Reuters US Economy

Hartford Financial beats profit estimates on stronger underwriting, investment returns

30 Jan 2025

(Reuters) – Insurer Hartford Financial Services beat Wall Street estimates for fourth-quarter profit on Thursday, driven by stronger underwriting and higher investment income. Insurance spending has remained resilient despite economic uncertainties, as businesses prioritize coverage to guard against risks such as natural disasters, cyberattacks and health emergencies. The need to protect assets and ensure business …

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Despite tariff threat, Mexico maintains GDP growth target of up to 3% this year

30 Jan 2025

By Ana Isabel Martinez MEXICO CITY (Reuters) – Mexico maintains a target for gross domestic product growth of between 2% and 3% this year, the finance ministry said on Thursday, noting there were no signs of a “permanent weakening” that could push the country into a recession. If U.S. President Donald Trump makes good on …

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Brazil meets 2024 primary budget target, but critics warn of challenges

30 Jan 2025

By Marcela Ayres BRASILIA (Reuters) -Brazil’s central government met its 2024 primary budget target, Treasury data released on Thursday showed, defying more pessimistic market forecasts with the support of one-time revenues and strong dividends that may not recur. The primary budget deficit of 43 billion reais ($7.31 billion) was equivalent to 0.36% of gross domestic …

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Brazil’s Lula vows to reciprocate potential Trump tariffs, makes market-friendly remarks

30 Jan 2025

By Lisandra Paraguassu, Gabriel Araujo BRASILIA (Reuters) -Brazilian President Luiz Inacio Lula da Silva said on Thursday that his government would reciprocate if U.S. President Donald Trump decides to impose tariffs on Latin America’s largest economy, and called for mutual respect. “It is very simple: if he taxes Brazilian products, there will be reciprocity,” Lula …

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Greece’s economy projected to grow 2.1% in 2025, IMF says

30 Jan 2025

ATHENS (Reuters) – Greece’s economy is projected to grow 2.1% in 2025, mainly driven by investment, the International Monetary Fund mission said on Thursday, adding that any crisis in major euro area countries as well as global uncertainties could hamper growth. This compares with a Greek government forecast of 2.3% for this year In the …

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Argentina markets brace for rate cut as peso ‘crawling peg’ slows

30 Jan 2025

By Walter Bianchi BUENOS AIRES (Reuters) – Traders and analysts expect Argentina’s central bank to lower its benchmark interest rate as soon as Thursday, as inflation falls sharply and as the bank is set to slow the monthly pace of devaluation of the local peso currency. Starting Monday, the devaluation, known as the crawling peg, …

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Mexico’s economy posts first quarterly contraction since 2021

30 Jan 2025

(Reuters) -Mexico’s economy shrank more than expected in the fourth quarter on a sequential basis, preliminary data from national statistics agency INEGI showed on Thursday, marking its first quarter-on-quarter contraction in over three years. The negative figure comes as Mexico braces for potential U.S. import tariffs that could further hit its economy, already facing the …

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A.O. Smith forecasts annual profit below estimates on weak water heater demand

30 Jan 2025

(Reuters) – Water heater maker A. O. Smith forecast full-year profit below estimates and also missed fourth-quarter profit expectations on Thursday, hurt by lower sales of its water heaters in North America and China. A combination of job insecurity, a prolonged housing downturn, debt and tariff threats from U.S. President Donald Trump has weakened consumer …

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Tractor Supply misses quarterly results estimates on soft big ticket spending

30 Jan 2025

(Reuters) – Farming supplies retailer Tractor Supply missed Wall Street expectations for fourth-quarter results on Thursday, hurt by tepid demand for big-ticket items such as garden equipment and power tools. Shares of the Brentwood, Tennessee-based retailer were down about 3% in premarket trading. Budget-strapped customers have pulled back spending on expensive non-essential items amid persistent …

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