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The Latest Breaking News on Economy

The federal budget: an overview

In 2023, the US government brought in $4.47 trillion and spent $6.16 trillion.

USAFacts

Why neither growth nor degrowth make sense as long-term objectives for Australia’s economy

What we need to reduce is the ‘throughput’ of the residual industrial economy

The Guardian - AU

UK Economic Recovery Improves As Election Looms

Gross domestic product expanded by 0.7 percent in the first three months of this year, the Office for National Statistics (ONS) said in a statement, upgrading the prior estimate of 0.6-percent expansion and beating market expectations for no change.

Latin Times

From analysis to the latest developments in health,
read the most diverse news in one place.

Second budget surplus in reach as inflation runs hot

Another forecast budget surplus would help in the fight against rising prices, says the government amid pressure over the latest hot inflation readout.

AAP

£10,200: How much worse off Britons are after 14 years of Tory rule

Britons have lost the equivalent 15 weeks of wages based on comparisons with pre-2010 growth trend.

Al Jazeera

The Guardian view on councils in need: voters should be told what the parties’ plans are

Editorial: Some of the most acute public service problems are local ones. But plans for local government are missing from this election

The Guardian - UK

Kiplinger Special: The Long-Term Future of the U.S. Economy

Kiplinger's report into what it will take the U.S. to maintain a healthy economic growth rate.

Kiplinger

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NSW budget: treasurer sets scene for restraint as state faces $10bn deficit over four years

Hopes of return to surplus dashed as Labor blames ‘unfair’ GST carve-up

The Guardian - AU

UK economy flatlines in fresh blow to Rishi Sunak’s election hopes

The economy flatlined due to wet weather hitting retail sales over the Easter period, following growth of 0.4% in March

The Independent UK

Chalmers eyes soft landing amid budget criticism

The pressure on Australia's economy from higher interest rates justifies the decision not to deliver a "slash and burn" budget, Treasurer Jim Chalmers says.

AAP

Pre-election UK interest rate cut unlikely despite cooling jobs market and rising mortgage arrears; Moody’s warns France over snap election – as it happened

Latest UK labour market report shows signs of cooling, as jobless rate hits highest since 2021

The Guardian - UK

Is the US economy doing well? It depends if you ask a Democrat or a Republican

Data shows that when Americans’ preferred party is in the White House, they’re more likely to boast of a booming economy – even if it’s untrue

The Guardian - US

Is the US job market beginning to weaken? Friday's employment report may provide hints

Tentative signs have begun to emerge that the U.S. economy is cooling in a way that would be welcomed by the Federal Reserve’s inflation fighters: Companies are posting fewer available jobs, consumer spending has slipped and wage growth, while still healthy, is gradually slowing

The Independent UK

Japan Household Spending Sees First Rise In 14 Months

Japan's household spending rose in April for the first time in 14 months, official data showed Friday, as wages grow at the fastest pace in three decades.

International Business Times

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International Business Times

Asian Markets Swing As Traders Eye Major US Jobs Report

Asian markets fluctuated Friday and investors trod cautiously ahead of US jobs data that could play a key role in the Federal Reserve's plans for cutting interest rates, with the bank's next policy decision looming next week.

The Guardian - UK

Watchdog ends investigation into description of UK economy ‘going gangbusters’

Exclusive: ONS official’s remarks, not intended as comment on overall state of the economy, were later used by Sunak

Kiplinger

Stock Market Today: Stocks Rise as JOLTS Lifts September Rate-Cut Odds

The main indexes gained ground Tuesday after data showed job openings fell to a three-year low in April.

AAP

Wages bump unlikely to concern Reserve Bank: economists

A 3.75 per cent boost to minimum wages and awards will deliver a small real gain to millions of Australian workers without throwing fuel on the inflation fire.

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Axios

The great nonpartisan divide that's plaguing Americans

This divide has persisted for years since the pandemic.

The Independent UK

Washout for UK retailers in pre-election blow for Rishi Sunak

Retail sales across the UK plunged by 2.3 per cent in April, following a 0.2 per fall in March, figures revealed

Reason

Congress' Budget Process Is Broken. Here's One Idea for Fixing It.

Lawmakers should be freed from "the dead hand of some guy from 1974," says former Congressional Budget Office director.

The Independent UK

Where the inflation and national debt figures leave Sunak’s five priorities

Most of the Prime Minister’s five priorities had not been achieved by the end of last year.

The Independent UK

Inflation: Why has it fallen and what it means for you

April’s inflation rate of 2.3% means that if an item cost £100 a year ago, the same thing would now cost £102.30

The Guardian - US

Majority of Americans wrongly believe US is in recession – and most blame Biden

Exclusive Harris poll for the Guardian shows 55% believe economy is shrinking, in troubling sign for president’s re-election bid

AAP

Queensland budget forecast to be at least $3b deficit

Queensland's treasurer has revealed the upcoming budget will forecast a $3 billion deficit as the government spends on cost-of-living relief measures.

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