12 stories · ranked by importance and freshness
REDEFINING ECONOMIC GROWTH METRICS
AI summaryBank of Punjab chief executive Zafar Masud has proposed replacing traditional headline GDP metrics with a comprehensive 'Welfare GDP' indicator. Speaking at an Islamabad think tank, he argued that standard growth figures fail to accurately reflect the lived financial reality of ordinary Pakistanis.
INFLATION RISES TO 9.29%
AI summaryWeekly inflation in Pakistan increased by 9.29 percent year-on-year, primarily propelled by rising costs for wheat flour, edible oil, and fuel transport. Meanwhile, federal authorities have ordered a nationwide quality audit of loose food products following high failure rates in packaged food testing.
US JOBS DROP UNEXPECTEDLY
AI summaryThe U.S. labor market unexpectedly contracted in July, losing 23,000 nonfarm payroll positions against predictions of an 83,000 gain. Economists polled by Dow Jones had also expected the national unemployment rate to remain steady at 4.2%.
JULY JOBS SHOCKER
AI summaryAmerican payroll growth unexpectedly contracted in July, introducing fresh uncertainty into the macroeconomic outlook. However, a slight decline in the headline unemployment rate provided a silver lining, leaving financial markets with a conflicting economic narrative.
JULY JOBS DATA PREVIEW
AI summaryFinancial markets are preparing for the release of Friday's July labor market report, which is expected to show a modest expansion in hiring. Consensus estimates point to an addition of 83,000 nonfarm payrolls alongside an unchanged unemployment rate of 4.2%.
HIRING SLOWS TO 44K
AI summaryPrivate sector hiring in the United States slowed significantly in July, with businesses adding just 44,000 workers to their payrolls. The weaker-than-expected figure was largely buoyed by the healthcare sector, which accounted for most of the monthly job growth.
EUROPEAN RIVERS DRY UP
AI summaryUnprecedented drought conditions across Europe are severely lowering water levels in critical transport channels like the Rhine and Danube. Consequently, disruptions to freight transit and power generation are creating severe risks for regional supply chains and economic stability.
INFLATION FEARS SURGE PAST PANDEMIC
AI summaryCorporate procurement leads are facing price volatility that exceeds levels experienced during the peak of the pandemic. These escalating cost pressures are complicating corporate planning and intensifying scrutiny on the Federal Reserve's monetary policy.
INFLATION REALITY CHECK
AI summaryAlternative economic gauges suggest underlying U.S. inflation has dropped to multi-year lows, contrasting sharply with headline figures. These trimmed mean measures provide central bankers with a nuanced perspective as debate over monetary policy intensifies.
CHINA FACTORY OUTPUT DROPS
AI summaryChinese manufacturing activity unexpectedly contracted in July as the robust export rally seen earlier in the year began to taper off. Severe weather disruptions caused by typhoons and a slump in broader market demand further dragged down industrial performance.
US GDP SLOWS TO 1.5%
AI summaryThe United States economy expanded at an annualized rate of 1.5 percent during the second quarter, marking a clearer deceleration than forecasters had anticipated. Much of the headline weakness stemmed from reduced federal spending alongside changes in business inventories, even as core inflation held at 3.3 percent in June.
SINGAPORE FIGHTS INFLATION
AI summarySingapore's central bank has executed an unexpected monetary tightening to counter renewed inflation risks driven by escalating energy costs. Rather than adjusting interest rates, the Monetary Authority of Singapore is leveraging its trade-weighted exchange rate framework to keep domestic prices anchored.