Economy Global

U.S. retail sales unexpectedly rose in August by 2.1% year-on-year, suggesting that the economy remained resilient through much of the third quarter. Retail sales increased 0.1% month-on-month after an upwardly revised 1.1% surge in July, the Commerce Department’s Census Bureau recently revealed. Read more: https://lnkd.in/dXVdgQYG #US #UnitedStates #Retail #Sales #Economy

The Biden-Harris Administration recently announced that it awarded Intel Corporation up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program. The program seeks to expand the trusted manufacturing of leading-edge semiconductors for the U.S. government. Read more: https://lnkd.in/dT3EbTRk #US #Chips #semiconductor #technology #investment #manufacturing

The two-day meeting of the US Federal Reserve will end on Wednesday, lifting the suspense on the much-awaited interest rate changes. For weeks now, markets have been anticipating a reduction in interest rates, even though the magnitude remains uncertain. While many anticipate a more conservative 25 basis point cut, some analysts say they won’t be surprised by a 50 bps reduction. Read more: https://lnkd.in/d2_F-uaT #FederalReserve #Interestrates #economy

China’s industrial output continued to show steady growth in August, driven by emerging growth sectors and robust exports. According to official data released by the National Bureau of Statistics (NBS), the country’s value-added industrial output, a key economic indicator, increased by 4.5% year-on-year in August. Month-over-month, industrial output rose by 0.32% from July. Read more: https://lnkd.in/gr6ZSNJf #China #Trade #exports #economy #logistics

In the first eight months of 2024 (January to August), China saw the establishment of 36,968 new foreign-invested enterprises, reflecting an 11.5% increase compared to the previous year, as reported by the country’s Ministry of Commerce and cited by Xinhua. Read more: https://lnkd.in/dye3br_k #China #FDI #Investments #Economics

U.S. consumer sentiment rose to a four-month high in September as inflation expectations signaled a positive outlook for price pressures in the next year. Preliminary results from the University of Michigan‘s consumer survey revealed that the index of consumer sentiment rose 1.1 points to 69.0 in September, from 67.9 in August, the highest since May. Read more: https://lnkd.in/dcMVud2U #US #UnitedStates #consumer #economy #economynews

The Russian central bank increased its key interest rate by 1% to 19% on Friday, due to persistent high inflation and robust domestic demand. This figure is just shy of the record high of 20% that was recorded immediately after Russia’s full-scale invasion of Ukraine. This adjustment represents the second consecutive hike following a period from late 2023 to the end of July 2024, during which the rate was maintained at 16%. Read more: https://lnkd.in/dUwaH6iS #Russia #Interestrate #banking #finance #inflation

The European Central Bank announced a quarter-point interest rate cut on Thursday, marking the second reduction to the deposit rate this year. This anticipated decision follows a period of lackluster economic growth within the euro zone and declining inflation, which approached the central bank’s 2% target in August. Read more: https://lnkd.in/d9KsJQkB #Europe #Interestrates #Centralbank #eurozone #finance

India has announced plans to establish a nationwide registry of suspected cyber criminals and to train approximately 5,000 “cyber commandos” to combat cybercrime over the next five years. Home Minister Amit Shah stated that this national suspect registry will play a crucial role in preventing future cybercrimes. He made these comments during a ceremony marking the first foundation day of the Indian Cybercrime Coordination Centre (I4C), which serves as a national hub for addressing all cybercrime-related issues in the country. Read more: https://lnkd.in/dDKrwcSE #India #Cybersecurity #cybercrime #technology #technews

Amazon’s cloud computing arm, Amazon Web Services, plans to invest £8 billion ($10.45 billion) in the U.K. over the next five years to build, operate and maintain data centers. This investment is part of the company’s long-term commitment to supporting growth and productivity across the country, and is estimated to contribute £14 billion ($18.32 billion) to the U.K.’s total gross domestic product (GDP) until 2028. Amazon’s investment will also support an average of more than 14,000 full-time jobs annually at local U.K. businesses. Read more: https://lnkd.in/duCPSpet #Amazon #uk #unitedkingdom #technology #investment #cloud