GDP India’s economy recorded robust year-on-year GDP growth of 7.8% in the April-June quarter, outperforming the Reserve Bank of India’s (RBI) 7% forecast. Growth remained resilient despite external headwinds, including the West Asia conflict, elevated energy prices, and supply-chain disruptions. The expansion was supported by strong performance in both manufacturing and services, which recorded near double-digit growth during the quarter. Manufacturing grew 9.2%, acceleratin

Tariffs USA: The United States has imposed 50 percent tariffs on approximately $20 billion worth of Canadian goods after trade negotiations between the two countries failed to produce an agreement following three days of talks in Washington, DC. In response, Canadian Prime Minister Mark Carney outlined measures to shield Canadian workers and businesses from the impact of the escalating trade tensions, including additional support for affected industries. Canada is also prepar

Thailand Economy Grows 1.9% in Q2 2026 Thailand: Thailand’s economy grew 1.9% year-on-year in the second quarter of 2026, exceeding the 1.7% median forecast, according to the National Economic and Social Development Council. On a seasonally adjusted quarterly basis, GDP contracted 0.2%, compared with a forecast 0.6% decline. Growth in the first quarter was revised to 2.8% year-on-year and 0.6% quarter-on-quarter. The agency raised its full-year 2026 growth forecast to 2.0–2.5

Thailand’s economy grew 1.9% year-on-year in the second quarter of 2026, exceeding analysts’ median forecast of 1.7%. However, on a seasonally adjusted quarterly basis, GDP contracted by 0.2%, reflecting weak domestic consumption amid high household debt and rising living costs.

Philippine Economy Grows 2.3% in Q2 Amid Slower Economic Activity Philippine: The Philippine economy grew 2.3% year-on-year in the second quarter, below the 2.8% growth expected by economists in a Reuters poll and unchanged from the first-quarter pace. On a seasonally adjusted basis, GDP increased 0.6% quarter-on-quarter, down from 0.9% in the previous quarter. Annual inflation slowed for a third consecutive month to 6.2% in July from 6.4% in June, driven by slower transport

Japan’s Economy Expands 1.1% in Q2 2026, Below Expectations Japan: Japan’s economy expanded at an annualised rate of 1.1% in Q2 2026, easing from a marginally revised 1.9% growth in Q1 and below market expectations of 2.0%. Private consumption made no contribution to GDP amid elevated cost pressures, while government spending increased due to economic support measures. Capital spending declined further amid mounting geopolitical tensions, while net trade contributed positivel

Singapore Economy Expands 6.1% in H1 2026 Amid Strong AI Investment Singapore: Singapore’s economy expanded 6.1% year-on-year in the first half of 2026, supported by an accelerating global boom in artificial intelligence investment. In Q2, GDP grew 5.9% year-on-year, easing from 6.3% in Q1, while on a seasonally adjusted quarter-on-quarter basis, the economy expanded 1.4%, following 1.2% growth in Q1. The final Q2 growth figure was revised up from the advance estimate of 5.7%

German DIY and Garden Retailers See Adjusted Growth Despite Fragile Economic Conditions Germany: The DIY and garden retail sector recorded mixed performance in H1 2026 amid subdued consumer sentiment, rising inflation, and energy prices. Germany’s sales declined 0.4% YoY to EUR 10.99 billion (USD 12.73 billion), while Austria remained stable at EUR 1.63 billion (USD 1.89 billion; 0.0%) and Switzerland declined 1.4% to CHF 1.78 billion (USD 2.19 billion). Source: BHB Associati

House renovation USA: The NAHB State Projections of Remodeling (SPR) indicates continued momentum in U.S. remodeling activity, with California, Texas and Florida emerging as the largest state markets by remodeling expenditure, followed by New York and North Carolina. Meanwhile, Michigan recorded the strongest increase in remodeling spending, with notable gains also reported in Virginia, North Carolina, Alabama and Washington. The trend highlights sustained remodeling activity

Strait of Hormuz Disruption Reduces Energy and Industrial Trade Global: Disruptions to shipping through the Strait of Hormuz have reduced global trade in energy, fertilisers and industrial products, according to an update from the International Trade Centre (ITC). The strait accounts for around one-quarter of global seaborne oil trade and a significant share of liquefied natural gas (LNG) and fertiliser shipments, including approximately one-third of globally traded urea. Sin

Indonesia's Economy Grows 5.29% in Second Quarter Indonesia: Indonesia's economy expanded by 5.29% year-on-year in the second quarter of 2026, according to Statistics Indonesia, exceeding the 5.1% median forecast in a Reuters survey despite slowing from 5.61% growth recorded in the first quarter. Household and government spending eased compared with the previous quarter, although government expenditure increased by 15.97% year-on-year, supported by spending on civil servants

New Zealand Unemployment Reaches Highest Level Since 2015 New Zealand: New Zealand's unemployment rate increased to 5.6% in the second quarter of 2026, the highest level since late 2015, according to Statistics New Zealand. The figure rose from a revised 5.4% in the previous quarter and exceeded the market forecast of 5.4%. The increase was driven by a rise in the number of people seeking employment, which outpaced growth in employment. The data indicates continued labour mar

EU Retail Turnover Growth Slows to 2.1% in 2025 Europe: Retail turnover in the European Union increased by 2.1% in 2025, marking a further slowdown compared with the previous year. Northern and Eastern European countries recorded the highest growth rates, led by Norway at 13.1%, followed by Lithuania (10.0%), Sweden (8.9%), Bulgaria (8.2%) and Slovakia (8.0%). The findings highlight differing retail performance across European markets. Among the 31 countries analysed, several

ECB Holds Interest Rates Steady Amid Ongoing Inflation Uncertainty BULGARIA: The European Central Bank (ECB) kept its three key interest rates unchanged at its 23 July 2026 meeting, maintaining the deposit facility rate at 2.25%, the main refinancing rate at 2.40% and the marginal lending rate at 2.65%. The decision reflects continued uncertainty surrounding inflation, particularly due to volatile energy prices linked to the Middle East conflict. Although current energy price

New US Tariffs to Affect Selected Canadian Exports USA: The US has announced that a 50% tariff will be imposed on selected Canadian goods from 19 August 2026, following a presidential proclamation citing concerns over Canada's trade policies. The tariffs will apply even to certain goods that qualify under the USMCA, although products already subject to Section 232 duties are excluded. The measures could affect some HVACR and refrigeration equipment, requiring Canadian exporte

RONA Strengthens Atlantic Canada Presence Through Acquisition CANADA: RONA has acquired five stores and a direct delivery centre from RONA Atlantic Ltd, expanding its operations in Atlantic Canada. The acquisition includes locations in Halifax, Elmsdale, Tantallon, Moncton and Charlottetown, along with the Windmill Road delivery centre. The company stated that the move will support the long-term growth of these sites while ensuring customers continue to receive the same range

China's Fiscal Revenue Grows 4.7% in H1 2026 Despite Continued Property Market Weakness CHINA: China's fiscal revenue increased 4.7% year-on-year to approximately US$1.8 trillion in the first half of 2026, accelerating from 4.0% growth in January–May. Tax revenue rose 5.3%, while non-tax revenue increased 2.3%. Fiscal expenditure climbed 1.5% to around US$2.11 trillion as Beijing pledged continued support for investment and consumption through proactive fiscal policies. Howev

New Zealand Inflation Climbs to Two-and-a-Half-Year High in Q2 New Zealand: New Zealand's annual inflation rose to 4.1% in the second quarter, its highest level in two and a half years, exceeding both market expectations of 4.0% and the Reserve Bank of New Zealand's forecast of 3.9%. Quarterly consumer prices increased by 1.5%, compared with economists' expectations of 1.4%. Following the data release, expectations strengthened that the central bank could raise its official c

South Korea's Economic Growth Slows in Second Quarter South Korea: South Korea's economy is expected to have expanded by 0.4% in the second quarter of 2026, according to a Reuters poll of economists, slowing from the 1.8% growth recorded in the first quarter. On an annual basis, gross domestic product (GDP) is forecast to grow by 3.5%, compared with 3.8% in the previous quarter. Economists attributed the slower quarterly growth to weak domestic demand and consumer spending, d

US DOE Proposes New Rule to Reform Energy Efficiency Standard-Setting Process USA: The US Department of Energy (DOE) has proposed changes to its Process Rule governing how future energy efficiency standards are developed for appliances and equipment, including air conditioners and water heaters. The proposal would not repeal existing standards but aims to make future rulemaking more transparent by giving greater consideration to affordability, product availability, performanc