August 26, 2026
United States:
US Economy Expands 1.5% With Spending, Investment Revised Up
The US economy expanded at an unrevised 1.5% pace in the second quarter, though underlying details showed stronger consumer spending and business investment than initially reported.
The annualized gain in inflation-adjusted gross domestic product compares with a 2.1% advance in the first quarter, according to the second estimate issued Wednesday by the Bureau of Economic Analysis.
Europe:
ECB’s Schnabel Says Rates Must Rise More on Strong Economy
European Central Bank Executive Board member Isabel Schnabel said interest rates must rise further as the lengthy conflict in the Middle East and surprisingly strong euro-zone economy pose upside risks to inflation.
Consumer-price growth is likely to exceed 2% for an “extended period” due to high energy costs, the German official said. Acting only when this feeds into wages would leave policymakers “behind the curve,” she warned.
Asia:
Japan Business Service Prices Accelerate, Backing BOJ Hike Case
Service price gains in Japan accelerated last month, adding to signs of inflationary pressure stemming from the Middle East conflict and supporting growing speculation that the central bank will raise its benchmark interest rate next month.
The costs of services among companies climbed 3.6% from a year ago in July, according to a BOJ report Wednesday.
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