Updated Jan. 16, 2024 12:39 pm ET Chinese Premier Li Qiang gave global business elites a big hint on highly anticipated growth figures, as he sought to reassure them that investing in China is an opportunity—not a risk. Li delivered the message in an address at the World Economic Forum in Davos, Switzerland, as Chinese … Read more
China looks all but certain to hit its growth goal of about 5% for 2023, shifting attention to whether deflation risks, the housing crisis and a lingering confidence crunch will derail efforts to build momentum this year. Data due on Wednesday will likely show China’s gross domestic product expanded 5.2% for the entirety of last … Read more
London Mayor Sadiq Khan on Thursday will blame Brexit for costing the UK economy £140 billion ($178 billion), calling on the government to “urgently” rebuild relations with the European Union to stem the decline. Britain’s EU divorce has also meant there are 2 million fewer jobs nationwide than there otherwise would have been, including 290,000 … Read more
China has detained the head of an overseas consulting firm for allegedly spying on the Asian nation for the British government, putting renewed focus on an industry targeted by Beijing’s national security crackdown. China’s spy agency said Monday that the UK’s MI6 intelligence service employed the consultant from a “third country” to carry out espionage … Read more
If the consensus on Wall Street is often wrong — and evidence from 2023 does little to dispel that notion — then in the year ahead investors are facing either the mother of all rallies or a selloff for the ages. That’s because most investment outlooks from major banks, advisers and asset managers envisage the … Read more
Gabriel Boric made history when he got the most votes for head of state in Chilean history. Only two years later, polls show the nation is ready to abandon the president’s leftist coalition and back the conservative right. That drastic change in sentiment is apparent in districts like Putaendo, a rural town of 17,000 people … Read more
I’m Chris Anstey, a senior editor in Boston, and today we’re looking at what we learned from China’s latest economic data. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so … Read more
Wall Street is gearing up for what’s expected to be the most-important Federal Reserve decision of the year, with traders awaiting any signals on whether the market’s aggressive dovish bid is now overdone. Stocks, bonds and the dollar saw mild moves amid bets the Fed will hold rates Wednesday and try to put a lid … Read more
I’m Chris Anstey, a senior economics editor in Boston and today I’m looking at Katia Dmitrieva’s reporting on the US consumer. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so … Read more
US consumer spending, inflation and the labor market all cooled in recent weeks, adding to evidence that the economy is slowing. Inflation-adjusted personal spending rose 0.2% last month after a downwardly revised 0.3% advance in September, according to the Bureau of Economic Analysis. Separate data Thursday showed recurring applications for unemployment benefits rose to the … Read more