Overview
- China’s real GDP rose 5.2% year-on-year in Q2, down from 5.4% in Q1 as property investment plunged 11.2% and sustained deflationary pressures emerged.
- U.S. consumer prices increased 2.7% in June while core CPI climbed 2.9%, both figures surpassing forecasts amid tariff-driven cost pass-through.
- Federal Reserve Chair Jerome Powell kept borrowing costs unchanged for a fourth meeting and cautioned that tariffs could further fuel inflation this summer.
- Japan’s exports to the United States dropped 11.4% in June, marking a third straight monthly decline as U.S. duties weigh on auto and industrial shipments.
- U.S. retail sales rebounded 0.6% in June to $720.1 billion—the first gain in three months—led by stronger auto and auto parts purchases.