The economy grew at a much more rapid pace than expected in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable, the Commerce Department reported Thursday.Gross domestic product, a measure of all the goods and services produced, increased...
Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023.Bloomberg | Bloomberg | Getty ImagesTurkey'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...
Consumers shop in Rosemead, California, on Dec. 12, 2023.Frederic J. Brown | Afp | Getty ImagesEconomic growth likely slowed to its weakest pace in a year and a half to end 2023, possibly setting the stage for a more pronounced slowdown ahead, according to Wall Street economists.The consensus outlook...
BEIJNG, CHINA - NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images)Vcg | Visual China Group | Getty ImagesDeflation may soon start biting into Chinese growth, as Beijing looks at another three...
Jim Dyson | Getty Images News | Getty ImagesThe global economy does not need a "collapse" in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth.Major economies have proven surprisingly resilient to...
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2024. Brendan Mcdermid | ReutersMarkets have become less convinced that the Federal Reserve is ready to press the button on interest rate cuts, an issue that cuts at the heart of...
An employer representative at a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. The Department of Labor is scheduled to release initial jobless claims figures on January 11. Eric Thayer | Bloomberg | Getty ImagesConsumers have grown more confident about the direction of...
Shoppers walk past shops on Regent Street on the final weekday before Christmas in London on December 22, 2023. Britain's economy unexpectedly shrank in the third quarter and flatlined in the previous three months, official data showed Friday, raising fears of a recession before an election due next year....
Raphael Bostic at Jackson Hole, WyomingDavid A. Grogan | CNBCAtlanta Federal Reserve President Raphael Bostic expects policymakers to start cutting rates in the third quarter of this year, saying Thursday that inflation is well on its way back to the central bank's goal.Bostic, a voting member this year on...
A networking and hiring event for professionals of color in Minneapolis, MN. Michael Siluk | Getty ImagesThe labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week.Initial filings for unemployment insurance totaled 187,000 for the week ended...