How Are Global Economies Holding Up Through Trade Turmoil?
In China, weak monthly data on retail sales and industrial production pointed to a broad-based slowdown. The reports add to pressure on Beijing to do more to rev up growth and consumer spending in the face of President Trump's tariffs.
Meanwhile, Japan's economy grew for a fifth straight quarter, expanding 0.3% in April to June, compared to the previous three months. The modest expansion, despite trade uncertainty, calmed recession fears.
In Switzerland, preliminary data showed second-quarter growth slowing sharply. The economy grew just 0.1% compared to the first quarter, as tariff frontrunning unwound. With Swiss goods now subject to 39% tariffs, the pressure could increase.
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