Weekly Economic Roundup: Key Insights from September 2024 🌍

πŸ“ˆ 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. πŸ“‰
  • 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. πŸ—οΈπŸ›οΈ
  • 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. πŸ“‰πŸ‡©πŸ‡ͺ
  • Japan’s trade deficit narrowed in August, but not as much as anticipated, highlighting ongoing economic challenges. πŸ‡―πŸ‡΅

πŸ‡ΊπŸ‡Έ 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. πŸ’ΌπŸ“Š
  • 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. πŸ“ˆ

πŸ‡¦πŸ‡Ί 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. πŸ“‰πŸ’΅

πŸ‡¨πŸ‡³ 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. 🌧️πŸͺ

πŸ‡©πŸ‡ͺ 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. πŸ“‰

πŸ“… 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. πŸ“†

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! πŸ“Šβœ¨

  • Stay tuned for more updates on theΒ Tap-to-EarnΒ revolution! πŸŽ‰πŸš€

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