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The Latest Breaking News on Economy

Australia's economy recovered in 2022, will it crash in 2023?

Soaring inflation and aggressive central bank hikes were the theme of 2022, but will they continue with gusto in 2023? Here's what the experts think.

ABC News

Economists place 70% chance for US recession in 2023

Economists say there is a 7-in-10 likelihood that the U.S. economy will sink into a recession next year, slashing demand forecasts and trimming inflation projections in the wake of massive interest-rate hikes by the Federal Reserve.

Tribune News Service

Scottish recession could be shallower than the rest of the UK, MSPs are told

Rebound in North Sea earnings could also boost Scotland’s relative economic performance

Insider UK

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Scotland’s recession may be shallower than elsewhere in UK , MSPs told

SCOTLAND may experience a slightly shallower recession than the rest of the UK, experts have told MSPs ...

The National (Scotland)

Australia has a plan to fix its school teacher shortage. Will it work?

All year, we have heard reports of a “crisis” in Australian schools, thanks to a shortage of teachers around the country. Federal education department modelling shows there will be a high school teacher shortfall of about 4,000 by 2025.

The Conversation

Bear Market is Back Again…

A lot has happened since my stock market (SPY) commentary last week! We nailed the interest rate hike — 50 bps, as everyone expected — and I was right that the dot plot and post-meeting commentary would spoil the party. This has certainly been a market where any bad news…

StockNews.com

Lower public debt on the cards

Thailand's fiscal status is improving thanks to a gradual economic recovery following the pandemic, which may prompt the government to lower the ceiling of the public debt-to-GDP ratio from the current 70%, according to the Public Debt Management Office (PDMO).

Bangkok Post

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Central bank upbeat on long-term growth

The Bank of Thailand expects the economy to continue to align with potential growth projections for the next two years, then strengthen in the longer term.

Bangkok Post

All options on the table in 2023: RBA

The Reserve Bank of Australia has been careful not to lock itself into a set pathway for cash rate decisions in 2023.

AAP

Budget 2023: Feeding the chooks for the general election

As election year approaches, voters want to be fed (bigger) hand-outs, and the Government wants to appease them, all while appearing fiscally responsible. Trouble is, the latest Budget Policy Statement appears anything but, especially when it comes to debt

Newsroom.co.nz

The University of South Wales facing a multi-million-pound financial deficit

The University's Vice-Chancellor Ben Calvert said its challenging financial outlook had been impacted in part by an increase in students not returning

Birmingham Post

Warning over impact cuts to school budgets will have on West Dunbartonshire pupils

WDC currently faces a budget black hole of more than £20million, with cost saving options due to be considered by members at Church Street this week including a 20 percent cut to general school budgets.

Daily Record

Freeze on alcohol duty to be extended to help UK hospitality industry

No increases until August 2023 despite Jeremy Hunt’s first full budget being scheduled for 15 March

The Guardian - UK

Chancellor Jeremy Hunt confirms spring Budget date

Office for Budget Responsibility asked to prepare a forecast

Wales Online

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The National (Scotland)

‘UK recession to last until end of next year’, say economists

THE UK economy is on track to shrink by 1.3 per cent in 2023 amid a recession which is set to last until the end of next year, according to a new…

Insider UK

Scottish budget was ‘bleak’ and public service reform required - Swinney

Council leaders condemned the spending plans, arguing they could lead to the end of some public services

The Independent UK

‘UK recession to last until end of next year’

Economists at KPMG have predicted that the UK has already entered a ‘shallow but protracted’ recession.

AAP

Small business hiring slows to standstill

Small and mid-sized businesses are still growing their ranks but the pace of expansion has eased as economic pressures bite.

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The National (Scotland)

Scottish Budget was 'bleak' John Swinney says as councils brace for services impact

Council leaders condemned the budget, saying it could lead to the end of some public services

Daily Record

John Swinney says Scottish budget was ‘bleak’ and public service reform required

The Deputy First Minister has come under fire over tax rises and the funding settlement for councils

The Independent UK

Scottish budget was ‘bleak’ and public service reform required, says Swinney

The Deputy First Minister said he had to take ‘bold action’ in the face of the cost-of-living crisis.

AAP

Insights shed light on rate hike picture

Insights into the Reserve Bank's latest decision to hike rates will likely be scrutinised as economists attempt to gauge the timing of further rises in 2023.

Caixin Global

Wang Tao: Key Takeaways From China’s Central Economic Work Conference

Stabilizing growth is the top priority, with measures to boost the real estate sector and a supportive tone for non-SOEs, foreign investors and online platforms

AAP

Australia's 2023 economic outlook unclear

There are a range of unknowns hanging over Australia's economic fortunes in 2023 but most agree a recession is unlikely.

Reason

November's $249 Billion Federal Budget Deficit Set a Record. Now, Congress Is Preparing To Spend Even More.

The government spent $501 billion in November but collected just $252 billion in revenue, meaning that about 50 cents of every dollar spent were borrowed.

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