Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
Russia's overheating economy is on the cusp of serious cooling, as huge fiscal stimulus, soaring interest rates, stubbornly high inflation and Western sanctions take their toll, but after three years of war, Washington may just have thrown Moscow a lifeline. U.S. President Donald Trump is pushing for a quick deal to end the war in Ukraine, alarming Washington's European allies by leaving them and Ukraine out of initial talks with Russia and blaming Ukraine for Russia's 2022 invasion, political gifts for Moscow that could also bring strong economic benefits. Washington's push comes as...
The US Manufacturing Purchasing Managers' Index (PMI), a key indicator of economic performance in the manufacturing sector, has reported a higher than anticipated figure. The actual number came in at 51.6, exceeding both the forecasted and previous numbers. This figure was higher than the forecasted number of 51.3, indicating an increase in activity level of purchasing managers in the manufacturing sector. The PMI is a closely watched survey as purchasing managers often have early access to data about their company's performance, which can be a leading indicator of overall economic...
In a recent report, the Services PMI (Purchasing Managers' Index), a key indicator of economic health in the private sector, was recorded at 49.7. This figure, published monthly by Markit Economics, is significantly lower than the forecasted 53.0, indicating a potential slowdown in the economy. The PMI index is based on surveys of over 400 executives in private sector service companies, including sectors such as transport and communication, financial intermediaries, business and personal services, computing & IT, hotels and restaurants. An index level of 50 denotes no change since the...
The S&P Global UK Composite PMI was at 50.5 in February of 2025, inching lower from 50.6 in the previous month and in line with the market consensus to mark the 16th consecutive period of expansion in the British private sector activity. Economic growth was solely driven by the services sector (51.1 vs 50.8 in January), which offset a sharper decline in manufacturing (46.4 vs 48.3), in line with the similar trend in other major European economies. The latest survey indicated the sharpest contraction in new business received by firms in one-and-a-half years, with firms citing cuts to...
The HCOB Flash Eurozone Manufacturing PMI increased to 47.3 in February 2025 from 46.6 in January, beating forecasts of 47, preliminary estimates showed. The reading pointed to the weakest downturn in the manufacturing sector in nine months, as production continued to fall although the pace of contraction was the weakest since May 2024. New business continued to fall and there was a marked reduction in manufacturing workforce numbers. Eurozone manufacturers continued to lower their purchasing activity, in response to weak customer demand. The latest reduction was marked, despite being the...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
It...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...