Economic growth n Germany, which was just 0.3% n the first quarter, will likely take a significant hit from the effects of the Iran war in the second quarter, the federal economy ministry warned on Friday.

"Rising prices, supply chain issues and uncertainty are weighing on sentiment among businesses and households," the ministry said in its monthly report.

The UK's GDP grew by 0.6 per cent in the first quarter of 2026, following an increase of 0.2 per cent in Q4 of 2025. According to the data released on Thursday by the Office of National Statistics, the UK's official statistics agency Office, the growth was primarily driven by the services sector which expanded by 0.8 per cent.
As per the data, within the services sector, wholesale and retail trade recorded a 2 per cent increase, becoming the largest positive contributor to growth.

Inflation is the biggest risk to a U.S. economy that has shown "remarkable resilience" in the face of numerous challenges, and the job market is stable, Kansas City Federal Reserve President Jeffrey Schmid said on Thursday.

"I see continued inflation as the most pressing risk to the economy," Schmid said in prepared remarks to a banking industry conference hosted by the Kansas City Fed.

Restructuring Venezuela's sovereign debt and that of state oil firm PDVSA will bring the country "out of the shadows" of the global financial system, interim Central Bank President Luis Perez said on Thursday.

Venezuela announced on Wednesday it would begin restructuring its external debt, which has been in default since 2017 and is estimated by analysts to exceed $150 billion in unpaid bonds, arbitration awards and interest.

South Korea's newly appointed central bank board member, Kim Jin-ill, said on Friday inflation worries had heightened due to high oil prices sparked by the Middle East conflict.

Kim said economic conditions were improving led by the technology sector, but uncertainty was high over global investments while there was also the issue of inequality domestically.

On financial stability, Kim said caution was increasing over capital flow risks, while the issues of household debt and house prices also remained.

U.S. import prices surged in April, with the cost of fuels posting the largest increase in four years, another indication that the U.S.-backed war with Iran was boosting inflation.

Import prices increased 1.9% last month after an upwardly revised 0.9% rise in March, the Labor Department's Bureau of Labor Statistics said on Thursday. Economists polled by Reuters had forecast import prices, which exclude tariffs, would increase 1.0% after a previously reported 0.8% advance in March.

Britain's economy grew unexpectedly in March to cap another strong first quarter, suggesting it was in better shape as the Iran war escalated than many feared, though economists said seasonal distortions were flattering the figures.

Gross domestic product increased by 0.3% month-on-month in March, the Office for National Statistics (ONS) said, against expectations in a Reuters poll of economists for a 0.2% contraction.

Argentina's monthly inflation rate was 2.6% in April, down from the 3.4% registered in March but slightly above analysts' forecast of 2.5% despite increases in all sectors, data from national statistics agency INDEC showed on Thursday.

In the 12 months through April prices rose 32.4%, edging below the previous month's rate of 32.6% and in line with analyst forecasts.

Japan's wholesale inflation accelerated in April at the fastest pace in three years as the Iran war boosted oil and chemical goods prices, data showed on Friday, bolstering the case for the central bank to raise interest rates as soon as June.

The data came after a Bank of Japan (BOJ) policymaker called for raising rates "at the earliest stage possible" as soaring fuel costs from the Middle East war stoked price pressures.

Japan's economy is expected to have grown for a second quarter in January-March, supported by recovering exports and solid domestic demand, although the full impact of the Iran war had yet to be felt, a Reuters poll showed on Friday.

• Gross domestic product (GDP) in real terms likely expanded an annualised 1.7% in the first quarter, according to the median forecast of 17 economists, after a 1.3% expansion in October-December.

• Without annualisation, the January-March growth rate was estimated at 0.4%.

New Zealand's manufacturing index marginally expanded in April, but the sector's growth slowed to a six-month low as the conflict in the Middle East drove up costs and disrupted supply chains, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index fell to 50.5 in April, down from a revised 52.8 in March.

Vietnam's economic growth is expected to slow to 6.8% this year from an expansion of 8% last year, the World Bank said on Friday.

The country's outlook remains solid but risks remain elevated in the near term, the bank said in a statement.

• "Softer global conditions are making Vietnam's external environment more challenging, with the oil shock adding to the downside risks," WB director for Vietnam, Mariam J. Sherman, said.

Peru's central bank held its benchmark interest rate for the eighth straight time on Thursday, keeping it at 4.25%, in line with analysts' expectations, after inflation in April remained outside the bank's target range.

Peru's inflation has risen recently after a series of energy shocks sent prices soaring in March, with the monthly inflation rate jumping to an over three-decade high. Inflation eased in April, but the annual rate still climbed to 4.01% - well above the central bank's target range of 1%-3%.

Thailand's economic growth likely slowed in the first quarter of 2026 and was barely positive on a quarterly basis, according to a Reuters poll of economists, as weak local demand and a tourism slowdown linked to the Iran war offset strong AI-driven exports.

Britain's economy grew unexpectedly in March to cap another strong first quarter, suggesting it was in better shape as the Iran war escalated than many feared, though economists said seasonal distortions were flattering the figures.

Gross domestic product increased by 0.3% month-on-month in March, the Office for National Statistics (ONS) said, against expectations in a Reuters poll of economists for a 0.2% contraction.

Venezuela on Wednesday launched a restructuring of its sovereign debt and that of state oil firm PDVSA, lifting bond prices, as it seeks relief from what it called unsustainable obligations.

In a statement, the government said the “comprehensive and orderly” overhaul would cover both sovereign debt and that of PDVSA and aim for “substantial relief” from debt burdens.

US wholesale inflation accelerated sharply in April, with producer prices recording their biggest annual increase since December 2022 as the 10-week Iran war pushed up energy costs and added pressure on companies to raise prices for consumers, AP reported.

A high-stakes meeting between US President Donald Trump and Chinese President Xi Jinping is being closely watched across global markets, with investors, policymakers and businesses hoping for signs of stability after years of escalating geopolitical friction between the world’s two largest economies.

Argentina's country risk hit its lowest level since the beginning of February as confidence in the government's ability to pay back its debt grows, triggering talk about whether it is time for the South American country to return to international capital markets.

On Monday, Argentina's country risk index, a measure of how confident investors are about sovereign debt payments, tightened to 498 basis points (bps) on JPMorgan's EMBI Global Diversified Index.

Heavy-truck maker Oshkosh Corp and toy maker Basic Fun on Tuesday both said they had received partial payments of the refunds they had sought of the import tariffs they had paid under the Trump administration that were invalidated earlier this year by the U.S. Supreme Court.

The payments mark a milestone in a fraught battle over the taxes.