Germany's inflation slowed in May but core price pressures accelerated on higher service costs, and unemployment declined unexpectedly in April after a notable increase, official data showed Friday. Reflecting the slowdown in energy price growth, consumer price inflation weakened to 2.6 percent in May, preliminary estimate from Destatis revealed. Inflation rate was forecast to stay steady at 2.9

A report released by MNI Indicators on Friday showed its reading on Chicago-area business activity soared to its highest level in over four years in the month of May. MNI Indicators said its Chicago business barometer spiked to 62.7 in May from 49.2 in April, with a reading above 50 indicating growth. Economists had expected the index to rise to 51.2.

The French economy contracted unexpectedly in the first quarter due to the fall in exports and investment and consumer price inflation accelerated to the highest level in more than two years in May driven by the increase in energy prices, official data showed Friday. Gross domestic product shrank 0.1 percent in the first quarter from the preceding period.

After reporting a sharp increase in new home sales in the U.S. in the previous month, the Commerce Department released a report on Thursday showing new home sales pulled back by much more than expected in the month of April. The Commerce Department said new home sales plunged by 6.2 percent to an annual rate of 622,000 in April after surging by 3.4 percent to a revised rate of 663,000 in March.

Revised data released by the Commerce Department on Thursday showed the U.S. economy grew by less than previously estimated in the first quarter of 2026. The report said real gross domestic product shot up by 1.6 percent in the first quarter, reflecting a downward revision from the previously reported 2.0 percent surge.

A report released by the Commerce Department on Thursday showed new orders for U.S. manufactured durable goods soared by much more than expected in the month of April. The Commerce Department said durable goods orders spiked by 7.9 percent in April after jumping by an upwardly revised 1.3 percent in March.

The Commerce Department released a report on Thursday showing consumer prices in the U.S. increased by slightly less than expected in the month of April. The report said the personal consumption expenditures (PCE) price index rose by 0.4 percent in April after climbing by 0.7 percent in March. Economists had expected prices to increase by 0.5 percent.

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended May 23rd. The Labor Department said initial jobless claims climbed to 215,000, an increase of 5,000 from the previous week's revised level of 210,000. Economists had expected jobless claims to rise to 213,000.

Eurozone economic confidence improved unexpectedly in May on rising sentiment among consumers and service providers, survey results from the European Commission showed Thursday. The economic sentiment index rose to 93.5 in May from 93.2 in the previous month. The score was expected to fall to 92.8.

The Bank of Korea left its interest rate unchanged on Thursday but kept the door open for rate hikes as both inflation and economic growth forecasts exceed previous projections. At the first meeting of Shin Hyun Song as governor, the policy board decided to hold the base rate at 2.50 percent.

French consumer confidence fell to the lowest in more than three years in May, survey data from the statistical office INSEE showed Wednesday. The consumer sentiment index dropped more-than-expected to 82 in May from 84 in the previous month. This was the lowest since March 2023. The survey showed that the proportion of households believing it is a good time to make major purchases fell sharply.

The euro strengthened against other major currencies in the European session on Wednesday, as European stock markets traded higher on improved prospects of a U.S.-Iran deal.

Europe's new car registrations grew at a slower pace in April amid heightened geopolitical risks, data from the European Automobile Manufacturers' Association, or ACEA, showed Wednesday. New car registrations grew 5.1 percent year-on-year in April, slower than the 12.5 percent increase in March.

The Reserve Bank of New Zealand maintained its benchmark interest rate on Wednesday and signalled rate hikes at coming meetings. The Monetary Policy Committee, governed by Anna Breman, voted to hold the Official Cash Rate at 2.25 percent. The bank has lowered its benchmark rate by 325 basis points since August 2024, bringing it to the lowest since mid-2022.

Consumer confidence in the U.S. saw a modest deterioration in the month of May, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index dipped to 93.1 in May from an upwardly revised 93.8 in April. Economists had expected the consumer confidence index to edge down to 92.0 from the 92.8 originally reported for the previous month.

The Japanese yen weakened against other major currencies in the Asian session on Monday, as European stocks traded multi-week higher amid continued optimism around the trajectory of talks to end the Iran war.

Singapore's economic growth forecast for this year was maintained, citing better-than-expected expansion in the first quarter, the Ministry of Trade and Industry said Monday.
The ministry forecast the economy to grow in the range of 2.0 percent to 4.0 percent this year.

A reading on leading U.S. economic indicators unexpectedly edged slightly higher in the month of April, according to a report released by the Conference Board on Friday. The Conference Board said its leading economic index crept up by 0.1 percent in April after falling by 0.6 percent. Economists had expected the index to dip by 0.3 percent.

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by much more than previously estimated in the month of May. The University of Michigan said its consumer sentiment index for May was downwardly revised to 44.8 from a preliminary reading of 48.2. Economists had expected the index to be unrevised.

The German economy expanded at a slightly faster pace in the first quarter, underpinned by consumption and exports, defying the adverse impact of the conflict in the Middle East. Germany's gross domestic product grew 0.3 percent from a quarter ago, unrevised from the previous estimate and followed the fourth quarter's 0.2 percent expansion, detailed data from Destatis showed Friday.

German business sentiment improved in May after falling for two straight months but the index remained at a low level as energy shock triggered by the near closure of the Strait of Hormuz weigh on manufacturing, survey results from the ifo Institute showed Friday. The business climate index posted 84.9 in May, up from 84.5 in April. The reading was also above economists' forecast of 84.2.

UK retail sales declined at the fastest pace in nearly a year in April as consumers reduced fuel purchases after the outbreak of the conflict in the Middle East. A private survey today showed that British consumer sentiment improved in May but rising inflation and continued uncertainty around the interest rate raised concerns about the sustainability of this improvement.

German consumer sentiment is set to improve in June driven by rising income expectations and willingness to buy but the war in the Middle East continues to cloud the outlook, latest results of the NIM Consumer Climate powered by GfK showed Friday. The consumer confidence index rose unexpectedly to -29.8 points in June from -33.1 points in May. The score was expected to fall to -33.7.

Quarterly national accounts, business and consumer sentiment survey results from Germany and retail sales and public finance from the UK are the top economic news due on Friday. At 2.00 am ET, Destatis releases Germany's GDP data for the first quarter. The preliminary estimate showed that the largest euro area economy expanded 0.3 percent after rising 0.2 percent in the fourth quarter.

A report released by the Federal Reserve Bank of Philadelphia on Thursday showed regional manufacturing activity unexpectedly weakened in the month of May. The Philly Fed said its diffusion index for current general activity plummeted to a negative 0.4 in May from a positive 26.7 in April, with a negative reading indicating contraction.