The White House and the Treasury have strongly disagreed with Fitch Ratings' decision to downgrade the U.S. credit rating.Fitch Ratings downgraded the U.S. credit rating by one notch to AA+, citing high debt burden at the federal, state, and local levels and a concerning decline in governance standards over the last two decades in the United States.The rating agency said that during the last 20 ye...
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.