Germany GDP growth revised up to 0.3% in Q2
Germany's economy grew 0.3% in the second quarter from the previous three months, revised official data showed on Tuesday, improving on an initial estimate of…
Economy & Trade — August 2026
Mexico says US trade talks continue despite Canada spat
Mexican President Claudia Sheinbaum said Monday that Mexico's trade talks with the United States were continuing despite Washington's tariff dispute with Canad…
Canada trade war turns to Quebec French language
The US-Canada tariff dispute has widened into a fight over Quebec's French-language protections after Canadian Prime Minister Mark Carney said US demands threa…
Lebanon economy to shrink 6.4%, World Bank says
The World Bank projected that Lebanon's economy will contract by 6.4% in 2026, saying the latest Israel-Hezbollah war has disrupted a recovery from the country…
Brazil tariffs: Lula says US talks are scheduled
Brazilian President Luiz Inacio Lula da Silva said US and Brazilian commerce officials have scheduled a meeting after he urged US President Donald Trump in a F…
Ground beef imports get 300,000-ton tariff relief
US President Donald Trump said Friday the United States will temporarily allow up to 300,000 metric tons of product for ground beef to be imported without an o…
Eurozone business activity grows again in August
Eurozone business activity grew for a second consecutive month in August, with S&P Global’s purchasing managers’ index rising to 52.1 from 52 in July. A PMI r…
Japan core inflation rises to 1.8% in July
Japan's core inflation rate, excluding food, rose to 1.8% in July from 1.6% in June, official data showed Friday, adding pressure on policymakers as prices rem…
India allows 1m tonnes of duty-free raw sugar imports
India approved duty-free imports of up to 1 million metric tonnes of raw sugar on Thursday to curb high prices ahead of the festive season. The commerce minis…
China opposes Trump drone tariffs of up to 100%
China said Thursday it firmly opposes new US tariffs of up to 100 percent on imports of unmanned drones and their components, and urged Washington to withdraw…
Canada trade deal terms unfair, PM says
Canadian Prime Minister Mark Carney said the terms of a US trade deal were “unfair,” as Canada and the United States remained locked in a tariff dispute before…
UK inflation rises to 2.9% as energy bills climb
UK inflation rose to 2.9% in July from 2.6% in June as household energy bills increased, the Office for National Statistics said Wednesday. The Consumer Price…
UAE halts trade and financial transactions with Iran
The United Arab Emirates halted trade and financial transactions with Iran on Tuesday, adding an economic measure amid tensions with Tehran. Earlier Tuesday,…
Canada to announce response to Trump tariffs
Canada is due to announce on Tuesday, August 25, new measures in response to US President Donald Trump's latest tariffs, after trade talks between Ottawa and W…
Havana blackouts empty streets as Cubans seek way out
Havana's streets have grown darker and emptier after a seven-month US fuel embargo and rolling power cuts, as residents face deep uncertainty over Cuba's future. Old Havana, once known for music, nightlife and crowds of tourists, is now described as largely d…
Argentina debt delinquency hits two-decade high under Milei
Debt delinquency among Argentine families has tripled in a year and reached its highest level in two decades under President Javier Milei, with 5.8 million people more than 90 days behind on payments, according to the Central Bank of Argentina. The Central Ba…
Canada inflation hits 3% as US tariffs loom
Canada's annual inflation rate reached 3% in July, up from 2.8% in June, Statistics Canada data showed Monday, as gasoline prices rose and new US tariffs threatened by President Donald Trump approached. Statistics Canada said gasoline prices were 25.7% higher…
Singapore non-oil exports jump 24.2% on AI demand
Singapore's non-oil domestic exports rose 24.2 percent in July, Enterprise Singapore said Monday, as demand linked to artificial intelligence lifted electronics shipments. The increase followed a 20.8 percent rise in June. Enterprise Singapore said electronic…
China retail sales slow to 0.6%, factory output to 4.5%
China's retail sales grew 0.6 percent year on year in July and industrial production grew 4.5 percent, official data showed Monday, with both figures slowing from June and falling short of forecasts in a Bloomberg survey. The National Bureau of Statistics sai…
Japan GDP growth slows to 0.3%, clouding BoJ hike
Japan's economy grew 0.3% in April-June, slowing from 0.5% in the previous three months, after capital expenditure fell and private consumption was flat, the Cabinet Office said on Monday. On an annualised basis, gross domestic product expanded 1.1%, down fro…
Colombia quake: president asks Trump to suspend tariffs
Colombian President Abelardo de la Espriella asked US President Donald Trump to temporarily suspend tariffs on Colombian products as the country deals with a deadly earthquake. De la Espriella said on X that he had asked Trump to consider suspending the tarif…
EU rejects US pressure on green business rules
The European Union pushed back on Friday after the United States renewed pressure over the bloc's green business rules and accused it of risks linked to Chinese tariff evasion. US ambassador to the EU Andrew Puzder urged the bloc to “align” provisions of two…
US consumer sentiment falls as inflation fears rise
US consumer sentiment fell in August after two months of gains, with inflation expectations still elevated, preliminary University of Michigan survey data showed Friday. The survey's consumer sentiment index came in at 51.0, down from 55.2 in July. Survey dir…
US retail sales fall 0.6% as sentiment drops
US retail sales fell 0.6 percent in July from the previous month to $763.6 billion, while consumer sentiment dropped in August, new data showed Friday. The Department of Commerce figures marked the weakest monthly performance for retail sales in more than a y…
Indonesia to shut more than 750 state firms, Prabowo says
Indonesia will close more than 750 state-owned enterprises by December 31, President Prabowo Subianto told parliament on Friday, as he criticised what he called unproductive firms and “made up” profits. Prabowo said Indonesia had 1,074 state-owned enterprises…
Brazil inflation slows to 4.64% in June
Brazil’s annual inflation slowed to 4.64 percent in June, official data showed Friday, helped by lower food and fuel prices. The IBGE statistics agency said t…
Vienna tourist tax rise worries hotels after record visits
Vienna has raised its visitor tax after record tourism growth, drawing warnings from hotel and travel industry representatives who say the higher charge could…
China growth forecast to slow to 4.5%
China's economic growth is forecast to slow to 4.5% year on year in second-quarter data due Wednesday, according to the median estimate in an AFP survey of ana…
US holds off on commercial aircraft tariffs
The United States is holding off on immediate new tariffs on commercial aircraft and parts after a Commerce Department investigation, according to a proclamation signed Thursday by President Donald Trump. The proclamation said the probe found that actions by…
German exports rise 0.9% in May on US, China demand
German exports rose 0.9 percent in May to 137.9 billion euros, preliminary data from statistics agency Destatis showed, helped by higher demand from the United States and China. Exports increased for a fourth straight month. Analysts surveyed by FactSet had e…
China inflation eases to 1.0% as energy costs cool
China's consumer inflation eased to 1.0 percent year on year in June as energy and commodity prices cooled, official data showed Thursday. The consumer price index rose 1.0 percent last month, down from 1.2 percent in May, according to the National Bureau of…
IMF cuts 2026 global growth forecast to 3.0%
The International Monetary Fund cut its 2026 global growth forecast to 3.0% on Wednesday, down from 3.1% in April, and said renewed fighting in the Middle East added risks to the outlook. Petya Koeva Brooks, deputy director of the IMF's research department, s…
Switzerland GDP grows 1.5% in second quarter
Switzerland’s economy grew 1.5% in the second quarter, up from 0.4% in the first three months of the year, the economy ministry said Friday in initial estimates. The ministry said the industrial sector made a major contribution to growth, led by the chemical…
US tariff evasion: White House flags 40 countries
The Trump administration has flagged more than 40 US trading partners as potential risks for helping Chinese goods evade tariffs through illegal transshipment. A White House report released Thursday named economies including the European Union, Taiwan, Mexico…
Tesla strike in Sweden to end after nearly three years
Sweden's metalworkers' union IF Metall said it will end its strike against Tesla as of August 19, almost three years after the labour action began. The union said on Thursday that Tesla had bought out all of its striking members. The strike began on October 2…
Spain inflation rises to 3.6% in July on energy costs
Spanish inflation accelerated to 3.6% year on year in July from 3.2% in June, final data from the statistics office INE showed Thursday. INE said higher energy costs, especially motor fuels and electricity, pushed up transport costs. It said prices for food a…
UK economy slows to 0.4% in second quarter
The UK economy grew 0.4% in the second quarter, slowing from 0.6% at the start of the year, the Office for National Statistics said Thursday. The ONS said output remained relatively robust despite domestic political unrest and pressure from higher energy cost…
Russian economy grows 1.3% in Q2 after contraction
Russia's economy grew 1.3 percent in the second quarter, the statistics agency Rosstat said Wednesday, rebounding after a 0.2 percent contraction in January-March. The April-June growth exceeded the 0.9 percent forecast by Russia's economy ministry. Rosstat d…
US inflation slows to 3.4% in July
US consumer inflation slowed to 3.4% year on year in July, while the consumer price index rose 0.1% from a month earlier, US Bureau of Labor Statistics data showed Wednesday. The annual rate was down from 3.5% in June and matched expectations from economists…
Australia gig delivery drivers get A$31.30 hourly pay
Australia's Fair Work Commission has ordered new minimum standards for delivery drivers on online platforms, setting pay at Aus$31.30, or US$22, an hour from August 17. The order, issued Tuesday, applies to drivers working for platforms such as UberEats and H…
US existing home sales fall 1.7% in July
US existing home sales fell 1.7 percent in July as high mortgage rates and concern about further rate increases weighed on buying, National Association of Realtors data showed Tuesday. Sales of previously owned homes dropped month on month to a seasonally adj…
Brazil inflation returns to target before election
Brazil's inflation returned to the government's target range in July, helped by lower food and fuel prices, official data showed Tuesday. The IBGE statistics agency said annual inflation eased to 4.44 percent in July. That put inflation inside the government'…
Singapore raises 2026 growth forecast on AI demand
Singapore raised its forecast for 2026 economic growth on Tuesday, saying global demand linked to artificial intelligence was boosting activity. Gross domestic product is now expected to expand by 4.5% to 5.5% year on year in 2026, up from an earlier forecast…
Jones Act waiver extended for US energy shipments
President Donald Trump on Monday extended for 90 days a waiver allowing foreign ships to carry oil and other commodities between US ports, with the renewed relief focused more narrowly on energy transport. The extension came shortly before an earlier waiver w…
China imposes pecan levies on US and Mexico
China will impose new levies on pecans imported from the United States and Mexico after a preliminary anti-dumping ruling, the Chinese commerce ministry said Monday. The measures take effect Tuesday. Pecans from Mexican producers will face levies of 17.8 perc…
China inflation slows to 0.5% in July, below forecast
China's consumer inflation slowed to 0.5% year on year in July, official data showed Sunday, coming in below a 0.8% forecast in a Bloomberg survey. The National Bureau of Statistics figure was the slowest rise since January. China's producer price index, whic…
France corn crop forecast to fall 35% to 1980 low
France's corn harvest is forecast to fall 35 percent this year to nine million tons, a level last seen in 1980, the government said Friday. The agriculture ministry's statistics department said the new forecast takes into account heatwaves that hit the crop d…
Canada adds 75,000 jobs, unemployment falls to 6.4%
Canada added 75,000 jobs in July and its unemployment rate fell to 6.4 percent, Statistics Canada data showed Friday, as the economy faces U.S. tariffs. Statistics Canada said hiring was split between full-time and part-time work and was spread across industr…
US jobs fall by 23,000 as jobless rate slips to 4.1%
The United States lost 23,000 jobs in July, while the unemployment rate ticked down to 4.1%, government data showed on Friday. The US Bureau of Labor Statistics also revised job growth in the previous two months down by 103,000, showing a weaker labour market…
German exports rise as industry edges up in June
German exports and industrial production rose in June, the statistics office Destatis said Friday, while analysts warned that the Mideast war and low Rhine water levels could still weigh on the economy. Exports increased 0.9 percent to 139.3 billion euros, th…
China exports rise 23.9% amid AI tech demand
China's exports rose 23.9 percent year on year in July and imports rose 27.5 percent, the General Administration of Customs said Friday, extending a trade boom amid global demand for technology products linked to artificial intelligence. The export rise was a…
China exports rise 23.9% in July, imports up 27.5%
China's exports rose 23.9% year on year in July and imports increased 27.5%, the General Administration of Customs said on Friday. The July import gain was below a 36% increase in June. Customs data also showed overseas shipments of computers and related part…
Polysilicon products face 15% US tariff
US President Donald Trump signed an order on August 6 setting a 15 percent tariff on products made using polysilicon, a key material for solar panels and semiconductors. The tariff is due to start on December 4. The order also sets minimum import prices for p…
Syria says wheat self-sufficient for first time since 2010
Syria says it will not need wheat imports this season after reaching self-sufficiency in wheat production for the first time since 2010. Ahmed Qadoun, deputy general director of the Syrian Grain Establishment, told AFP on Thursday that there would be no need…
Iran inflation hits 66% as war squeezes households
Iranian households are making sharper trade-offs over food, transport, classes and healthcare as five months of war with the United States add pressure to an economy already hit by sanctions and currency weakness. Inflation reached 66 percent in the year endi…
German industrial orders rise 3.1% as risks mount
German industrial orders rose 3.1% in June from the previous month, the statistics office Destatis said Thursday, but analysts warned that low river levels and the Mideast war could weigh on the outlook. The increase was above the 1% rise expected in an analy…
Romania faces EU’s highest inflation as prices bite
Romania is facing the European Union's highest inflation, with rising food, fuel and electricity costs forcing households and businesses to cut spending. Inflation reached 11 percent in May before slipping to 10.4 percent in June, still the highest rate in th…
Trump tariff refunds reach about $100 billion
The US government has refunded about $100 billion to importers who paid Trump administration tariffs later struck down by the Supreme Court, court filings show. The amount is about 60 percent of roughly $166 billion collected after President Donald Trump invo…
Fly Baghdad sanctions lifted by US Treasury
The US Treasury lifted sanctions on Iraq's Fly Baghdad airline and two of its aircraft on Wednesday, while keeping sanctions on Basheer Abdulkadhim Alwan al-Shabbani, a man previously identified as the company's owner. Washington had designated the airline, i…
US services activity edges up in July, ISM says
US services-sector activity rose slightly in July, with the Institute for Supply Management's services index up 0.1 percentage point to 54.1 percent, ISM said Wednesday. ISM said new orders and business activity increased during the month, while its employmen…
US private hiring slows to 44,000 jobs in July
US private-sector employers added 44,000 jobs in July, payroll firm ADP said Wednesday, pointing to slower hiring before the US government's official employment report due Friday. ADP said leisure and hospitality employers cut 11,000 jobs, while trade, transp…
China limits drone exports to US, blacklists six firms
China announced restrictions on drone exports to the United States and blacklisted six US businesses on Wednesday in response to trade sanctions imposed by Washington over forced labour and national security concerns. A Chinese Commerce Ministry spokesperson…
Indonesia GDP growth slows to 5.3% in second quarter
Indonesia's economy grew 5.3 percent in April-June, official data released Wednesday showed, slowing from 5.6 percent in the previous quarter while household and government spending rose. The second-quarter figure was above the 5.1 percent projected in a Bloo…
Bangladesh garment factory closures reach 400, group says
Bangladesh's garment industry has seen about 400 of its roughly 4,000 apparel factories shut over the past two years, eliminating tens of thousands of jobs, the Bangladesh Garment Manufacturers and Exporters Association said. The closures and layoffs reflect…
IMF agrees technical assistance program for Syria
The International Monetary Fund said on Tuesday it had agreed a wide-ranging technical assistance program for Syria, where the new government is trying to rebuild the economy after more than a decade of civil war. An IMF team made a five-day trip to Damascus…
Italian lottery ticket worth €1m found in trash
A €1 million lottery ticket was recovered from a garbage truck in Italy after the winner realised it had been thrown away and asked waste workers for help. Roberto Nicola Toscano, administrator of the SANB waste management company in southern Puglia, said the…
US trade deficit narrows to $73.3bn in June
The US trade deficit narrowed to $73.3 billion in June, government data showed Tuesday, as imports fell more than exports from the previous month. The overall trade gap was down 5.6% from May. Imports fell by $7.3 billion to $388 billion, while exports droppe…
US factory activity hits four-year high in July
US manufacturing activity grew faster in July, with the Institute of Supply Management's manufacturing index reaching a four-year high despite continued uncertainty over prices and the war in the Middle East. ISM said Monday that its manufacturing index rose…