Latest economic news
Here are some of the latest economic news updates:
Global Economy
- The International Monetary Fund (IMF) has downgraded its global economic growth forecast for 2023, citing rising inflation and interest rates. (Source: Reuters)
- The World Bank has warned that the global economy is facing a "delicate" situation, with risks of a recession increasing. (Source: Bloomberg)
United States
- The US economy added 223,000 jobs in May, beating expectations and showing resilience in the face of rising inflation. (Source: CNBC)
- The Federal Reserve has raised interest rates by 0.5% to combat inflation, marking the largest rate hike since 2000. (Source: The New York Times)
- The US trade deficit widened to $74.4 billion in April, driven by a surge in imports. (Source: The Wall Street Journal)
Europe
- The European Central Bank has raised interest rates by 0.5% to combat inflation, marking the first rate hike in over a decade. (Source: The Financial Times)
- The UK economy contracted by 0.3% in the first quarter, driven by a decline in consumer spending. (Source: The Guardian)
- The German economy has entered a recession, with GDP contracting by 0.2% in the first quarter. (Source: Deutsche Welle)
Asia
- China's economy grew by 4.8% in the first quarter, beating expectations and showing signs of recovery. (Source: The South China Morning Post)
- Japan's economy contracted by 0.6% in the first quarter, driven by a decline in exports. (Source: The Japan Times)
- India's economy grew by 4.1% in the first quarter, driven by a surge in consumer spending. (Source: The Hindu)
Other News
- The cryptocurrency market has seen a significant decline in recent weeks, with Bitcoin falling below $30,000. (Source: CoinDesk)
- The global supply chain has been disrupted by a shortage of semiconductors, leading to production delays and shortages. (Source: The Wall Street Journal)
- The US has imposed tariffs on $2.4 billion worth of European goods, including wine and cheese, in a dispute over subsidies to Airbus. (Source: The New York Times)
These are just a few of the latest economic news updates. If you're looking for more information, I can provide you with additional sources and articles.