📈 Weekly Economic Roundup: Key Insights from September 2024 🌍

Weekly Economic Roundup: Key Insights from September 2024 🌍

As we dive into this week’s economic highlights, we see a mix of trends and shifts across global markets.

🌐 Global Highlights

• The US Federal Reserve has made a significant move, cutting rates by 50 basis points to a range of 4.75%-5%. This marks the first reduction since March 2020, with forecasts indicating more easing ahead. 📉
• In the US, building permits soared by 4.9% in August, hitting a five-month high, while retail sales defied expectations with a modest 0.1% increase. Consumer sentiment also saw a positive bump, reaching its highest level since May. 🏗️🛍️
• China’s industrial production grew by 4.5% year-on-year, but this fell short of expectations. Meanwhile, Germany’s economic sentiment plummeted, marking the lowest point since October 2023. 📉🇩🇪
• Japan’s trade deficit narrowed in August, but not as much as anticipated, highlighting ongoing economic challenges. 🇯🇵

🇺🇸 United States: A Closer Look

• The Fed’s new forecasts suggest 100 basis points of additional cuts by year-end, with inflation expectations revised lower to 2.3% in 2024. Despite the positive retail sales data, consumer sentiment remains cautious, particularly regarding labor market views. 💼📊
• Factory gate prices rose by 0.2% month-on-month, indicating mixed impacts on goods and services, as core CPI also saw a slight increase. 📈

🇦🇺 Australia: Inflation Trends

• In Australia, inflation expectations dipped slightly to 4.4% as the Reserve Bank continues to evaluate its monetary policy. The headline inflation rate increased to 3.8% in Q2, underscoring ongoing challenges in maintaining price stability. 📉💵

🇨🇳 China: Economic Slowdown

• Despite a year-on-year increase in industrial production, China’s growth missed expectations, highlighting the impact of extreme weather on economic activities. Retail sales growth also slowed, reflecting broader economic headwinds. 🌧️🏪

🇩🇪 Germany: Sentiment Decline

• The ZEW economic sentiment index in Germany fell sharply to 3.6, reflecting a fading optimism regarding economic recovery. This decline has been consistent over the past few months, with expectations now more evenly balanced between optimism and pessimism. 📉

📅 Upcoming Events

Looking ahead, key events this week include:

• Japan’s Inflation Rate and BoJ Interest Rate Decision on September 20th.
• UK Retail Sales data on September 20th.
• Australia’s Interest Rate announcement on September 24th. 📆

As we continue to monitor these developments, the coming weeks will be crucial in shaping the economic landscape. Stay tuned for more insights in our next weekly roundup! 📊✨

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