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New home prices in China in July fall slightly after buyer stops paying mortgage

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China’s National Bureau of Statistics (NBS) has announced that new home prices in China remained stable for the second month in a row in July as homebuyers boycotted mortgages. China is in crisis after housing construction fails to complete as promised. Even though the government will continue to take continuous stimulus measures The report said …

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The Japanese economy grew at an annual rate of 2.2% in the April-June period

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According to government data released on Monday, the Japanese economy grew at an annual rate of 2.2% from April to June. This is the third consecutive quarter of growth in private consumption. The increase in gross domestic product (GDP) was slower than the market forecast of 2.5%, corresponding to quarterly growth of 0.5%, while market …

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U.S. House of Representatives approves bill to “battle” inflation

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The U.S. House of Representatives passed the Tax Policy, Health Care and Weatherization Act on Friday (Aug. 12) after the Senate previously approved it. The bill was sent to President Joe Biden for his signature. Democrats want to get the bill, called the Inflation Reduction Act, passed before the November midterm elections. Republicans strongly oppose …

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The UK economy contracted in the second quarter as it was hit by the cost of living crisis

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Official data released on Thursday (August 11) showed that gross domestic product (GDP) contracted by 0.1% quarter-on-quarter in the second quarter of this year, following a 0.8% increase in the previous quarter. The UK economy contracted in the second quarter of 2022 as it was hit by the cost of living crisis. Last week, the …

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India’s inflation slows to 6.71% in July

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The Indian Ministry of Statistics has announced that the consumer price index (CPI) slowed to 6.71% year-on-year in July. This is the lowest level since March, compared to 7.01% in June. However, the CPI remained above the central bank’s 6% target for the seventh consecutive month.

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Hong Kong’s GDP shrinks 1.3% year-on-year in the second quarter, cuts 2022 forecasts

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Government data released Friday showed Hong Kong’s economy shrank 1.3% in the second quarter from a year earlier, following weak foreign trade earnings in the period. It was the second quarter in which the gross domestic product (GDP) of the Asian financial center contracted year on year. Seasonally adjusted GDP increased by 1% in the …

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Indonesia’s trade surplus shrank in July against the backdrop of weakening global trade

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Indonesia’s trade surplus may narrow to $3.93 billion last month as weak exports hit the country due to slowing global trade activity. Southeast Asia’s largest economy posted a trade surplus of $5.09 billion in June. Palm oil exports recovered after the three-week ban was lifted in May. Exports grew 29.73% year-on-year in July, down from …

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