July 25, 2025
United States:
US Core Capital Goods Orders Decline Amid Policy Uncertainty
Orders placed with US factories for business equipment unexpectedly declined in June, suggesting companies remained cautious about capital spending due to trade and government policy uncertainty.
The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, dropped 0.7% last month after an upwardly revised 2% gain in May, Commerce Department figures showed Friday.
Europe:
German Business Outlook Edges Up as EU, US Move Toward Deal
Confidence among German businesses improved slightly at the start of third quarter as Europe and the US moved closer to a trade deal and Chancellor Friedrich Merz vowed to make the economy his No. 1 priority.
An expectations index by the Ifo institute rose to 90.7 in July from a revised 90.6 in June.
Asia:
China Budget Gap Hits Record in Spending Blitz to Offset Tariffs
China’s budget deficit climbed to a fresh record in the first half, highlighting intensified government efforts to shore up domestic demand as Donald Trump’s tariffs reduce exports to the US.
The broad fiscal gap reached 5.25 trillion yuan ($733 billion) in January-June, according to Bloomberg calculations based on data released by the Finance Ministry during a briefing on Friday.
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