growth stalled in March, with the S&P Global US Manufacturing Purchasing Managers’ Index (PMI) recording 50.2, down from 52.7 in February. A decline in production and slower order book growth contributed to the slowdown. New export orders stabilized following nine months of contraction, with orders increasing...
The US Bureau of Labor Statistics reported that the Job Openings and Labor Turnover Survey (JOLTS) in February 2025 remained stable at 7.6 million. This number was down by 877,000 in February 2024. The job openings rate remained steady at 4.5%. Hires and total separations also held steady at 5.4...
President Donald Trump has dubbed April 2 'Liberation Day' for his tariffs, promising to impose reciprocal tariffs on nearly all American trading partners. However, details around the tariffs remain unclear. Trump plans to impose a 25% tariff on imports from countries that buy oil or gas from Venezuela, starting April 2....
The euro area seasonally-adjusted unemployment rate decreased to 6.1% in February 2025, down from 6.2% in January and 6.5% a year earlier, according to Eurostat. The EU unemployment rate also dropped to 5.7% in February 2025. Youth unemployment rates were 14.5% in the EU and 14.2% in the euro area, with...
The UK manufacturing sector contracted at a faster pace in March, with the S&P Global UK Manufacturing PMI falling to a 17-month low of 44.9. This decline resulted from a sharp drop in new orders, which fell at the quickest rate in 19 months. Manufacturers reported a tough trading environment, with...
The euro area's annual inflation rate eased to 2.2% in March 2025, down from 2.3% in February, according to a flash estimate from Eurostat. This decline is attributed to a drop in energy prices which fell by 0.7% after increasing to 0.2%. Despite this, services are expected to have the...
France's manufacturing sector moved closer to stabilization in March, with the HCOB France Manufacturing PMI rising to a 26-month high of 48.5. Although still below the 50.0 mark that indicates expansion, the index signaled a modest decline in the sector's health. Consumer goods producers reported growth in output and new orders,...
In February 2025, Australian retail sales increased by 0.2% in seasonally adjusted terms, with a 3.6% rise compared to February 2024. This uptick was led by a 0.6% ($86.1 million) growth in food retailing. Conversely, household goods retailing declined by 0.3%. Online retailing sales rose 1.7% to $73.5 million in February,...
China's manufacturing sector expanded at a faster rate in March, with the Caixin China General Manufacturing PMI rising to 51.2. This marks the sixth straight month of growth in the sector. New orders growth accelerated, supported by the quickest rise in exports since last April. Employment expanded for the first time...
Japan's manufacturing sector fell at the strongest pace for a year in March, with the au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) falling to 48.4. Output and new orders both fell solidly, with firms citing weaker demand from domestic and international clients like Mainland China and the United...
The Reserve Bank of Australia (RBA) has decided to maintain the cash rate target at 4.10% and the interest rate paid on Exchange Settlement balances at 4%. This decision comes as underlying inflation continues to moderate, having fallen substantially since its peak in 2022. The RBA noted that private domestic demand...
Gold soared to a new record high on Monday, surpassing $3,100 an ounce, as investors seek safe-haven assets amid rising geopolitical and US trade tensions. The precious metal gained as much as 0.9% to reach $3,115 an ounce, beating its previous all-time high set on Friday. This marks gold's fourth...
The British pound has steadied against the US dollar at $1.29, as the UK hopes to negotiate a deal with the US to avoid President Donald Trump's reciprocal tariffs. British Prime Minister Keir Starmer and Trump discussed "productive negotiations" towards a UK-US economic prosperity deal in a Sunday phone call,...
Italy's consumer price index (NIC) rose by 0.4% in March 2025 compared to the February, and by 2.0% on an annual basis. This growth was led by rising prices of non-regulated energy products (+1.3%), tobacco (+4.6%), unprocessed food (+3.3%), and communication related services (+0.8%). Core inflation which excludes energy and unprocessed...
The UK's net borrowing of mortgage debt by individuals decreased by £0.9 billion to £3.3 billion in February, following an increase of £0.8 billion in January. Net mortgage approvals for house purchases also decreased, falling by 600 to 65,500 in February. Consumer credit borrowing eased, with net borrowing falling to £1.4...