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The Latest Breaking News on Economy

Commentary: Pay no attention to the economy behind the curtain

Anyone following the economic news coming from the Biden administration lately probably feels like Dorothy meeting the Wizard of Oz. Whether it’s data being revised from good to bad, the manipulation of statistics or indefensible exaggerations, the White House’s economic record is less impressive than it first appears. Here are…

Tribune News Service

A macro view of the fiscal health of States

A time path for revenue deficit reduction with a credible fiscal adjustment plan would help restore fiscal balance and improve quality of expenditure

The Hindu

OPINION - West End Final: The economic indicator that says we’re headed for recession

At roughly $3 trillion, the UK economy is large and contains multitudes. Not as massive as it might have been as a result of Brexit, Covid-19 and Russia’s invasion of Ukraine, but enough to rank sixth in the world.

Evening Standard

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Rising productivity is not enough to help poorer households, says think tank

A focus on wages rather than equality could see 1.8 million more people fall into relative poverty, the Resolution Foundation has warned.

The Independent UK

A mid-year assessment for the U.S. economy

So far the immaculate disinflation — what had seemed a remote scenario in which inflation comes down without a recession — has materialized.

Axios

Dutton says Labor can't take credit for budget surplus

The Labor government needs to produce more than one surplus, says the opposition leader, to prove it's serious about responsible budget management.

AAP

CBO data shows why deficits should matter again

There was a widening bipartisan sense that fiscal deficits don't really matter. Now, they do again.

Axios

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After a raucous first half of 2023, Wall Street is still wondering if recession is in the cards

Halfway into 2023, and so little on Wall Street has gone according to plan

The Independent UK

Is it a 'richcession'? Or a 'rolling recession"? Or maybe no recession at all?

The warnings have been sounded for more than a year: A recession is going to hit the United States

The Independent UK

Senior doctors’ strike signals fight over NHS pay is just beginning

While some unions have accepted government offers, ministers are still failing to address real-terms erosion in pay

The Guardian - UK

Europe's interest rates to stay high as long as needed to defeat inflation, central bank chief says

European Central Bank President Christine Lagarde is warning that inflation is holding its grip on the economy

The Independent UK

ACT budget shows population, economy are set for growth

The latest ACT budget shows the national capital is on track to become the fastest-growing state or territory in the country.

AAP

US Economy Not Headed For Recession Despite 14-month Decline Streak, Says Yardeni Research

Coincident Economic Indicators rise to record high, job openings remain strong, says report.

Zenger

Union fury at reports Sunak might overrule some public sector pay rises

Recommendations from independent pay review bodies could be rejected by PM if he deems them unaffordable

The Guardian - UK

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Manchester Evening News

Most people think the UK is already in recession

Official data shows the economy is still growing slightly, but three in five people believe the country is in recession

The Guardian - AU

NSW budget faces ‘severe challenges’ as economy slows and interest rate repayments soar

Nevertheless, Labor has confirmed it is deferring a decision on an increase to the sales tax on the Star casino group

AAP

Recession politics the latest NZ Labour blow

New Zealand's governing Labour party is trapped in a mire of blunders and bad news, the biggest of which might be the technical recession confirmed last week.

The Guardian - UK

Union leaders vow to carry on fight for better wages and working conditions

A year after start of Britain’s biggest wave of industrial action for 30 years, unions say they are are resolute

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The Independent UK

UK strikes since June 2022: The key numbers

More than half of all working days lost to strikes were in transport and communication industries.

Al Jazeera

Why is the Turkish lira’s value still falling?

Experts say the ‘suppressed’ lira is reaching its true value as they forecast a continued fall against the dollar.

Birmingham Post

Further show of strength for Northern Ireland job market despite gathering headwinds

Both unemployment and employment levels back to pre-pandemic levels, but inflation and rising interest rates temper mood

The Hindu

Data | Less than half of urban consumers pessimistic about the economy

When asked about their current perception of the economy, 48.9% said it has worsened

The Guardian - AU

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

Axios

The Fed grows confident its Goldilocks economy might come true

The U.S. may not have to sacrifice the economic gains achieved in the pandemic recovery.

Tribune News Service

Commentary: By the treasury secretary’s own definition, we’re back in recession

Last month, the Department of Commerce released troubling data on the anemic economy, showing that gross domestic income (GDI) shrank in the previous six months. That’s no surprise to half of Americans who believe we’re currently in a recession, but the data refute President Joe Biden’s claim that the economy…

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