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Bloomberg Quint
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Charting the Global Economy: US GDP Falls On Larger Trade Hit
- The US economy shrank at the start of the year, impacted by weaker consumer spending and a significant trade hit.
- Canada's economy saw growth driven by a surge in tariff-driven exports, offsetting domestic weaknesses.
- Consumer sentiment improved in late May, with long-term inflation expectations lowering after China tariffs rollback.
- US government's GDP report highlighted the AI boom's impact, with record contributions from business investments in technology.
- European firms in China are pessimistic about growth prospects, while Germany's inflation rate slowed less than expected.
- Asia's export powerhouses face challenges due to Trump's trade policies, impacting investments from Asia.
- India's economy exceeded analysts' expectations, driven by agricultural activity and investments.
- Brazil's lower-than-forecast consumer prices may halt interest rate hikes, focusing on taming inflation.
- Japan lost its position as the world's largest creditor nation to Germany after 34 years, despite holding a record amount of overseas assets.
- New Zealand and several other countries adjusted their interest rates, with some cutting while others maintained rates unchanged.
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