August 15, 2025
United States:
US Retail Sales Climb in Broad Advance After Upward Revision
US retail sales rose in July in a broad-based advance, boosted by car sales and major online promotions in a sign consumers stepped up their spending in recent months.
The value of retail purchases, not adjusted for inflation, increased 0.5% after an upwardly revised 0.9% gain in June, Commerce Department data showed Friday.
Europe:
Swiss Economy Unexpectedly Expanded Before 39% Tariff Hit
Switzerland’s economy unexpectedly grew in the second quarter, maintaining some momentum before the country was hit with one of the highest US tariff rates.
The expansion of 0.1% was better than the contraction of 0.1% forecast by economists in a Bloomberg survey. It follows a 0.8% pace in the previous three months, a growth spurt driven by exporters front-loading sales to the US before trade levies kicked in.
Asia:
China’s Economy Slows Sharply as Trade War Bites
China’s economy slowed across the board in July with factory activity, investment and retail sales disappointing, suggesting Beijing’s crackdown on destructive price wars and spillovers from Donald Trump’s tariffs are casting a pall over the world’s No. 2 economy.
Production at Chinese factories and mines rose at the slowest rate since November and expanded a worse-than-forecast 5.7% last month from a year earlier, according to data released by the National Bureau of Statistics on Friday, compared with June’s gain of 6.8%.
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