According to the latest report from S&P Global, the Purchasing Managers’ Index (PMI) for US manufacturing recorded a decline in May, indicating a contraction in the sector. The final PMI figure stood at 48.4, down from April’s reading of 50.2, and slightly below the preliminary estimate of 48.5. The drop below the 50 mark is …
US Manufacturing PMI Contracts in May, Reflecting Economic Challenges Read More »
The Bank of Korea announced today that South Korea’s gross domestic product (GDP) for the first quarter of 2023 grew by 0.3% compared to the previous quarter. This figure remains unchanged from the preliminary estimate and indicates a steady recovery in the country’s economy, driven by an upturn in private spending. Notably, this marks the …
South Korea’s GDP Records 0.3% Growth in Q1 as Private Spending Rebounds Read More »
Elizabeth Holmes Begins 11-Year Sentence at Texas Prison Elizabeth Holmes, the founder of Theranos, a former unicorn startup known for its claims of innovative blood tests, has commenced her 11-year prison sentence at a minimum security facility in Bryan, Texas, United States. Fidelity Lowers Valuation of Twitter Shares Fidelity Investments recently revealed that Twitter’s worth …
In recent news, the Chinese real estate sector is facing ongoing challenges, indicating a slowdown in its performance. Although there were initial signs of recovery at the beginning of the year, the latest report reveals that new home sales in China have started to decline once again. According to data from the China Beige Book …
Lloyds Bank has unveiled the latest results of its survey on British business sentiment, revealing a decline in the Business Confidence Index for the first time in three months. This drop comes as companies in England express less optimism about the economic and trade outlook, despite positive signs of recovery. The Lloyds Bank Business Confidence …
The Swiss government has announced that Switzerland’s economy experienced faster-than-expected growth in the first quarter of 2023. The surge in economic activity can be attributed to strong domestic demand and an increase in exports. According to data released by the Swiss Economic Office, the Gross Domestic Product (GDP), adjusted for sporting activities, expanded by 0.5% …
Hong Kong – The Hang Seng China Enterprises Index (HSCEI), a key stock index representing Chinese companies listed on the Hong Kong Stock Exchange, has entered bear market territory as concerns mount over the Chinese economy’s slowdown and escalating disputes between China and the United States. Early in the trading day, the HSCEI index experienced …
Chinese Company Stocks Plummet Amid Economic Concerns and China-U.S. Dispute Read More »
China’s industrial sector has experienced a continued decline in profits during the first four months of this year, underscoring the prevailing weakness in demand and a significant drop in industrial prices across the country. According to the data released by the National Bureau of Statistics (NBS) of China, industrial profits have fallen by 20.6% during …
The German economy is facing a significant setback as it contracted slightly in the first quarter of 2023, according to the German Statistical Office. This decline has pushed Germany into a state of recession, posing challenges for the country’s economic recovery. In the first quarter of 2023, Germany’s final gross domestic product (GDP) experienced a …
Germany Enters Recession as Q1/23 GDP Contracts by 0.3% Read More »
Gold futures experienced a downturn on Wednesday (May 24) as the relentless strength of the dollar continued to weigh on the market. Meanwhile, investors closely monitored the release of key economic indicators, including the first quarter 2023 gross domestic product (GDP) and the US personal consumption expenditure (PCE) price index, which could provide insights into …
Gold Declines $9.90 as Dollar Strengthens, Investors Await Economic Indicators Read More »