In a significant development, the US House of Representatives has successfully passed a bill aimed at increasing the debt ceiling. With a decisive vote of 314 in favor and 117 against, the bill’s approval comes as a crucial measure to prevent a historic debt default by the US government. The legislation, known as The “Fiscal …
South Korea’s manufacturing sector continues to face challenges as the Purchasing Managers’ Index (PMI) for May contracted for the 11th straight month, according to S&P Global. The seasonally adjusted PMI recorded a slight increase from April’s 48.1 to 48.4. The ongoing global economic slowdown has led to reduced production and orders, putting significant pressure on …
South Korea’s Manufacturing PMI Contracts for the 11th Consecutive Month Read More »
The US House of Representatives Passes Bill to Raise Debt Ceiling, Averting Historic Default In a crucial move, the US House of Representatives has approved a bill to increase the debt ceiling, safeguarding the nation from a potentially catastrophic debt default. With an overwhelming vote of 314 in favor and 117 against, the bill, known …
The Mortgage Bankers Association (MBA) recently released data indicating a notable decrease in the number of applicants for mortgage loans in response to the rebound in mortgage interest rates. The report revealed a 3.7% decline in overall mortgage loan applications during the previous week. Among the different types of mortgage applications, those seeking to refinance …
US Mortgage Applicants Decline as Loan Interest Rates Rebound Read More »
In a pleasantly surprising turn of events, Türkiye’s economy witnessed a substantial growth of 4% during the first quarter of 2023, surpassing analysts’ expectations of a 3% expansion. The Turkish National Statistical Office recently disclosed these impressive figures, highlighting the nation’s resilience and potential for economic recovery. While the growth rate is indeed commendable, it …
Türkiye’s Economy Surges by 4% in 1Q23 Despite Earthquake’s Impact Read More »
In a powerful display of dissent, Amazon employees are preparing to stage a strike in protest against the company’s decision to order a return to office work. The planned strike also encompasses employees’ disagreement with recent layoffs and Amazon’s failure to meet its environmental conservation goals. Approximately 1,900 Amazon workers from around the globe are …
The US Bureau of Labor Statistics recently unveiled the findings of the Job Openings and Labor Turnover Survey (JOLTS), revealing a significant increase in job openings during the month of April. The gauge of labor market demand, representing job openings, witnessed a remarkable rise of 358,000 positions, reaching a total of 10.1 million. This surge …
Job Openings in the United States Surge in April, Indicating Labor Market Rebound Read More »
The Canadian economy experienced a robust growth spurt in the first quarter of 2023, expanding by an impressive 3.1%, as reported by the Canadian Bureau of Statistics. The driving forces behind this remarkable growth were international trade and household spending, signaling positive economic prospects for the country. The expansion in the Canadian economy during this …
Canada’s Economy Flourishes, Surging by 3.1% in 1Q23 Read More »
India’s economic growth displayed a remarkable surge in the first quarter of 2023, expanding by an impressive 6.1%, according to the latest report from the National Statistical Office. The significant growth was primarily propelled by a recovery in private investment and robust domestic consumption, underscoring the nation’s resilience and potential for economic revival. The growth …
India’s Economy Surges by 6.1% in 1Q23, Exceeding Expectations Read More »
According to data released by the Finnish National Statistical Office, the Finnish economy experienced a contraction of 0.4% in the first quarter of 2023. This decline was primarily attributed to a contraction in investment and a decrease in exports. The decrease in investment had a significant impact on the overall economic performance during this period. …
Finland’s Economy Contracts by 0.4% in the First Quarter of 2023 Read More »