China's Crisis of Confidence in Six Charts
Chinese households are losing faith in the nation’s future. Unless Beijing can reassure them, they could drag down the entire economy. Source link
recession
Bank of Korea Stands Pat; Keeps 2023 Growth, Inflation Forecasts
South Korea’s central bank stood pat on interest rates for a fifth straight time as widely expected and maintained its 2023 economic growth and inflation forecasts. The Bank of Korea kept the benchmark seven-day repurchase rate unchanged at 3.50% on Thursday, continuing a pause in its policy tightening amid signs that the economy is cooling, … Read more
Retail spending fell in March as consumers pull back
Washington, DC CNN — Spending at US retailers fell in March as consumers pulled back after the banking crisis fueled recession fears. Retail sales, which are adjusted for seasonality but not for inflation, fell by 1% in March from the prior month, the Commerce Department reported on Friday. That was steeper than an expected 0.4% … Read more