Economic News
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Inflation drops again in the European Union countries that use the euro currency but still hits painful 8.5%
Inflation drops again in the European Union countries that use the euro currency but still hits painful 8.5%
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South Korea logs record trade deficit as tech demand falls
South Korea has logged its biggest monthly trade deficit ever, at $12.7 billion in January, as exports of computer chips and other high-tech items sank and costs for importing oil and gas surged
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Asian stocks higher ahead of Fed rate decision
Asian stock markets are higher after Wall Street rose ahead of what traders hope will be the last Federal Reserve interest rate hike for some time
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US consumer confidence lags as 2023 gets under way
American consumers are kicking off 2023 slightly less confident than they were at the end of last year as inflation and a potential recession continue to weigh on them
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GM quarterly profit jumps 16% as sales rebound late in 2022
Rising factory output led to strong U.S. sales at the end of last year, pushing General Motors’ fourth-quarter net income up 16% over the same period a year ago
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US wage growth slowed in the final quarter of 2022
Pay and benefits for America’s workers grew at a healthy but more gradual pace in the final three months of 2022, the third straight slowdown that could help reassure the Federal Reserve that wage gains won’t fuel higher inflation
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Europe scrapes out economic growth by dodging gas disaster
Europe’s economy has scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants
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Samsung's profit plummets amid global economic woes
Samsung Electronics says its profit for the last quarter plummeted nearly 70% as a weak global economy depressed demand for its consumer electronics products and computer memory chips
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Asian shares fall in muted trading ahead of Fed meeting
Asian shares are mostly lower in muted trading as investors await decisions on interest rates and on earnings reports from around the world
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IMF upgrades outlook for the global economy in 2023
The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine
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