February 20, 2026
United States:
US GDP Rose at Slower-Than-Forecast 1.4% Pace Last Quarter
The US economy grew less than expected at the end of last year, dragged down by a record-long government shutdown, consumer spending and trade.
Inflation-adjusted gross domestic product increased an annualized 1.4% in the fourth quarter after rising 4.4% in the prior period, according to the government’s initial estimate out Friday. Overall, the economy expanded 2.2% last year, data from the Bureau of Economic Analysis showed.
Europe:
Euro-Zone Wage Growth Quickens, Backing ECB Caution on More Cuts
A key measure of euro-area pay growth quickened, supporting the European Central Bank’s view that there’s currently no need to lower interest rates further.
Fourth-quarter negotiated wages rose 3% from a year ago, the ECB said Friday. That’s higher than the previous period’s 1.9% reading, but way below the 5.4% peak in 2024.
Asia:
Japan’s CPI Cools to Slowest Pace in Two Years on Distortions
Japan’s key inflation gauge eased to the slowest pace in two years, posing a communication challenge for a central bank that will likely stay determined to raise the benchmark interest rate when the timing is right. The yen weakened after the data.
Consumer prices excluding fresh food rose 2% from a year earlier in January, the smallest gain since January 2024, according to the Ministry of Internal Affairs and Communications Friday.
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