The UK economy grew by more than first thought in the fourth quarter of 2022, according to revised official data confirming the country avoided a recession last year. Economists had previously said the economy saw zero growth between October and December, indicating the UK had very narrowly avoided a recession. But revised figures released by…
UK Economy Grew Slightly to Avoid Recession in 2022, Revised Official Data Shows
World Bank Says Economic Recoveries in East Asia Are Losing Steam
March 31, 2023
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The World Bank said that Asian economies are beginning to lose steam after making a recovery from the pandemic. The smaller economies in East Asia, which have largely regained their pandemic-era losses, are now facing a stalled recovery as productivity begins to lag, according to a World Bank report from March 31. Across the Asia-Pacific…
Shares and Bonds Ride High After Soothing Eurozone Data
March 31, 2023
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LONDON—Share markets pushed for a fifth straight day of gains on Friday and bonds headed for their best month since 2008, as a record monthly drop in the eurozone’s inflation rate raised investors’ expectations for similar U.S. data later in the day. With an action-packed first quarter also drawing to a close world stocks were…
Euro Rises as Eurozone Countries Report Inflation Data
LONDON/SINGAPORE—The euro was set for its best week since mid January on Friday ahead of inflation data that will shape the ECB’s interest rate plans, while investor expectations U.S. rates are near peaking meant the dollar headed for a second consecutive quarterly loss. The European common currency was at $1.0883, down 0.2 percent on the…
Oil Dips, Set for Monthly Drop, Ahead of Key US Inflation Data
March 31, 2023
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LONDON—Oil prices dipped on Friday, with benchmarks heading for their weakest monthly performances since November, ahead of key U.S. inflation data which could give clues on future interest rate moves and the strength of the dollar. Brent futures, which have risen nearly 5 percent this week, were down 63 cents, or 0.8 percent, at $78.64…
More Americans File for Jobless Claims; Layoffs Remain Low
March 30, 2023
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U.S. applications for jobless benefits rose last week but remain at historically low levels despite efforts by the Federal Reserve to cool the economy and the job market in its fight against inflation. Jobless claims in the U.S. for the week ending March 25 rose by 7,000 to 198,000 from the previous week, the Labor…
Euro, Dollar Steady as Bank Fears Recede, Inflation in Focus
LONDON—The U.S. dollar and euro steadied on Thursday as concerns over the banking sector receded, while investors switched focus to inflation for more hints on central banks’ next rate moves. Inflation data from German states, used to calculate a preliminary inflation figure for the eurozone’s largest economy due at 1200 GMT, have started to come…
Oil Rises on US Crude Draw, Iraqi Supply Risks
March 30, 2023
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LONDON—Oil prices rose on Thursday on a surprise drop in U.S. crude stockpiles and a halt in exports from Iraq’s Kurdistan region. Brent crude futures rose 40 cents, or 0.51 percent, to $78.68 a barrel at 0926 GMT, while West Texas Intermediate crude rose 52 cents, or 0.71 percent, to $73.49 a barrel. U.S. crude…
Stocks Firmer as Investors Bet Banking Crisis Is Behind Them
March 30, 2023
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LONDON—A steadier tone in global stocks continued on Thursday as investors hoped the banking sector had turned a corner on its recent turmoil to help markets end the quarter on a positive note. The dollar and crude oil prices were stable, with calmer markets allowing investors to focus more on the economy, as Spanish inflation…
Shares Rise as Bank Support Emboldens Investors
March 29, 2023
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LONDON—Global shares rose on Wednesday, as investors took heart from a greater degree of stability in the banking sector, but the sense of optimism wasn’t robust enough to severely knock safe-haven assets like bonds or gold. Meanwhile, shares in Asia rallied on Wednesday after Chinese conglomerate Alibaba’s plans to split into six units lifted tech…
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