Asia, especially China, is an area of certainty amid global uncertainty, according to an annual economic outlook report released at the Boao Forum in Hainan.
Ratings agency Moody’s said Wednesday it maintained a “negative” outlook on China’s banking sector due to a drawn out recovery from Covid controls.
The firm, part of the big three rating services, said it was making the move in light of key bank failures.
Lowe’s issued a conservative outlook for the next fiscal year as the home improvement sector faces pressure from a shift in consumer spending.
OECD Secretary-General Mathias Cormann said the global economic outlook is looking slightly “brighter” for this year but inflation challenges remain.
The big-box retailer gave a weaker-than-expected outlook for the year ahead.
Home Depot fell short of Wall Street’s sales estimates due to a drop in lumber prices and provided a muted outlook for the next fiscal year.
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