Economy

U.S. President Joe Biden delivers remarks on the U.S. economy and his administration’s effort to revive American manufacturing, during his visit in Flex LTD, a factory that makes solar energy microinverters, in West Columbia, South Carolina, U.S. July 6, 2023.  Jonathan Ernst | Reuters To the untrained eye, Joe Biden leaves the presidency with what

A view from the United States Department of the Treasury building in Washington DC, United States on December 30, 2024. The US Treasury Department was cyberattacked by a Chinese state-sponsored actor in early December.  Celal Gunes | Anadolu | Getty Images The federal budget sank further into red ink during December, leaving the first fiscal

Firefighters battle flames during the Eaton Fire in Pasadena, California, U.S., Jan. 7, 2025. Mario Anzuoni | Reuters Climate-related natural disasters are driving up insurance costs for homeowners in the most-affected regions, according to a Treasury Department report released Thursday. In a voluminous study covering 2018-22 and including some data beyond that, the department found

The Royal Exchange and the Bank of England. SOPA Images / Contributor / Getty Images The U.K. economy grew at a lackluster pace of 0.1% in November, data from the Office of National Statistics (ONS) showed Thursday, with the reading fueling expectations that the Bank of England will proceed with an interest rate cut next

The skyscrapers of the Frankfurt skyline in the evening, with the Deutschherrn Bridge in the foreground. Frank Rumpenhorst | Picture Alliance | Getty Images The German economy contracted by 0.2% in 2024, in the country’s second consecutive yearly slowdown, data from statistics office Destatis showed Wednesday. The drop was in line with the expectations of

Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation. The consumer price index increased 0.4% on the month, putting the 12-month inflation rate at 2.9%, the Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones had

Cattle photographed in New Zealand. Agriculture plays a major role in New Zealand’s economy, especially when it comes to exports. David Clapp | Stone | Getty Images New Zealand’s prime minister told CNBC the country has to look beyond its own backyard for trade opportunities, as the South Pacific island nation signs an economic partnership with

Customers shop for clothing at a Costco store on December 11, 2024 in Novato, California.  Justin Sullivan | Getty Images A measure of wholesale prices increased less than expected in December, providing indication that pipeline inflation pressures eased to close the year. The producer price index rose just 0.2% on the month, less than the

The march higher in U.K. government bond yields since the launch of the Labour government’s debut budget plan in October sparked widespread concern last week, as borrowing costs rose to breach numerous decade highs. The prospect of public spending cuts or further tax rises came into focus last week, as 30-year gilt yields hit their

Job growth was much stronger than expected in December, likely providing the Federal Reserve less incentive to cut interest rates this year. Nonfarm payrolls surged by 256,000 for the month, up from 212,000 in November and above the 155,000 forecast from the Dow Jones consensus, the Bureau of Labor Statistics reported Friday. The unemployment rate

Shapecharge | E+ | Getty Images The labor market may be poised for dislocation with President-elect Donald Trump set to take office for the second time later this month. For the past two years, health care has dominated all other industries in terms of growth, aided partly by Covid-related spending. The health care and social

Getty Images December’s job report marked yet another month of stronger-than-expected growth, with gains coming from many different parts of the U.S. economy. Last month, health-care and social assistance jobs saw the largest gains for a third consecutive month, adding 69,500 to payrolls, according to data from the Bureau of Labor Statistics. Including private education,

A jobseeker holds flyers during the New York Public Library’s annual Bronx Job Fair & Expo at the the Bronx Library Center in the Bronx borough of New York, on Sept. 6, 2024. Yuki Iwamura | Bloomberg | Getty Images The unemployment rate fell for Black women in December, following an alarming increase in the

Signage at the New York Public Library’s annual Bronx Job Fair & Expo at the Bronx Library Center in the Bronx borough of New York, US, on Friday, Sept. 6, 2024.  Yuki Iwamura | Bloomberg | Getty Images The December jobs report is likely to provide only limited clarity on where the labor market is

U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025. Carlos Barria | Reuters President-elect Donald Trump is contemplating calling a national economic emergency to implement his wide-reaching tariff policies, four sources familiar with the matter told CNN. A declaration of this nature will give Trump power to create

A worker adjusts hiring signage at a job and resource fair hosted by the Mountain Area Workforce Development Board in partnership with NCWorks in Hendersonville, North Carolina, US, on Tuesday, Nov. 19, 2024.  Allison Joyce | Bloomberg | Getty Images Private sector job creation eased more than expected in December while wages grew at the

A person shops at a Whole Foods Market grocery store on December 17, 2024 in New York City.  Spencer Platt | Getty Images Activity in the U.S. services industry accelerated in December but brought with it a sharp rise in expectations for price increases as businesses grew concerned about the impact tariffs would have on

A man rides bicycle on a snow-covered street after snowfall in Frankfurt am Main, western Germany, on December 29, 2024.  Kirill Kudryavtsev | Afp | Getty Images Annual inflation in the euro zone rose for a third straight month to reach 2.4% in December, statistics agency Eurostat said Tuesday. The reading was in line with