International News 16/12
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US Producer Price Index (PPI) rises 0.4% in November, higher than expected
The US Producer Price Index (PPI) saw a more pronounced increase than anticipated in November, largely driven by a notable surge in food costs. However, there was a degree of optimism as services prices showed signs of moderation, indicating a continuation of the disinflationary trend. The producer price index for final demand increased by 0.4% in November, exceeding the 0.3% growth observed in October. Analysts had anticipated a 0.2% growth. The Producer Price Index (PPI) increased by 3.0% in the 12 months leading up to November, up from 2.6% in October. Meanwhile, consumer prices have increased for the seventh consecutive month, with underlying price pressures rising for the past four months. Despite this, the Federal Reserve is expected to cut interest rates for the third time in order to support the cooling labour market. Food prices, especially egg prices, have risen significantly due to the bird flu outbreak, while energy prices have increased slightly.
Here are 3 major US industries hit hard by China's mineral export ban
China's recent decision to ban the export of certain key minerals to the United States has had a significant impact on American industry. The move highlights the high stakes involved in the ongoing trade war between China and the US. The Chinese Ministry of Commerce recently announced a ban on the export of antimony, gallium, germanium and 'superhard materials' to the US in response to Washington's strict controls on semiconductor technology. The US considers such technology to be a national security threat because of its potential military applications. The export ban has raised concerns in Washington about American industry's dependence on Chinese minerals and the urgent need to find alternative sources. China's Ministry of Commerce has accused the US of politicising and weaponising trade and technology. The latest move is part of an escalating trade war that has seen tariffs and counter-tariffs imposed by both countries. Some analysts say these export restrictions could benefit the Chinese economy