June 13, 2023
United States:
US Inflation Slows, Giving Room for Fed to Pause Rate Hikes
US inflation slowed in May, supporting the case for Federal Reserve officials to pause their run of aggressive interest-rate hikes this week.
Both the consumer price index and the core CPI — which excludes food and energy — decelerated on an annual basis, highlighting inflation’s descent since peaking last year. At 4%, year-over-year inflation is now at its lowest level since March 2021, according to data out Tuesday from the Bureau of Labor Statistics.
Europe:
German Investor Outlook Improves Slightly After Winter Recession
Investor confidence in Germany’s economy unexpectedly improved, though doesn’t signal a strong recovery from its first recession since the pandemic.
The ZEW institute’s gauge of expectations rose to -8.5 in June from -10.7 in May. Economists polled by Bloomberg had predicted a decline to -13.5. An index of current conditions plunged.
Asia:
China Weighs Broad Stimulus With Property Support, Rate Cuts
China is considering a broad package of stimulus measures as pressure builds on Xi Jinping’s government to boost the world’s second-largest economy, according to people familiar with the matter.
The stimulus proposals, drafted by multiple government agencies and partially reported by Bloomberg News earlier this month, include at least a dozen measures designed to support areas such as real estate and domestic demand, the people said, asking not to be named because the matter is private.
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