March 30, 2023
United States:
US Corporate Profits, Gross Domestic Income Fell at End of 2022
US corporate profits declined in the fourth quarter and a key gauge of economic activity stumbled as companies battled rising costs and softer demand against a backdrop of higher borrowing costs.
Adjusted pretax corporate profits fell 2% in the final three months of 2022, the most in two years, according to Commerce Department figures published Thursday. Profits retreated at both domestic non-financial and financial corporations. From a year earlier, profits were up 2.6%.
Europe:
German Inflation Slows Sharply as Energy-Price Spike Fades
German inflation eased significantly, thanks largely to natural gas costs tumbling following their surge after Russia invaded Ukraine just over a year ago.
Consumer prices in Europe’s biggest economy rose 7.8% in March compared with 9.3% in February, the statistics office said Thursday.
Asia:
IMF Chief Urges Faster Debt Restructurings During Visit to China
The world urgently needs faster and more efficient processes for restructuring debts of vulnerable countries, the International Monetary Fund’s chief said on a visit to China, a nation that many fellow fund members including the US accuse of blocking advances.
Speaking at the Boao Forum on Thursday, Kristalina Georgieva underlined the importance of “countries in a relatively stronger position helping the vulnerable members of our global community.”
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