The Commerce Department of the United States announced in a report of preliminary data that the country's economy grew by 2.8% in the second quarter on an annualized basis. Trading Economics reports that analysts expected a gain of 2% on average. The GDP growth rate increased dramatically from 1.4% in the first quarter. Two-thirds of the US economy is made up of consumer expenditure, which...

The Federal Network Agency (BNetzA) of Germany has received an application from the nation's gas transportation providers to establish a hydrogen pipeline infrastructure by 2032. The estimated length of the hydrogen network is 9,666 kilometers; roughly 60% of the pipelines will be converted from already-existing gas pipelines because building a new hydrogen pipeline might take five to eight years...

The UN Conference on Trade and Development (UNCTAD) research predicts that global trade will reach $32 trillion by 2024. Trade was expected to reach $30.7 trillion in 2023, but it won't surpass the record of $32.2 trillion set in 2022. According to data from the first quarter of 2024, trade grew "modestly and gradually" in the start of the year. Quarterly, trade in products grew by 1% and trade...

Major Western European stock indices had a decline on Friday. One of the main causes of the detrimental effect on market sentiment was a significant technical malfunction in Microsoft Corp.'s software. Stoxx Europe 600, a composite index of the biggest European corporations, dropped by 0.8% to 510.03 points. According to Trading Economics, it fell for the fifth straight session, the longest run...

President of the European Central Bank (ECB) Christine Lagarde stated at a press conference following the outcomes of the regulator's meeting on Thursday that while the Eurozone economy grew in the second quarter of 2024, the growth rate is probably slower than it was in the prior quarter. Lagarde believes that the currency bloc's economy will continue to be supported by domestic demand as well...

Annualized consumer prices in the Eurozone increased by 2.5% in June, according to a final statistics report from the European Union's statistical office. The data supported the preliminary estimate and the consensus forecast of analysts surveyed by Trading Economics. Inflation slowed from May's 2.6 percent. Food, drink, and tobacco product prices growth decreased to 2.4% in June from 2.6% in...

The International Monetary Fund (IMF) maintained its 3.2% growth estimate for the global economy in 2024 and maintained its April prediction. The fund revised its forecast in April, increasing them to the current range for the global economy from 3.1%. The predicted 3.3% annual growth rate for the world economy has been raised by 0.1 percentage points. - Up to 3.3%. The prediction for global...

According to European aerospace company Airbus, there will be a 42,430 aircraft worldwide demand for new passenger and freight aircraft between 2024 and 2043. The company’s Global Market Forecast 2023 reads that the two most populous nations in the world, China and India, will be the main growth drivers. The demand for narrow-body aircraft will be 33,510, while the demand for wide-body...

Global smartphone shipments rose 6% year over year in the second quarter of 2024, marking the greatest growth in three years, reads a preliminary analysis from Counterpoint Research. Nearly every region of the world saw sales rise for the third consecutive quarter, with Europe and Latin America experiencing growth rates above 10%. Samsung continues to lead the worldwide smartphone industry with...