Astech World Business News – Astech World Business News

Euro zone’s economy grew 0.3% in second quarter, above expectations despite German contraction

The euro zone’s economy grew by more than expected in the second quarter of 2024, flash figures from the European Union’s statistics office showed Tuesday.

Fed’s key inflation gauge rose 2.5% in June from a year ago, in line with expectations

The PCE price index was expected to increase 0.1% in June and 2.5% from a year ago.

U.S. economy grew at a 2.8% pace in the second quarter, much more than expected

Gross domestic product in the second quarter was expected to show a 2.1% annualized increase.

Why an indicator that has foretold almost every recession doesn’t seem to be working anymore

The situation has many on Wall Street scratching their heads about why the inverted curve has been so wrong this time

How Biden’s unpopular economic record could be a challenge for Kamala Harris

As the frontrunner for the Democratic party’s nomination, Kamala Harris will have to run, for better or worse, on President Joe Biden’s economic record.

Wealth in Turkey grew the most in the world at 157% despite soaring inflation, according to ranking

For Turks who own assets like homes, wealth has grown as inflation pushes the costs of those assets up.

UK inflation holds steady at Bank of England’s 2% target, above expectations

The Office for National Statistics released inflation figures for June on Wednesday.

Trump says he would let Fed Chair Powell finish his term if he wins in November, Bloomberg reports

Former President Donald Trump told Bloomberg Businessweek that he would let Fed chief Jerome Powell complete his term if he wins in November.

IMF sees ‘bumps’ in path to lower inflation

Stubborn services and wage inflation will slow the pace of disinflation in the U.S. and globally, according to the IMF.

IMF upgrades UK growth forecast in another boost to new Labour government

The upgrades come after two years of stagnation, with the U.K. falling into a shallow recession in the second half of 2023.