October 16, 2025
United States:
NY Fed Regional Services Activity Shrinks by Most Since 2021
Services activity in the New York area contracted at the fastest pace in more than four years, reflecting a sharper decline in business activity and headcount.
The Federal Reserve Bank of New York’s October index, which measures business activity in the state and parts of New Jersey and Connecticut, decreased 4.2 points to minus 23.6, figures issued Thursday showed. Readings below zero indicate contraction.
Europe:
German Economy Is Struggling to Shake Off Slump, Bundesbank Says
The German economy continues to languish, and it stagnated at best in the third quarter, according to the Bundesbank.
Industry is suffering from structural problems as well as US tariffs, low capacity utilization is weighing on investments, and a recovery in construction continues to be a long way off, Germany’s central bank said in its monthly report published Thursday.
Asia:
BOJ’s Most Hawkish Member Calls for Rate Hike Amid Price Risks
Bank of Japan Board Member Naoki Tamura called for raising interest rates as he sees increasing upside inflation risks, a view that’s consistent with his stance last month when he dissented from keeping policy steady.
“I believe that the bank is now in the phase of deciding on raising its policy interest rate,” Tamura said Thursday in a speech to local business leaders in Okinawa, southern Japan. “Thereby adjusting the degree of monetary accommodation and setting the rate a little closer to the neutral interest rate.”
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