Economy

Many Chinese developers have halted or delayed construction on presold homes due to cash flow problems. Pictured here is a property construction site in Jiangsu province, China, on Oct. 17, 2022. Future Publishing | Future Publishing | Getty Images China’s economy is sputtering. Its property market is crumbling, deflationary pressures are spreading across the nation,

People shop in a supermarket in the Manhattan borough of New York city on January 27, 2024. Charly Triballeau | AFP | Getty Images The prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday. Updates to the consumer price index

A tram passes shoppers as it travels along Istiklal Street in the Beyoglu district of Istanbul, Turkey, on Tuesday, Dec. 19, 2023. Bloomberg | Bloomberg | Getty Images In January, Turkish inflation logged its biggest monthly jump since August with a 6.7% rise from December, while year-on-year inflation hit nearly 65%, according to the Turkish

A mosaic collection of world currencies. FrankvandenBergh | E+ | Getty Images The world is looking at a debt crisis that will span the next 10 years and it’s not going to end well, economist Arthur Laffer has warned, with global borrowings hitting a record of $307.4 trillion last September.  Both high-income countries as well

Adam Gault | OJO Images | Getty Images Credit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Federal Reserve reported Tuesday. Debt that has transitioned into “serious delinquency,” or 90 days or more past due, increased across multiple categories during the year, but none

Elevated shipping costs as a result of ongoing tensions in the Red Sea could impede the global fight against inflation, the Organisation for Economic Co-operation and Development said Monday. The Paris-based group estimates that the recent 100% rise in seaborne freight rates could increase import price inflation across its 38 member countries by nearly 5

Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024.  Emin Sansar | Anadolu | Getty Images Turkey’s newly appointed central bank governor Fatih Karahan has his work cut out for him, named to the job by presidential decree over the weekend after the sudden resignation of

Fs Productions | Tetra Images | Getty Images Black men lost ground in the workforce last month, marking a continuation of the disparities that have permeated the U.S. labor market. Black males who were at least 20 years old saw an unemployment rate of 5.3% in January, up from 4.6% in December, according to seasonally

Job growth posted a surprisingly strong increase in January, demonstrating again that the U.S. labor market is solid and poised to support broader economic growth. Nonfarm payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate held

Patrons at sidewalk tables of Janis bar in Cais do Sodre in Lisbon, Portugal. Horacio Villalobos | Corbis News | Getty Images Euro zone headline inflation eased slightly in January, flash figures published by the European Union’s statistics agency showed Thursday, while core figures declined less than expected. Annual headline price rises came in at

A UPS driver makes a delivery on January 30, 2024 in Miami Beach, Florida.  Joe Raedle | Getty Images Companies announced the highest level of job cuts in January since early 2023, a potential trouble spot for a labor market that will be in sharp focus this year, according to a report Thursday from Challenger,

Cargo trains stand on the railway tracks at a transshipment station in Frankfurt am Main, western Germany, as in background can be seen the city’s skyline, on January 23, 2024. Kirill Kudryavtsev | Afp | Getty Images The euro zone economy stabilized in the fourth quarter of 2023, flash figures published by the European Union’s

Private payroll growth declined sharply in January, a possible sign that the U.S. labor market is heading for a slowdown this year, ADP reported Wednesday. Companies added 107,000 workers in the first month of 2024, off from the downwardly revised 158,000 in December and below the Dow Jones estimate for 150,000, according to the payrolls

British Finance Minister Jeremy Hunt said earlier this month the U.K. would not enter a recession this year. Hannah Mckay | Reuters LONDON — The U.K. government should not introduce further tax cuts this year, the International Monetary Fund said Tuesday, as its chief economist argued the national budget needed the money for public services

Buildings in Pudong’s Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024.  Bloomberg | Bloomberg | Getty Images The International Monetary Fund on Tuesday nudged its global growth forecast higher, citing the unexpected strength of the U.S. economy and fiscal support measures in China. It now sees global growth in 2024 at 3.1%,

Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023. Bloomberg | Bloomberg | Getty Images Turkey’s central bank on Thursday hiked its key interest rate by another 250 basis points to 45%. The hike to the benchmark one-week repo rate was in line with economists’ expectations.

People walk by sale signs in the Financial District on the first day back for the New York Stock Exchange (NYSE) since the Christmas holiday on December 26, 2023 in New York City. Spencer Platt | Getty Images An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came

European Central Bank President Christine Lagarde looks on as she attends the European Parliament’s Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023.  Yves Herman | Reuters President Christine Lagarde on Thursday said she was “proud and honored” to leead the European Central Bank, after her leadership was