Economy News

Economy

November Sees a Surprising 1.8% Surge in Japan's Retail Sales

Japan's retail sales in November exceeded expectations with a 1.8% monthly increase, reaching ¥14.2 trillion. Year-on-year sales value rose by 2.8%, and the wholesale industry ...

Economy

US Job Market Shows Resilience: Initial Jobless Claims Dip to 219,000

The US labor market shows signs of resilience as initial jobless claims decrease slightly to 219,000, while the insured unemployment rate experiences a marginal increase to 1.3%. T...

Economy

Turkey Slashes Interest Rates to 47.5%: A Bold Move to Stabilize Economy

The Central Bank of the Republic of Turkey has cut its key interest rates to 47.5%, the first reduction since February 2023, aiming to stabilize the economy by addressing inflation...

Economy

South Korea Faces Unprecedented Crisis: 986,000 Self-employed Businesses Shut Down in 2023

In 2023, South Korea witnessed a record high of 986,000 self-employed business closures, the highest since 2006. This surge, driven by economic downturns and rising labor costs, hi...

Economy

China's 2023 GDP Revised Upwards: A 2.7% Leap Towards Economic Precision

China's 2023 GDP has been revised upwards by 2.7% to 129,427.2 billion yuan, reflecting growth in secondary and tertiary industries and an increase in employment, based on the fift...

Economy

Bank of Korea Eyes Rate Cuts in 2025 to Combat Economic Slowdown

The Bank of Korea plans to reduce the base interest rate in 2025 to alleviate economic slowdown pressures, emphasizing financial market stability and continuing lending system refo...

Economy

Soaring Exchange Rates Challenge South Korea: Exporters and Households Under Pressure

South Korea faces a challenging economic landscape as the won-dollar exchange rate soars past 1,460 won, impacting exporters and households. Government measures and political uncer...

Economy

South Korea Boosts Policy Finance to 247.5 Trillion Won for 2025, Focusing on Strategic Industries

South Korea increases policy finance to 247.5 trillion won for 2025, focusing on strategic industries like AI, semiconductors, and support for SMEs. The initiative aims to bolster ...