Economic News
Fed chairman sees risk of more persistent shortfall on inflation
US central bank chairman Jerome Powell signalled on Wednesday that the door was wide open to policy easing, telling lawmakers that there were increased risks bearing down on the US economy from overseas even as price pressures remained muted.
Sir Kim Darroch steps down as US ambassador
Sir Kim Darroch, the British ambassador to the US, has resigned, the Foreign Office confirmed on Wednesday.
Eurozone downgrades growth forecasts as global trade tensions rise
The European Commission has revised down its 2020 growth forecast for the Eurozone, blaming heightened global trade tensions and the threat of a no-deal Brexit.
UK economy returns to growth as car production picks up
The UK economy grew in May, reversing earlier declines, as previously stalled car production started to pick up, official figures showed on Wednesday.
UK foreign trade deficit narrows in May as imports drop
The UK's shortfall in trade with the rest of the world narrowed over the three months to May, but chiefly as a result of purchases of overseas goods.
French industrial output soars in May
French industrial output jumped in May on the back of increases across most sectors, leading some economists to revise their forecasts higher.
Trump and Xi talked by phone on Tuesday, no details reported
The Presidents of the US and China held a telephone call on Tuesday, the first since the G20 leaders' summit at the end of June.
Chinese CPI steady in June, factory gate prices ease
Consumer price inflation in the people's Republic of China was steady in June, despite a sharp rise in pork prices in the wake of the wave of Africa swine fever.