Global Economy Gains Momentum as Growth Accelerates and AI Boom Powers Ahead

The global economy is gaining momentum as growth accelerates and an artificial intelligence (AI) boom powers ahead.

Economic data from North America, Europe, Asia, and emerging markets showed encouraging signs of resilience despite ongoing geopolitical tensions, elevated borrowing costs, and persistent global uncertainty.

In the US, labour market data underscored the continued strength of the country's economy, with applications for unemployment benefits declining sharply to one of the lowest levels seen in nearly six decades.

The European Central Bank (ECB) adopted a cautious approach towards monetary policy, deciding against raising interest rates immediately and instead evaluating incoming economic and inflation data before making further policy adjustments.