Global Economy Endures as Jobless Claims Hit 1969 Low
The global economy appears to be resilient despite some turbulence, as evidenced by recent US jobless claims hitting their lowest point since 1969. This development comes alongside strong demand for services, driving business growth at its fastest pace in months.
New-home sales also rebounded in June after a rough patch, thanks in part to builders offering discounts to offset high mortgage rates. Meanwhile, the European Central Bank has put its rate hikes on pause, with President Lagarde hinting that further action will depend on additional data before making any moves.
In Asia, South Korea's economy outperformed expectations in Q2 2026, with AI-powered chip exports setting new records. However, Japan's trade deficit grew as a weak yen and expensive oil pushed import costs higher.