Global Economy
China’s growth reprieve will be short-lived
China may be on track to hit its “around 5 percent” economic GDP target for this year, but repeating the feat will get harder for policymakers. Third quarter growth logged in at 4.6 percent year-on-year, and that pace will need sustaining if the People’s Republic is to achieve medium-level developed economy status by 2035. Unless planners move their own goalposts, they’ll have to contort themselves a lot more.
Analysis / Inflation is not dead, it’s just resting
Inflation in the United States picked up in the late 1960s in the wake of the Vietnam War and spending on President Lyndon Johnson’s “Great Society” set of social programs
New rules drive Japanese trucking sector to the brink
Since April, truck drivers' annual overtime has been capped at 960 hours, or 80 hours per month on average, alongside new rules including on break stops
Analysis / China's growth reprieve will be short-lived
The People's Bank of China, Ministry of Finance and other departments have at least announced enough stimulus measures to convince economists this year's performance will be on-target
Boeing and workers reach tentative deal to end strike
Boeing confirmed a tentative deal was reached and said it includes a 35 percent pay raise over four years and a one-time signing bonus of $7,000
China posts slowest growth in over a year
China posted its slowest growth in a year and a half on Friday, underlining the deep economic woes the country faces as its central bank launched a new bid to boost markets and hinted at a further rate cut in coming months.
Oil prices fall, weekly 7% drop on China demand woes, mixed Mideast outlook
Brent crude futures fell $1.39, or 1.87 percent, to $73.06 a barrel. US West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05 percent
China posts slowest growth in over a year as property woes drag
The economy expanded 4.6 percent year-on-year in the third quarter, down from 4.7 in the previous three months and the slowest since early 2023
Why is China's economy slowing down and could it get worse?
China's economic growth is slowing down as policymakers try to fix a property market downturn, with troubles at major developer Country Garden in focus. Concerns are mounting over whether the world's second-largest economy is coming closer to a crunch point:
Oil rises to highest in over seven months on supply worries
Oil prices rose on Friday to their highest in over half a year and snapped a two-week losing streak, buoyed by expectations of tightening supplies.
US unemployment rate spikes to 3.8%; labor market still has momentum
US job growth picked up in August, but the unemployment rate jumped to 3.8 percent and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
China factory activity shrinks
China’s factory activity contracted for a fifth straight month in August, official data showed on Thursday, as pressure mounts on Beijing to offer more policy support to bolster its sluggish economy.
Global rice supplies tighten after India export ban
Rice prices in key exporting countries including Thailand and Vietnam have climbed around 20 percent since India, the world’s biggest shipper of the grain, banned shipments of a key variety in July, tightening global supplies.
Chinese exporters using currency swaps to retain dollars
Chinese exporters are using a complicated currency swap strategy to avoid converting their dollar earnings into yuan for fear of losing out on potential gains in the US currency, official data and conversations with companies show.
Asian crops output forecast lower as El Nino strengthens
An unusually dry August has taken a toll on cereal and oilseed crops in Asia as El Nino intensified, and forecasts for lower rainfall in September are further threatening to disrupt supplies.
Oil extends gains
Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the US, the world’s biggest fuel consumer, and as a hurricane in the Gulf of Mexico kept investors on edge.
Gazprom reports sharp net income decline
Russian gas giant Gazprom reported Tuesday an 8.5-fold drop in its net income for the first six months of the year as Europe moves away from Moscow’s energy supplies over Ukraine.