Taking Stock

November 13, 2024September 12, 2025

Why has Sumsung fallen behind in the AI boom?

Samsung’s struggle in the AI race

Samsung, previously a powerhouse in the semiconductor industry, has encountered significant hurdles in the AI competition, leading to a notable decline in market value. The company’s faltering stance can be attributed to a variety of factors, such as strategic errors, fierce competition, and swift technological progress in the AI field.

Missteps

A key factor in Samsung’s downturn in the AI sector is its insufficient investment in high-bandwidth memory (HBM) technology, which is vital for AI applications due to its ability to expedite data processing and enhance performance.

Although Samsung was once at the forefront of memory technology, it did not leverage the increasing demand for HBM, thus ceding ground to competitors such as SK Hynix. SK Hynix made significant investments in HBM and forged a robust partnership with Nvidia, an influential entity in the AI domain.

Competition

The AI sector is fiercely competitive, featuring key companies such as Nvidia, Google, and Microsoft, which are making substantial advancements in AI technology. Nvidia has notably become a frontrunner with its GPUs, crucial for AI training. Samsung’s struggle to match these developments has resulted in a decline in both market share and revenue.

Rapid technological advancements

The swift advancement of technology in the AI sector has presented challenges for Samsung. The company’s emphasis on conventional memory technology did not fully prepare it for the transition to AI-centric applications. With the rise of AI applications such as OpenAI’s ChatGPT, the need for sophisticated memory solutions surged, highlighting Samsung’s insufficient investment in High-Bandwidth Memory (HBM) as a notable shortcoming.

Financial implications

Samsung’s difficulties in the AI sector have significantly affected its finances. The company has seen a reported loss of around $122 billion in market value since July 2024, marking the most substantial drop among global chipmakers. This decline is largely due to Samsung’s challenges in adapting to the evolving AI industry and competing with its rivals.

Prospects

Despite facing challenges, Samsung is actively striving to advance in the AI domain. The company has recently introduced its next-generation Bixby AI, which utilizes large language model technology, positioning it to better contend with competitors such as ChatGPT and Google Gemini.

Additionally, Samsung is cultivating its proprietary AI model, named Samsung Gauss, with the goal of augmenting device functionality and elevating the consumer experience.

Samsung’s lag in the AI sector is due to strategic errors, fierce competition, and swift technological progress. Despite considerable financial setbacks, the company is vigorously pursuing new AI initiatives and investments to recover its standing in the industry.

The path forward is fraught with challenges, yet Samsung’s commitment to innovation and adaptation could enable it to regain its status as a frontrunner in the AI domain.

November 12, 2024September 12, 2025

Elon Musk wants to make Tesla a $25 trillion company by 2040

Elon Musk’s Vision for Tesla’s Trillion Dollar Future

Elon Musk, the visionary CEO of Tesla, has consistently set ambitious goals for the company. Among his most audacious claims is that Tesla could potentially become a multi trillion-dollar company and even reach a valuation of $25 trillion, largely driven by the deployment of robotaxis.

Robotaxi vision

Tesla’s robotaxi concept is centred around autonomous vehicles that can operate as self-driving taxis. These vehicles are equipped with Tesla’s Full Self-Driving (FSD) technology, which Musk believes will revolutionize transportation. By transforming Tesla cars into autonomous ride-sharing vehicles, the company could generate significant revenue without increasing the number of cars sold.

Projections

Musk’s financial projections are based on the immense potential of the robotaxi market

Revenue Generation: Each Tesla vehicle could earn substantial income as a robotaxi. If Tesla owners opt into the robotaxi network, Tesla could take a share of the revenue generated from these rides.
Cost Efficiency: Autonomous driving reduces the need for human drivers, leading to lower operational costs. This efficiency could make robotaxis more affordable for users and highly profitable for Tesla.
Reduced pollution: will help meet green energy goals.
Market Penetration: As autonomous technology matures, the adoption of robotaxis could grow rapidly, capturing a significant share of the global transportation market.

Market potential

The global ride-hailing market is already valued at hundreds of billions of dollars, and with the introduction of autonomous vehicles, this market is expected to expand further. Tesla’s early entry and continuous advancements in FSD technology position it to be a dominant player in this space.

Challenges

While the potential is enormous, there are several challenges and scepticism surrounding Musk’s projections

Regulatory Hurdles: Autonomous vehicles must navigate a complex regulatory landscape. Approval processes and safety standards vary by region, which could delay widespread adoption.
Technical Milestones: Achieving full autonomy is a significant technical challenge. Tesla’s FSD technology is still in development, and perfecting it for widespread use requires overcoming numerous technical obstacles.
Market Competition: Tesla is not the only player in the autonomous vehicle market. Competitors like Waymo, Cruise, and traditional automakers are also investing heavily in autonomous technology.

Conclusion

Elon Musk’s vision of making Tesla a trillion-dollar and eventually a $25 trillion company through robotaxis is both bold and captivating. The success of this vision hinges on the successful deployment and adoption of autonomous driving technology. While there are significant challenges to overcome, Musk’s track record of defying odds and achieving groundbreaking innovations keeps the possibility within the realm of achievable dreams.

The future of transportation, as envisioned by Musk, could fundamentally reshape how we move and how Tesla thrives as a pioneer in autonomous mobility.

Tesla’s future does seem promising with the introduction of Optimus, their humanoid robot, as well as their advancements in solar energy and battery technology.

The future looks very bright for Tesla.

November 11, 2024September 12, 2025

Bitcoin breaks $82,000 with billions bet on it reaching $90,000

Bitcoin has achieved a new all-time high, surpassing $82,000, and has continued to climb.

This suggests that investors are confident the world’s leading cryptocurrency will gain even more, following U.S. elections that resulted in a significant number of pro-crypto candidates being elected.

During his campaign, President-elect Donald Trump vowed to make the United States the ‘crypto capital of the world.’

Trump reportedly committed to several initiatives for the crypto community, such as creating a national cryptocurrency reserve using $16 billion in Bitcoin accumulated by the U.S. government from asset seizures and from reducing interest rates.

Generally, an easing of monetary policy aligns with an increase in cryptocurrency prices, as it lowers the cost of borrowing money.

The Fed recently lowered U.S. interest rates for the second time this year.

November 11, 2024September 12, 2025

U.S. stocks just keep hitting new highs!

The U.S. stock market sunbathed in another day of records on Friday 8th November 2024.

The Dow and S&P 500 recorded their best week in a year after Trump’s election win.

The Dow Jones Industrial Average rose 259.65 points to close at 43,988.99 and broke the 44,000 barrier in intraday trading. The Dow Jones traded above 44,000 for the first time ever during the session.

The S&P 500 closed at 5,995.54, after briefly trading above 6,000 – a first for the S&P 500.

The tech-heavy Nasdaq Composite slowed at 19,286.78 but set an intraday record high as well.

Dow Jones one-year chart as of: 8th November 2024

S&P 500 one-year chart as of: 8th November 2024

November 8, 2024September 12, 2025

S&P 500 and Nasdaq close at new records again as Fed cuts rates

More new records set in extended U.S. post-election rally

The S&P 500 and Nasdaq climbed on Thursday 7th November 2024, extending the rally following the victory of President-elect Donald Trump, while traders considered the implications of the Federal Reserve’s recent rate reduction.

The S&P 500 rose to close at an all-time high of 5,973.10, while the Nasdaq Composite increased by to end at 19,269.46, marking its first finish above 19,000.

The Dow Jones Industrial Average remained virtually unchanged, dipping slightly by less than one point to 43,729.34. During the trading session, all three indices reached new intraday highs.

Following President Trump’s electoral victory, the stock market experienced a significant rally on Wednesday 6th November 2024, with the Dow soaring by 1,500 points. The S&P 500 surged recording its best post-election day performance ever.

Post-election, the bond market has seen considerable fluctuations, with Treasury yields declining on Thursday after a sharp increase the previous day.

November 8, 2024September 12, 2025

Fed lowers U.S. interest rate by 0.25% November 2024

The Federal Open Market Committee (FOMC) has reduced its benchmark overnight borrowing rate by 0.25%, bringing it to a target range of 4.50%-4.75%.

This move follows September’s significant 0.5% cut. The overnight borrowing rate, while primarily affecting interbank lending rates, also typically impacts consumer debt products including mortgages, credit cards, auto and other loans.

November 7, 2024September 12, 2025

Bank of England lowers UK interest rate by 0.25% to 4.75%

The Bank of England cut interest rates by 0.25% Thursday 7th November 2024, even as Labour’s budget announcement confuses the outlook for future policy easing.

The anticipated reduction, marking the central bank’s second this year, lowers the key rate to 4.75%.

Financial markets had forecast a high probability of the quarter-point decrease at the November 2024 meeting, although analysts cautioned that future cuts might be postponed due to the Labour government’s tax-and-spend budget.

Investors are now awaiting remarks from Governor Andrew Bailey and his team regarding their updated economic forecast following the budget and the U.S. presidential election.

November 7, 2024September 12, 2025

Exports for China in October 2024 up sharply beating expectations

China exports reportedly rose by 12.7% year on year to $309.06 billion in October 2024 – the highest jump since March 2023 when they rose 14.8% according to recent data reports.

Imports, however, declined by a more-than-expected 2.3% in October, according to customs data.

The world’s second-largest economy is facing challenges with weakening domestic consumption and an ongoing property crisis, with exports emerging as a bright spot.

November 7, 2024September 12, 2025

The mystery surrounding the origin of Bitcoin

Bitcoin’s origin is one of the most captivating mysteries of the digital age. The cryptocurrency was created in 2008 by an unknown individual or group under the pseudonym Satoshi Nakamoto.

Despite numerous investigations, the true identity of Nakamoto remains shrouded in secrecy.

Story

The story of Bitcoin begins with the release of a whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” This document outlined a new kind of decentralised digital currency, one that relied on cryptographic principles to ensure security and prevent double-spending.

Nakamoto’s revolutionary vision was to create a financial system free from the control of traditional banks and government interference.

Genesis block

In January 2009, Nakamoto mined the first block of the Bitcoin blockchain, known as the ‘genesis block,’ marking the birth of the cryptocurrency. Over the next couple of years, Nakamoto continued to work on the project, communicating with other developers via email and online forums.

The mystery surrounding the origin of Bitcoin

However, by 2011, Nakamoto had largely stepped away from active involvement in the project, leaving behind a legacy that would forever change the financial landscape.

Speculation

Speculation about Nakamoto’s true identity has been rampant. Some believe Nakamoto is a single, exceptionally talented individual, while others theorise that it could be a group of developers working under a collective pseudonym.

Over the years, various names have been proposed as possible candidates, including renowned cryptographers, developers, and even eccentric entrepreneurs. Yet, none of these theories have been definitively proven, and Nakamoto’s identity remains a closely guarded secret.

Intrigue

The intrigue surrounding Nakamoto is not just a matter of curiosity but also of financial significance. As the creator of Bitcoin, Nakamoto is estimated to own around one million Bitcoins. At current market values, this makes Nakamoto one of the wealthiest individuals in the world.

Bitcoin chart from inception as of 7th November 2024 touching $75,000

However, these Bitcoins have never been moved or spent, adding to the enigma of Nakamoto’s motives and intentions.

Myth?

The myth of Satoshi Nakamoto has taken on a life of its own, becoming a symbol of the power and potential of decentralized technology. The anonymity of Nakamoto also serves as a reminder of the core principles behind Bitcoin: privacy, decentralisation, and freedom from traditional financial systems.

In a world increasingly dominated by surveillance and control, the mystery of Nakamoto provides a compelling counter-narrative, one that continues to inspire and intrigue both technologists and libertarians alike.

In the end, the true identity of Satoshi Nakamoto may never be revealed, and perhaps that is as it should be. The enduring mystery adds to the allure of Bitcoin, ensuring that its origins will forever be a topic of fascination and debate.

November 7, 2024September 12, 2025

Bitcoin and altcoins rocket to new highs hot on the heels of Trump win!

Bitcoin, which could benefit from relaxed regulation, soared to an all-time high and topped $76,000.

Bitcoin rallied Wednesday 6th November 2024, hitting all-time highs as former President Donald Trump defeated Vice President Kamala Harris to win the election an become the 47th U.S. president.

The price of Bitcoin touched a fresh record of $76,493.86.

Bitcoin one-month chart as of 6th November 2024 – New high!

Bitcoin hits new all-time high of $76,493.86 6th November 2024

Trump’s support for crypto

The ‘noises’ around the Trump trade for crypto are reportedly of deregulation, potential tax cuts for an asset that is both held long term but also day traded, less dependency on government financial institutions and the Fed and maybe seen as an alternative as a decentralised currency. Trump has previously indicated support of risk assets and the growth of crypto.

Ether surged 11%, while Solana, rocketed 13%. Payment system token XRP jumped more than 5%. Meanwhile, Meme coins soared, with Dogecoin up more than 15%.

Shares of Coinbase surged around 31%%, posting its best day on record since its first day of trading. MicroStrategy, which has a high correlation play on the price of Bitcoin, advanced 13%.

November 7, 2024September 12, 2025

Dow hits new all-time high as Trump wins 2024 U.S. election

The Dow, S&P 500 and Nasdaq all hit new highs!

Stocks rallied sharply on Wednesday 6th November 2024, with major indices hitting record highs, as Donald Trump won the 2024 presidential election.

It looks like the Trump rally has already begun.

The Dow Jones Industrial Average surged 1,508.05 points to a record close of 43,729.93. The last time the Dow jumped more than 1,000 points in a single day was in November 2022.

The S&P 500 also hit an all-time high, soaring to 5,929.04. The Nasdaq Composite climbed to a record of its own too of 18,983.47.

Dow Jones one-year chart as of 6th November 2024

S&P 500 one-year chart as of 6th November 2024

Nasdaq Composite one-year chart as of 6th November 2024

November 6, 2024September 12, 2025

Oops I did it again! Trump wins 2024 U.S. presidential election – emphatically defeating Harris

After losing the re-election to President Joe Biden in 2020, Donald Trump, the 45th president, has now been elected as the 47th.

Trump’s victory sets several historic records. At the age of 78, he becomes the oldest individual to win a U.S. presidential election. He is the first president to serve two nonconsecutive terms since Grover Cleveland 132 years ago, and his win comes from what is likely the costliest presidential race in history.

Also, he is reportedly the first president, whether in office or former, to have been convicted of crimes. He is also the first president to be impeached twice and then reclaim the presidency. Additionally, he is the first to assume office while actively facing criminal charges in both federal and state courts.

This victory for Trump prevents Vice President Harris from achieving what would have been a historic feat: becoming the first female president of the United States.

As Trump secures win stock markets react positively as Dow and S&P 500 futures rise to touch new all-time highs!

November 5, 2024September 12, 2025

“The ballot is stronger than the bullet” – Abraham Lincoln

Abraham Lincoln, 1809 -1865

Abraham Lincoln, the 16th President of the United States, led the nation through the Civil War and played a crucial role in the abolition of slavery. He is remembered for his leadership, eloquence, and dedication to preserving the Union.

Abraham Lincoln was assassinated on 14th April 1865. He was shot in the back of the head by John Wilkes Booth while attending a play at Ford’s Theatre in Washington, D.C. Lincoln succumbed to his injuries the following morning.

It was a tragic end to the life of a remarkable leader.

Wikipedia

November 5, 2024September 12, 2025

Don’t waste your money on expensive jeans – so says this study!

A recent study by the University of Leeds, in collaboration with Primark, found that a pair of women’s jeans costing just £15 were more durable than a pair costing £150.

The research tested 65 clothing items, including jeans, hoodies, and T-shirts, to set standards on how long clothing should last. They used equipment that can simulate years of wear and tear in a matter of hours.

Interestingly, the study revealed no correlation between price and durability. This means that higher-priced items aren’t necessarily more durable than cheaper ones. Primark plans to use these findings to improve the durability of their products and provide better value for customers.

So, for durability… buy the cheaper option. I have no idea about the design and style though.

November 4, 2024September 12, 2025

Is Switzerland about to experience deflation?

Switzerland may be at risk of entering deflationary territory in 2025 due to the strengthening of the Swiss franc, which is challenging policymakers’ control over price growth.

The Swiss National Bank has lowered interest rates three times this year as of September, attributing the country’s declining inflation rate to the robustness of the safe-haven currency, as well as to falling oil and electricity prices.

Analysts increasingly believe that the Swiss National Bank may need to engage in foreign currency intervention to avert a deflationary scenario.

Furthermore, the central bank has adjusted its forecasts downward, setting the average annual inflation rate for 2024 at 1.2%, down from 1.3%, and anticipating a price growth of 0.6% in 2025, a decrease from the previously forecasted 1.1%.

November 4, 2024September 12, 2025

Nvidia promoted to Dow Jones Industrial Average at the expense of Intel

Nvidia is set to replace its rival chipmaker Intel in the Dow Jones Industrial Average, signifying a significant change in the blue-chip index that highlights the surge in artificial intelligence and a substantial shift within the semiconductor industry.

Intel’s shares fell by 1% in extended trading on Friday 1st November 2024, while Nvidia’s shares increased by 1%. Intel has now lost over half its value.

The update will take place on 8th November 2024. Also, Sherwin Williams will replace Dow Inc. in the index, the S&P and Dow Jones said in a statement.

Nvidia‘s shares have surged over 170% in 2024, following a roughly 240% increase last year, as investors flock to the AI chipmaker. Nvidia’s market capitalisation has expanded to $3.3 trillion, ranking it second only to Apple among publicly traded companies.

Nvidia one-year share price chart

Major companies such as Microsoft, Meta, Google, and Amazon are acquiring Nvidia’s graphics processing units (GPUs), like the H100, in large quantities to create computer clusters for AI projects. Nvidia’s revenue has more than doubled for five consecutive quarters, with at least a threefold increase in three of those quarters. The company has indicated that the demand for its forthcoming AI GPU, Blackwell, is ‘insane’.

With Nvidia‘s inclusion, four of the six tech companies valued at over a trillion dollars are now part of the index, leaving Alphabet and Meta as the two not listed in the Dow.

November 2, 2024September 12, 2025

U.S. economy added just 12,000 jobs in October 2024

In October 2024, non-farm payrolls saw an increase of 12,000, a significant drop from September’s figures and falling short of the 100,000 predicted

The unemployment rate remained steady at 4.1%, meeting expectations.

The rate of job growth in October 2024 was the slowest since the end of 2020, hindered by the effects of storms in the and a considerable labour standoff (strike action), which impacted the overall employment picture.

According to the Bureau of Labor Statistics‘ Friday report, the modest increase in nonfarm payrolls for October, which was already anticipated to be subdued, marked the smallest rise since December 2020.

U.S. monthly job creation

November 1, 2024September 12, 2025

China’s manufacturing output expands in October 2024 according to survey

China’s factory activity jumped back into expansion among smaller manufacturers in October 2024, according to a private survey report released on Friday 1st November 2024.

In October 2024, the Caixin/S&P Global manufacturing purchasing managers’ index reached 50.3, surpassing the prediction of 49.7.

The index stood at 49.3 in September 2024, 50.4 in August, and 49.8 in July. A PMI figure above 50 signifies an expansion in activity, whereas one below 50 suggests a contraction.

Following the release of the official PMI data on Thursday 31st October 2024, which showed the first expansion in the country’s manufacturing activity since April 2024, the Caixin measure, which typically reflects the performance of exporters and private sector firms, contrasts with the official PMI that includes larger and state-owned enterprises.

November 1, 2024September 12, 2025

Apple, Amazon and Intel all post positive results 31st October 2024

Apple

Apple’s fourth-quarter results surpassed Wall Street forecasts for revenue and earnings per share. However, net income declined due to a one-time charge related to a tax settlement in Europe.

iPhone sales and overall sales both rose by 6%.

Amazon

Amazon’s shares soared in after-hours trading following the announcement of earnings and revenue that exceeded expectations. The firm’s cloud services and advertising divisions demonstrated significant expansion.

Intel

Intel has reported earnings that surpassed expectations and provided improved guidance. The company is currently undergoing a significant restructuring initiative.

However, Intel has now lost over half its market value.

November 1, 2024September 12, 2025

Super Micro Computer drops 33% after disclosing ‘auditor’ resignation – 30th October 2024

Super Micro Computer’s shares dropped 33% in premarket trading 30th October 2024, following the announcement in a regulatory filing that Ernst & Young had stepped down as its accounting firm.

The filing revealed that EY had expressed doubts about the AI server company’s “commitment to integrity and ethical values” during accounting reviews.

Super Micro had been included in the S&P 500 index in March 2004.

Super Micro one month chart snapshot 30th October 2024

Further update – 1st November 2024

Super Micro’s sell-off persisted on Friday, November 1, 2024, with the stock falling an additional 10%, culminating in a 44% loss for the week.

The most significant drop occurred on Wednesday 30th October 2024, following the company’s announcement of losing its second auditor in under two years.

Super Micro, currently behind schedule in submitting its latest annual report, has announced it will deliver a ‘business update’ for the most recent quarter on Tuesday 5th November 2024, coinciding with Election Day in the U.S.

November 1, 2024September 12, 2025

Volkswagen profit plunges 42% in third quarter

Volkswagen’s operating profit fell to 2.86 billion euros ($3.1 billion), with third-quarter sales revenue experiencing a 0.5% year-on-year decrease to roughly 78.5 billion euros.

These figures come after Volkswagen lowered its annual outlook for 2024 last month, which was the second adjustment within a few months.

The company has recently encountered several challenges, including potential plant closures in Germany and the cancellation of many labour contracts with local workers in September 2024.

According to Volkswagen, vehicle sales reportedly dropped by 8.3% in the third quarter of 2024, compared to the same period the previous year.

Reports indicate that the Volkswagen Group’s net liquidity was negative 160.6 billion euros at the end of September 2024. At the end of 2023, the company’s net liquidity was negative 147.4 billion euros.

November 1, 2024September 12, 2025

Microsoft and Meta both indicate future AI spending will cut into next quarter profits

Microsoft’s significant investment in OpenAI is impacting its earnings – 30th October 2024

The company reportedly indicated, following the quarterly earnings report, that Microsoft anticipates a $1.5 billion reduction in income for the current period, primarily due to projected losses from OpenAI.

Microsoft’s nearly $14 billion investment in OpenAI, the creator of the widely popular ChatGPT assistant, has catalysed the emergence of the generative artificial intelligence industry, leading to billions in new revenue for Microsoft.

Despite this, OpenAI is experiencing substantial financial losses. It is projected to incur $5 billion in losses this year, excluding stock-based compensation, against $4 billion in revenue, according to reports from earlier this month.

Microsoft’s stock declined following weaker-than-expected revenue guidance, despite exceeding earnings expectations.

The company’s revenue reportedly increased by 16% in the fiscal first quarter, outpacing analyst predictions.

Earnings from Azure and other cloud services reportedly rose by 33%, exceeding forecasts.

Nevertheless, the projected revenue growth did not meet analyst expectations.

U.S. inflation rate hits 2.1% in September 2024

Inflation saw a modest rise in September 2024, edging closer to the Federal Reserve’s target, as reported by the Commerce Department on Thursday 31st October 2024.

The personal consumption expenditures (PCE) price index recorded a seasonally adjusted increase of 0.2% for the month, and the year-over-year inflation rate stood at 2.1%, aligning with predictions. The PCE index is the Fed’s preferred inflation measure, although officials monitor various other indicators as well.

The Fed aims for a 2% yearly inflation rate, a benchmark not met since February 2021.

Despite the main figure indicating that the central bank is approaching its objective, the inflation rate, excluding food and energy, was at 2.7%. This core inflation metric rose by 0.3% monthly, with the annual rate exceeding expectations by 0.1 percentage points.

This report arrives as markets strongly anticipate the Fed will reduce its benchmark short-term interest rate at the upcoming meeting. In September 2024, the Fed made a significant half-percentage-point rate cut, a rare action during an economic upturn.

Officials remain optimistic that inflation will realign with their target, yet they are wary about the labour market’s condition, even as most data suggests steady hiring and low layoff rates.

October 31, 2024September 12, 2025

Euro zone inflation rises to higher-than-expected 2%

Inflation in the euro zone increased from 1.7% to 2% in October 2024, according to latest figures released on Thursday 31st October 2024, exceeding the forecast of 1.9%. weakening case for jumbo rate cut

Both core inflation and services inflation reportedly remained the same as the previous month.

The markets are anticipating a 0.25% reduction in interest rates by the European Central Bank in December 2024, while analysts have suggested that the latest figures could sway the argument against a more substantial cut.

A reduction of 0.5% has been muted but is now less likely.

October 31, 2024September 12, 2025

Germany’s inflation climbs to 2.4%

In October 2024, Germany’s inflation rate rose to 2.4%, as per the preliminary figures from the Federal Statistical Office, Destatis

This increase defied the expectations of analysts, who had predicted a 0.1% decrease, thus narrowly preventing Germany from entering a technical recession, defined by two successive quarters of economic decline.

The inflation rate is adjusted for consistency across the eurozone.

Following this, Destatis released a preliminary report earlier on Wednesday 30th October 2024 showing that Germany’s GDP grew by 0.2% in the third quarter, in comparison to the preceding three months.

Previously, inflation had fallen to 1.8% in September 2024, after reaching the European Central Bank’s target of 2% in August.

October 30, 2024September 12, 2025

U.S. economy grew at 2.8% in the third quarter -below expectations

The U.S. economy experienced another growth spurt, albeit slightly underwhelming, growth period in the third quarter, driven by strong consumer spending that has surpassed slowdown expectations

The gross domestic product (GDP), which gauges all goods and services produced from July through September 2024, rose at a 2.8% annualised pace, as per the inflation and seasonality-adjusted Commerce Department report released Wednesday 30th October 2024.

This report verifies that the U.S. growth persists, notwithstanding high interest rates and persistent concerns that the surge of fiscal and monetary stimulus, which supported the economy during the Covid crisis, might not suffice to maintain growth.