The American economy contracted by 0.2 percent in 2025’s first quarter, compared to 2.4 percent growth in 2024’s final three months. It was the first quarterly contraction since 2022.
Tag: inflation
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JAPAN’S INFLATION RATE RISES TO 27-MONTH HIGH
In April, Japan’s core inflation rate reached 3.5 percent, its highest since January 2023, as rice prices shot to record heights across the country.
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CONSUMERS’ OUTLOOK FALLS TO SECOND-LOWEST IN SURVEY’S HISTORY
Consumers’ gloom deepened for a fifth consecutive month in the University of Michigan’s preliminary May survey of households’ financial outlook.
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BANK OF ENGLAND CUTS INTEREST RATE FOR A FOURTH TIME
On 8 May, the Bank of England (BoE) cut its policy interest rate from 4.5 percent to 4.25 percent, the fourth reduction in the rate-setting committee’s last seven meetings.
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FED HELD RATES STEADY AS IT BRACES FOR TARIFFS’ IMPACT
The U.S. Federal Reserve left its key interest rates unchanged at last week’s meeting and warned that risks are rising that Donald Trump’s tariff campaign will raise prices and eliminate jobs.
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BIG OIL FACES A THIRD YEAR OF LOWERED PROFITS
After falling from 2022 through 2024, oil majors’ revenues and profits are poised to mark a third 12-month period of disappointment.
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U.S. ECONOMY ADDS 177,000 JOBS IN APRIL
U.S. employers took on an additional 177,000 nonfarm workers last month, signaling “a healthy state of balance” in the labor market, The Wall Street Journal said. The unemployment rate held steady at 4.2 percent.
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COLGATE-PALMOLIVE PARES BACK ITS 2025 FORECAST
Colgate-Palmolive, which makes hundreds of consumer products from pet foods to Ajax cleanser, has cut its sales growth outlook from 3 to 5 percent this year to 2 to 4 percent. Profits will be flat, CEO Noel Wallace said in a 25 April earnings call.
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AMERICANS FEAR GOING BROKE MORE THAN DYING
Sixty-four percent of Americans are more afraid of running out of money than of dying, according to a new survey by Allianz Life.
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42 PERCENT OF YOUNG AMERICANS ARE IN A FINANCIAL STRUGGLE
Among Americans under age 30, 42 percent report they are either “getting by with limited security” or “struggling to make ends meet,” according to a new survey by Harvard University’s Institute of Politics.