Latest news with #UStariffs
CNA
3 days ago
- Business
- CNA
Thai economy improved in April on increased manufacturing, central bank says
BANGKOK :The Thai economy improved in April from March, driven by the manufacturing sector after a sharp increase in exports drove inventory replenishment and also helped by a slight rise in tourism, the central bank said in a report on Friday. It was too early to see adverse impacts from the U.S. tariff policy, which was announced in early April, the Bank of Thailand said, noting that private investment continued to expand. And while the tourism sector slightly improved from March, it remained weaker compared to the same period last year. "Although exports to the U.S. slowed slightly, they remained at a high level," the central bank said. Total exports rose 9.9 per cent in April from a year earlier and imports increased by 17.3 per cent, the BOT said, leading to a trade deficit of $1.4 billion.
Reuters
3 days ago
- Business
- Reuters
Thai economy improved in April on increased manufacturing, central bank says
BANGKOK, May 30 (Reuters) - The Thai economy improved in April from March, driven by the manufacturing sector after a sharp increase in exports drove inventory replenishment and also helped by a slight rise in tourism, the central bank said in a report on Friday. It was too early to see adverse impacts from the U.S. tariff policy, which was announced in early April, the Bank of Thailand said, noting that private investment continued to expand. And while the tourism sector slightly improved from March, it remained weaker compared to the same period last year. "Although exports to the U.S. slowed slightly, they remained at a high level," the central bank said. Total exports rose 9.9% in April from a year earlier and imports increased by 17.3%, the BOT said, leading to a trade deficit of $1.4 billion. Thailand recorded a current account deficit of $1.5 billion in April.
Reuters
5 days ago
- Business
- Reuters
Euro zone consumers raise near-term inflation expectations, ECB survey shows
FRANKFURT, May 28 (Reuters) - Euro zone consumers raised their inflation expectations in April but kept a steady view on price growth further out, highlighting elevated uncertainty amid a global trade war, the ECB's Consumer Expectations Survey showed on Wednesday. Households see inflation at 3.1% over the next year, above the 2.9% predicted a month earlier and also well above the ECB's 2% own target. That reading, however, goes counter to the ECB's own projections that price growth was set to slow given weak economic growth, muted wage increases, lower energy costs and a stronger euro. This combination of muted price pressures along with pervasive uncertainty related to U.S. tariffs is why the ECB is all but certain to cut interest rates for the eight time in 13 months next week. Inflation expectations three and five years out remained unchanged, the ECB said, based on a survey of 19,000 adults in 11 euro zone countries. Consumers see price growth at 2.5% in three years and at 2.1% in five years.
Wall Street Journal
23-05-2025
- Business
- Wall Street Journal
Germany Upgrades First-Quarter Growth on Manufacturing Strength Ahead of Tariffs
Germany's economic growth at the start of the year was faster than previously reported, as exports and manufacturing jumped on the back of U.S. firms stockpiling goods ahead of President Trump's tariffs. Gross domestic product rose 0.4% in the first quarter, more than the 0.2% previously estimated and the fastest rate since the third quarter of 2022, according to German statistics agency Destatis on Friday. Growth in the final quarter of 2024 was down by 0.2%.
Reuters
21-05-2025
- Business
- Reuters
German tax revenues up 10.2% in April, finance ministry says
BERLIN, May 22 (Reuters) - Germany's federal and state government tax revenues rose 10.2% in April from the same month a year ago, the finance ministry said on Thursday. In its monthly report, the ministry said the substantial increase was mainly down to a one-time effect in state taxes, where revenues jumped by more than 190% from the previous year. Total tax revenues hit 64.08 billion euros ($72.63 billion) in April, the report said. From January to April, tax revenues increased by 9.7% from the same period in 2024 to 286.34 billion euros. Europe's ailing, largest economy is under pressure after it contracted in 2024 for the second consecutive year. Stagnation is expected this year. Significant impulses to boost tax revenues are not expected for the time being, although both industrial production and exports have recorded recent increases, said the report. "The uncertainty associated with international trade conflicts, in particular, is likely to burden the economy," the ministry said. Germany is expected to be badly affected by U.S. tariffs due to its export-oriented economy. The U.S. was Germany's biggest trading partner in 2024 with two-way goods trade totalling 253 billion euros ($289.66 billion). For 2025, tax experts see revenues climbing to 893.3 billion euros, up 3.7% from the previous year, said the report. Last week, the council of tax experts said Germany's economic downturn coupled with tax relief would likely lead to a 81.2 billion euros reduction in total tax revenues between 2025 and 2029 compared with a projection in October. ($1 = 0.8822 euros)
