Author: Daniel snow

Old Navy and Gap retail stores are seen as people walk through Times Square in New York City on April 9, 2025.Angela Weiss | Afp | Getty ImagesEconomic growth forecasts for the U.S. and globally were cut further by the Organisation for Economic Co-operation and Development as President Donald Trump’s tariff turmoil weighs on expectations.The U.S. growth outlook was downwardly revised to just 1.6% this year and 1.5% in 2026. In March, the OECD was still expecting a 2.2% expansion in 2025.The fallout from Trump’s tariff policy, elevated economic policy uncertainty, a slowdown of net immigration and a smaller federal…

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JIMO, CHINA – MAY 21: Car bodies are assembled at a factory of FAW-Volkswagen Automotive Co., Ltd Qingdao Branch on May 21, 2025 in Jimo, Qingdao City, Shandong Province of China. Visual China Group | Getty ImagesChina’s manufacturing activity in May shrank at its fastest pace since September 2022, a private survey showed on Tuesday, as the decline in new export orders quickened, reinforcing calls for stronger stimulus to prop up growth in the tariff-hit economy.The Caixin/S&P Global manufacturing purchasing managers’ index came in at 48.3, missing Reuters’ median estimate of 50.6. It fell below 50, the mark that separates…

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