Economy

Customers waiting at the checkout in a supermarket. Markus Scholz | Picture Alliance | Getty Images German inflation was unchanged year-on-year at 2.8% in January, preliminary data from the country’s statistics office Destatis showed Friday in the last reading before Germans head to the polls next month. The reading was also in line with a

Inflation closed out 2024 on a strong note, as a price gauge the Federal Reserve focuses on came in well above the central bank’s target, the Commerce Department reported Friday. The personal consumption expenditures price index increased 2.6% on a year-over-year basis in December, 0.2 percentage point higher than the November reading and in line

The Frankfurt skyline at dusk on a November day. Helmut Fricke | Picture Alliance | Getty Images The German economy shrank by 0.2% quarter-on-quarter in the three months ending in December, according to preliminary data released by Germany’s statistics office Destatis on Thursday. The figure is adjusted for price, calendar and seasonal variations. Analysts polled

U.S. economic growth slowed a bit more than expected in the final three months of 2024, the Commerce Department reported Thursday. Gross domestic product, a measure of all the goods and services produced across the sprawling U.S. economy during the period, showed that the economy accelerated at a 2.3% annualized inflation-adjusted pace in the fourth

Economy and Climate Action Minister and Greens Party chancellor candidate Robert Habeck arrives for the weekly federal government cabinet meeting on January 29, 2025 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images The German government on Wednesday slashed its gross domestic product forecast to just 0.3% growth in 2025. “The diagnosis

The European Central Bank is widely expected to kick off its 2025 meetings with another interest rate cut on Thursday, as traders aim to gauge how far the central bank is willing to diverge from a stalled Federal Reserve. Money markets on Wednesday were pricing in 35 basis points worth of rate cuts for the

In this photo illustration the Visa, Mastercard and American Express logo on various credit cards and debit cards are seen beside US one dollar bills on January 4, 2025 in Somerset, England.  Anna Barclay | Getty Images Consumer stress has intensified, with an escalating share of credit card holders making only minimum payments on their

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