May 7, 2026
United States:
US Productivity Growth Cools on Rebound in Hours Worked
US labor productivity continued to rise in the first quarter, though at a slower pace, indicating companies are gradually improving worker efficiency to mitigate costs.
Productivity, or nonfarm employee output per hour, increased at a 0.8% annualized rate after a downwardly revised 1.6% advance in the fourth quarter, data from the Bureau of Labor Statistics showed Thursday.
Europe:
Germany Sees €52 Billion Tax Hole as Iran War Hits Economy
Germany expects federal tax revenue to plummet by more than €50 billion ($58.9 billion) through 2030 compared to estimates in October as the government laid the blame with US President Donald Trump’s war in Iran.
The projection shows that federal tax income for this year will reach €382.1 billion, or €9.9 billion lower than forecast in the previous estimate released in October, the Finance Ministry said in an emailed statement. The cumulative drop over the next four years is projected to amount to €52.3 billion.
Asia:
Japan’s Nikkei 225 Soars to a Record on US-Iran Deal Optimism
Japanese stocks surge led by tech gains as markets reopened after a holiday break, with investors catching up with the global equities rally driven by optimism the US and Iran were nearing a deal to end their conflict.
The tech-heavy Nikkei 225 Stock Average advanced 5.6% to close at a record high of 62,833.84. The broader Topix Index rose 3% to 3,840.49, just a whisker away from its own record high.
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