Economy news
European Central Bank Raises 2026 Inflation Forecast to 2.6% Due to Energy Crisis
The ECB revised its inflation projections upward for 2026, citing higher energy prices from the Middle East conflict. The central bank now expects eurozone inflation to average 2.6% this year, well above its 2% target.
↗ Linked storyChina's Q1 2026 GDP Growth Beats Forecasts at 5% Despite Iran War Impact
China's economy showed remarkable resilience in the first quarter of 2026, with GDP growing 5% year-on-year despite global energy shocks from the Iran war. This beat economist forecasts of 4.8% growth and accelerated from the 4.5% growth in Q4 2025.
↗ Linked storyUS Unemployment Claims Drop to 207,000 as Labor Market Shows Resilience
Initial jobless claims fell to 207,000 for the week ending April 11, down 11,000 from the previous week. The data suggests the US labor market remains relatively stable despite broader economic uncertainties from the Middle East conflict.
IMF Cuts Global Growth Forecast to 3.1% for 2026 Amid Middle East Conflict
The International Monetary Fund revised down its global growth projections due to the outbreak of war in the Middle East. Global GDP is now expected to grow 3.1% in 2026 and 3.2% in 2027, well below pre-pandemic averages.
↗ Linked story