THE latest data from China indicates that the second-largest economy in the world is facing difficulties in gaining momentum, reports Bloomberg.
In Germany, there was a decline in orders placed with manufacturers, indicating a lack of progress in the largest economy in Europe.
At the same time, consumers in the eurozone have become more optimistic about the inflation outlook that contributes to the ongoing discussion on the duration of interest rate increases.
Following the agreement among US lawmakers to suspend the debt limit, the Treasury anticipates a significant increase in its cash reserves by the end of the month.
China's economic recovery has shown further signs of weakening in May, raising concerns about the outlook for the rest of the year.
This has led to calls for additional stimulus from the central bank. Recent trade figures indicate a decline in exports and imports compared to the previous year, signaling subdued global and domestic demand.
Foreign tourists in Japan are helping the country emerge from a recession, as their spending power contributes to increased wages and prices in the hospitality sector.
Despite China's increasing presence in the region, Russia has remained Kazakhstan's largest trading partner for over three decades since the collapse of the Soviet Union.
However, with the imposition of financial and economic sanctions on Russia, trade flows are shifting, creating an opportunity for China.
Consumer expectations for inflation in the eurozone have eased significantly in April, further supporting the European Central Bank's decision to raise interest rates during the summer.
German factory orders unexpectedly decreased in April, which adds to concerns about Europe's largest economy following its recent recession.
Contrary to expectations, the Bank of Canada has resumed its campaign to raise interest rates, citing an overheating economy. The overnight lending rate has been raised to 4.75 per cent, the highest level since 2001.
The US service sector experienced a slowdown in May, with reduced business activity and orders, along with a decline in the measure of prices paid to a three-year low.
The US Treasury expects its cash reserves, which have already shown signs of recovery after the debt limit suspension, to reach around $425 billion by the end of June.
The major shipping gateways on the US west coast are facing the longest labour-related disruptions since 2015, as contract negotiations between port employers and dockers have lasted nearly a year.
The dispute revolves around the distribution of carriers' profits during Covid, despite the market experiencing rock-bottom freight rates.
Brazil's annual inflation has slowed down more than anticipated in May, reaching its lowest level in two and a half years. This puts pressure on the central bank to implement monetary policy easing in the coming months.
Saudi Arabia's decision to reduce oil production by 10 per cent may have significant financial implications.
The move to lower crude output to nine million barrels per day has not had a significant impact on prices. Energy Minister Prince Abdulaziz bin Salman referred to the decision as a 'lollipop' for other members of the producers' cartel after the OPEC+ meeting.
According to the World Bank, the global economy is in a precarious state and is expected to experience a substantial growth slowdown due to sharp increases in interest rates, which are affecting the activity and exposing vulnerabilities in lower-income countries.
Australia's central bank unexpectedly raised its key interest rate and left open the possibility of further hikes. The Bank of Canada was also surprised by rising rates, while Poland, India, Peru and Russia maintained rates unchanged.
SeaNews Turkey
In Germany, there was a decline in orders placed with manufacturers, indicating a lack of progress in the largest economy in Europe.
At the same time, consumers in the eurozone have become more optimistic about the inflation outlook that contributes to the ongoing discussion on the duration of interest rate increases.
Following the agreement among US lawmakers to suspend the debt limit, the Treasury anticipates a significant increase in its cash reserves by the end of the month.
China's economic recovery has shown further signs of weakening in May, raising concerns about the outlook for the rest of the year.
This has led to calls for additional stimulus from the central bank. Recent trade figures indicate a decline in exports and imports compared to the previous year, signaling subdued global and domestic demand.
Foreign tourists in Japan are helping the country emerge from a recession, as their spending power contributes to increased wages and prices in the hospitality sector.
Despite China's increasing presence in the region, Russia has remained Kazakhstan's largest trading partner for over three decades since the collapse of the Soviet Union.
However, with the imposition of financial and economic sanctions on Russia, trade flows are shifting, creating an opportunity for China.
Consumer expectations for inflation in the eurozone have eased significantly in April, further supporting the European Central Bank's decision to raise interest rates during the summer.
German factory orders unexpectedly decreased in April, which adds to concerns about Europe's largest economy following its recent recession.
Contrary to expectations, the Bank of Canada has resumed its campaign to raise interest rates, citing an overheating economy. The overnight lending rate has been raised to 4.75 per cent, the highest level since 2001.
The US service sector experienced a slowdown in May, with reduced business activity and orders, along with a decline in the measure of prices paid to a three-year low.
The US Treasury expects its cash reserves, which have already shown signs of recovery after the debt limit suspension, to reach around $425 billion by the end of June.
The major shipping gateways on the US west coast are facing the longest labour-related disruptions since 2015, as contract negotiations between port employers and dockers have lasted nearly a year.
The dispute revolves around the distribution of carriers' profits during Covid, despite the market experiencing rock-bottom freight rates.
Brazil's annual inflation has slowed down more than anticipated in May, reaching its lowest level in two and a half years. This puts pressure on the central bank to implement monetary policy easing in the coming months.
Saudi Arabia's decision to reduce oil production by 10 per cent may have significant financial implications.
The move to lower crude output to nine million barrels per day has not had a significant impact on prices. Energy Minister Prince Abdulaziz bin Salman referred to the decision as a 'lollipop' for other members of the producers' cartel after the OPEC+ meeting.
According to the World Bank, the global economy is in a precarious state and is expected to experience a substantial growth slowdown due to sharp increases in interest rates, which are affecting the activity and exposing vulnerabilities in lower-income countries.
Australia's central bank unexpectedly raised its key interest rate and left open the possibility of further hikes. The Bank of Canada was also surprised by rising rates, while Poland, India, Peru and Russia maintained rates unchanged.
SeaNews Turkey
