Reuters US Economy

IMF says China’s economic growth of 5% in 2024 was ‘positive surprise’

17 Jan 2025

By Andrea Shalal WASHINGTON (Reuters) – China notified the International Monetary Fund on Thursday that its economy grew by 5% in 2024, IMF Chief Economist Pierre-Olivier Gourinchas told reporters, calling the development a “positive surprise” compared to the IMF’s forecast of 4.8%. Gourinchas said the IMF had increased its forecast for Chinese growth slightly to …

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Mexico economy growth outlook sluggish, bracing for U.S. tariff hit – Reuters poll

17 Jan 2025

By Gabriel Burin BUENOS AIRES (Reuters) – Mexico’s economy will stay sluggish this year, a Reuters poll of economists found, as the country braces for a possible radical shift in U.S. tariff and migration rules that could dramatically worsen the outlook. Private spending and investment, already weakened by this high uncertainty and elevated interest rates, …

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Beware Egypt’s smokestack onshoring as cement exports surge: Maguire

17 Jan 2025

By Gavin Maguire LITTLETON, Colorado (Reuters) -North Africa’s largest economy and second-largest natural gas producer has stepped up the production and export of several highly energy-intensive commodities as part of efforts to accelerate the growth of its industrial sector.  Egypt’s combined exports of cement, fertilizers and chemicals doubled between 2022 and 2024 and have grown …

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Argentina’s Milei set to clinch trade surplus record on grains, energy exports

17 Jan 2025

By Hernan Nessi BUENOS AIRES (Reuters) – Argentina likely logged the largest trade surplus in its history in 2024, a Reuters analyst poll released on Friday showed, on the back of libertarian President Javier Milei’s bid to boost grains and energy exports in his first full year in office. Milei, who has been president since …

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Euro zone current account surplus narrows in November

17 Jan 2025

FRANKFURT (Reuters) – The euro zone’s current account surplus narrowed in November on a drop in the services surplus and lower primary income, which includes items like wages and dividend payments, European Central Bank data showed on Friday. The combined current account surplus of the 20 nations sharing the euro narrowed to 26.98 billion euros …

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EM central banks cool on Treasuries, stoking bond yield heat: McGeever

17 Jan 2025

By Jamie McGeever ORLANDO, Florida (Reuters) -Spiking Treasury yields and the ‘wrecking ball’ dollar are creating a negative feedback loop that monetary authorities around the globe may be helping to sustain.    The U.S. bond market selloff that began after the Federal Reserve started cutting interest rates four months ago has been as powerful as it …

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BOJ likely to keep hawkish policy pledge, raise rates next week, sources say

17 Jan 2025

By Leika Kihara TOKYO (Reuters) -The Bank of Japan is likely to raise interest rates next week barring any market shocks when U.S. President-elect Donald Trump takes office, and maintain a pledge to keep pushing up borrowing costs if the economy continues to recover, said five sources familiar with its thinking. However, the central bank …

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