- US GDP Growth Slows: The US Department of Commerce’s recent release of GDP data for the first quarter of 2024 indicates a growth rate of 1.6%, marking the lowest expansion in nearly two years. This figure falls below analysts’ forecasts of 2.4%, signaling potential economic challenges ahead. Additionally, the Personal Consumption Expenditures (PCE) Price Index showed a notable increase, reflecting rising inflationary pressures.
- Global Economic Watch: Market observers are closely monitoring the outcomes of the Bank of Japan (BOJ) and Russian Central Bank’s monetary policy meetings. Economic data releases from various countries, including Japan’s Consumer Price Index (CPI) for Tokyo, Australia’s Producer Price Index (PPI) for the first quarter of 2024, and Singapore’s March industrial production figures, are also under scrutiny. Furthermore, the United States is set to unveil the Personal Consumption Expenditures (PCE) Price Index for March and the final Consumer Confidence Index for April from the University of Michigan.
- Putin’s Planned Visit to China: Russian President Vladimir Putin has announced intentions to visit China in May, marking his first foreign trip since reelection. This diplomatic move underscores the ongoing engagement between Russia and China, with discussions likely to cover a range of bilateral and regional issues.
- Yellen’s Economic Outlook: US Treasury Secretary Janet Yellen, in an interview with Reuters, expressed confidence in the resilience of the US economy. Despite the subdued GDP growth reported by the Commerce Department, Yellen anticipates a stronger expansion trajectory than initially estimated. Speculation arises regarding potential adjustments to GDP estimates and expectations of a moderation in inflation levels.
- International Call for Hostage Release in Gaza: Thailand, along with 17 other nations, has issued a joint statement urging Hamas to release all hostages held in Gaza. The statement emphasizes the importance of hostage release in facilitating an immediate ceasefire and enabling the delivery of humanitarian aid, with signatory nations advocating for an end to the crisis in the region.
Today’s global news landscape reflects a mix of economic uncertainties, diplomatic engagements, and humanitarian concerns, shaping discussions and actions on the international stage.