Economy

Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday. Advance retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones were looking for a

Pro-EU demonstrators protest outside Parliament against Brexit on the fourth anniversary of Britain’s official departure from the European Union in London, United Kingdom on January 31, 2024. Future Publishing | Getty Images LONDON — Post-Brexit Britain has “significantly underperformed” other advanced economies since the 2016 EU referendum, according to new analysis from Goldman Sachs, which

Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday. The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that

DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai’s World Governments Summit. “China’s biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic

Kristalina Georgieva, managing director of the International Monetary Fund, at a press conference at the IMF Headquarters on April 14, 2023. Kevin Dietsch | Getty Images News | Getty Images DUBAI, United Arab Emirates — The head of the International Monetary Fund warned the Russian economy is still facing significant head winds despite receiving a

Federal Chancellor Olaf Scholz (SPD, r-l), Robert Habeck (Alliance 90/The Greens), Federal Minister for Economic Affairs and Climate Protection, and Christian Lindner (FDP), Federal Minister of Finance, follow the debate at the start of the budget week. Michael Kappeler | Picture Alliance | Getty Images Good news has been sparse for the German economy. And

People shop in a supermarket in the Manhattan borough of New York city on January 27, 2024. Charly Triballeau | AFP | Getty Images The prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday. Updates to the consumer price index

Many Chinese developers have halted or delayed construction on presold homes due to cash flow problems. Pictured here is a property construction site in Jiangsu province, China, on Oct. 17, 2022. Future Publishing | Future Publishing | Getty Images China’s economy is sputtering. Its property market is crumbling, deflationary pressures are spreading across the nation,

A tram passes shoppers as it travels along Istiklal Street in the Beyoglu district of Istanbul, Turkey, on Tuesday, Dec. 19, 2023. Bloomberg | Bloomberg | Getty Images In January, Turkish inflation logged its biggest monthly jump since August with a 6.7% rise from December, while year-on-year inflation hit nearly 65%, according to the Turkish

A mosaic collection of world currencies. FrankvandenBergh | E+ | Getty Images The world is looking at a debt crisis that will span the next 10 years and it’s not going to end well, economist Arthur Laffer has warned, with global borrowings hitting a record of $307.4 trillion last September.  Both high-income countries as well

Adam Gault | OJO Images | Getty Images Credit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Federal Reserve reported Tuesday. Debt that has transitioned into “serious delinquency,” or 90 days or more past due, increased across multiple categories during the year, but none

Elevated shipping costs as a result of ongoing tensions in the Red Sea could impede the global fight against inflation, the Organisation for Economic Co-operation and Development said Monday. The Paris-based group estimates that the recent 100% rise in seaborne freight rates could increase import price inflation across its 38 member countries by nearly 5

Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024.  Emin Sansar | Anadolu | Getty Images Turkey’s newly appointed central bank governor Fatih Karahan has his work cut out for him, named to the job by presidential decree over the weekend after the sudden resignation of

Job growth posted a surprisingly strong increase in January, demonstrating again that the U.S. labor market is solid and poised to support broader economic growth. Nonfarm payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate held

Fs Productions | Tetra Images | Getty Images Black men lost ground in the workforce last month, marking a continuation of the disparities that have permeated the U.S. labor market. Black males who were at least 20 years old saw an unemployment rate of 5.3% in January, up from 4.6% in December, according to seasonally

Patrons at sidewalk tables of Janis bar in Cais do Sodre in Lisbon, Portugal. Horacio Villalobos | Corbis News | Getty Images Euro zone headline inflation eased slightly in January, flash figures published by the European Union’s statistics agency showed Thursday, while core figures declined less than expected. Annual headline price rises came in at

A UPS driver makes a delivery on January 30, 2024 in Miami Beach, Florida.  Joe Raedle | Getty Images Companies announced the highest level of job cuts in January since early 2023, a potential trouble spot for a labor market that will be in sharp focus this year, according to a report Thursday from Challenger,

Cargo trains stand on the railway tracks at a transshipment station in Frankfurt am Main, western Germany, as in background can be seen the city’s skyline, on January 23, 2024. Kirill Kudryavtsev | Afp | Getty Images The euro zone economy stabilized in the fourth quarter of 2023, flash figures published by the European Union’s