ECB picks three new senior supervisors

Reuters
China's factory activity rises at fastest pace in over 3 years, Caixin PMI shows
BEIJING (Reuters) -China's manufacturing activity grew at the fastest pace in more than three years due to production gains, even as demand growth slowed, a private sector survey showed on Monday, indicating the health of the sector remained robust. The Caixin/S&P Global manufacturing PMI rose to 51.8 in June from 51.7 in the previous month, marking the fastest clip since May 2021 and surpassing analysts' forecasts of 51.2.
Reuters
China's June factory activity contracts again, services slows
BEIJING (Reuters) -China's manufacturing activity fell for a second month in June while services activity slipped to a five-month low, an official survey showed on Sunday, keeping alive calls for further stimulus as the economy struggles to get back on its feet. The National Bureau of Statistics (NBS) purchasing managers' index (PMI), at 49.5 in June, was unchanged from May, below the 50-mark separating growth from contraction and in line with a median forecast of 49.5 in a Reuters poll. "Actual industrial activity should be stronger than the data suggests as our observation is that the official PMI fails to fully capture the current export momentum, which has been the major economic driver this year," said Xu Tianchen, senior economist at the Economist Intelligence Unit.
GOBankingRates
Trump Wants To Eliminate Income Taxes: Here’s What That Would Mean for the Economy and Your Wallet
Former president Donald Trump recently suggested that he is considering instituting a policy of tariffs that would lead to the elimination of the federal income tax. Check Out: Trump-Era Tax Cuts Are...
Investing.com
Japan GDP downgraded much more than initially expected in Q1
Investing.com-- The Japanese economy shrank more than initially expected in the first quarter, a government revision of gross domestic product data showed on Monday, indicating that the economy was much more fragile than initially expected.
GOBankingRates
I’m an Economist: Here Are My Predictions for Inflation If Biden Wins Again
Stubborn inflation has been hitting Americans at every level: From grocery prices to those of housing, high costs have placed an enormous toll on consumers. Thus, it came as no surprise that the...
The Telegraph
Economic tailwinds mean the next government will have no excuses
The timing of this week’s general election has seemed extraordinary ever since the date was first announced.
Insider Monkey
The Largest Economy in the World by 2075
We recently compiled a list of the Top 30 Largest Economies in the World by 2075 and in this article we will look at the country that’s expected to be the largest in 2075. Emerging Markets Projected to Lead by 2075 According to research by Goldman Sachs, the global potential growth is expected to slow, largely […]
Reuters
Japan downgrades Q1 GDP on construction data corrections
TOKYO (Reuters) -Japan's economy shrank more than initially reported in the first quarter, the government said in a rare unscheduled revision to gross domestic product (GDP) data on Monday, darkening prospects for a fragile recovery. The downward revision is likely to lead to a cut to the Bank of Japan's growth forecasts in fresh quarterly projections due later this month, and could affect the timing of its next interest rate hike, analysts say. Japan's real GDP shrank an annualised 2.9% in January-March, down from an earlier estimate of a 1.8% contraction, the revised data showed.
Reuters
Japan's shaky business mood, GDP downgrade cloud BOJ hike timing
TOKYO (Reuters) -The business mood in Japan's service-sector soured in June as the lower yen pushed costs higher, a quarterly central bank survey showed on Monday, offsetting a big lift in factory confidence and pointing to consumption weakness. A rare unscheduled downgrade to Japan's historical gross domestic product (GDP) data also showed the economy shrank more than reported in the first quarter, which will likely force the Bank of Japan (BOJ) to cut its growth forecasts later this month. The findings, which come ahead of the BOJ's next policy meeting on July 30-31, complicates its decision on how soon to raise interest rates, analysts say.
Investing.com
Asian stocks drift lower amid mixed China PMIs; rate uncertainty persists
Investing.com-- Most Asian stocks moved in a flat-to-low range on Monday as investors digested mixed cues on Chinese business activity, while uncertainty over U.S. interest rates remained in play.
Reuters
Euro rises after France's first-round vote, yen struggles
The euro rose on Monday after the first round of France's snap election put the far-right in pole position, though by a smaller margin than projected, while a downgrade to Japan's first-quarter growth figures knocked the yen lower. Marine Le Pen's far-right National Rally (RN) party won the first round of France's parliamentary elections on Sunday, exit polls showed, although analysts noted the party won a smaller share of the vote than some polls had initially projected. The euro, which has fallen some 0.8% since President Emmanuel Macron called the election on June 9, was last 0.24% higher at $1.0737, after having touched a more than one-week top of $1.0749 earlier in the session.
CNN Business
US employers want more part-time workers. Here’s what that means
Companies are becoming more fond of part timers these days.
GOBankingRates
I’m an Economist: Here Are My Predictions for the Job Market If Biden Wins Again
By all accounts, the 2024 presidential election will have major implications. If President Joe Biden wins again, it will have a big impact on jobs and the economy in the U.S. Biden and his team will...
The Telegraph
Labour will grow Britain’s economy by ending the chaos
We are at a crossroads as a nation. Do we want five more years of chaos and decline or stability and change that can build a brighter future? That is what is on the ballot paper at this general election and it is the choice Telegraph readers will have to make on Thursday.
Fortune
The U.S. deficit is nearly as big a Russia’s economy, and there’s a ‘vicious’ feedback loop that could make it worse
The CBO's new estimate for the fiscal 2024 deficit is now $1.9 trillion, up from its prior view for $1.6 trillion issued in February and up from the 2023 deficit of about $1.7 trillion.
Reuters
Asia's factory activity expands in June on solid global demand
Asia's factory activity expanded in June on solid momentum in the global economy and brightening prospects for semiconductor output, surveys showed on Monday, offering policymakers some hope the region can weather the hit from soft Chinese demand. But cost pressures weighed on manufacturers in countries like Japan, where the weak yen is boosting the price companies pay for fuel and raw material imports. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 51.8 in June from 51.7 in May, a private survey showed on Monday, remaining above the break-even line of 50.0 that separates growth from contraction.
Reuters
BIS sends government debt warning before important elections
LONDON (Reuters) -The Bank for International Settlements warned on Sunday that rising government debt levels amid a number of major elections this year could roil global financial markets. Dubbed the central bankers' central bank, the BIS said the world economy was on course for the "smooth landing" that many economists doubted when interest rates shot up, but said policymakers, especially politicians, needed to be careful. Global government debt is already at record levels and elections ranging from the U.S. presidential vote in November, through recent polls in Mexico and South Africa, to votes in France and Britain in the coming week, all carry risks.
Insider Monkey
The U.S. State with the Fastest-Growing Economy
In this article, we will take a look at the U.S. State with the Fastest-Growing Economy. We have also compiled a full free list of the 20 U.S. States with the Fastest-Growing Economies. Navigating Global Economic Challenges Post-COVID-19: Insights and Trends Post the COVID-19 pandemic, the global economy is currently in a recovery phase after […]
BBC
UK economy grew more than estimated in early 2024
Revised figures show the economy grew by 0.7% between January and March this year.
Reuters
Asia stocks stutter, euro rises after first round vote in France
SINGAPORE (Reuters) -Asian stocks were subdued on Monday as traders pondered the U.S rates outlook, while the euro rose after the first-round voting in France's shock snap election was won by the far-right, albeit with a smaller share than some polls had projected. The shock vote has unsettled markets as the far-right, as well as the left-wing alliance that came second on Sunday, have pledged big spending increases at a time when France's high budget deficit has prompted the EU to recommend disciplinary steps. On Monday, the euro was 0.32% higher, while European stock futures rose 1% and French OAT bond futures gained 0.15% as investors digested the better than feared results, although uncertainty remained.

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ECB picks three new senior supervisors

Latest stories

China's factory activity rises at fastest pace in over 3 years, Caixin PMI shows

China's June factory activity contracts again, services slows

Trump Wants To Eliminate Income Taxes: Here’s What That Would Mean for the Economy and Your Wallet

Japan GDP downgraded much more than initially expected in Q1

I’m an Economist: Here Are My Predictions for Inflation If Biden Wins Again

Economic tailwinds mean the next government will have no excuses

The Largest Economy in the World by 2075

Japan downgrades Q1 GDP on construction data corrections

Japan's shaky business mood, GDP downgrade cloud BOJ hike timing

Asian stocks drift lower amid mixed China PMIs; rate uncertainty persists

Euro rises after France's first-round vote, yen struggles

US employers want more part-time workers. Here’s what that means

I’m an Economist: Here Are My Predictions for the Job Market If Biden Wins Again

Labour will grow Britain’s economy by ending the chaos

The U.S. deficit is nearly as big a Russia’s economy, and there’s a ‘vicious’ feedback loop that could make it worse

Asia's factory activity expands in June on solid global demand

BIS sends government debt warning before important elections

The U.S. State with the Fastest-Growing Economy

UK economy grew more than estimated in early 2024

Asia stocks stutter, euro rises after first round vote in France