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The Latest Breaking News from Economy

In an economy blighted by inflation, Australians like Dimuthu are collateral damage

Dimuthu Peterson is building a home and is trapped between rising rates and rents. The Perth mother feels hopeless in the current economy dogged by inflation.

ABC News

Deputy premier hopeful for 2023

Thailand's economy should not succumb to the global economic slowdown projected for next year, but rather continue its recovery propelled by new infrastructure development and increasing digital know-how among people, says Deputy Prime Minister Supattanapong Punmeechaow.

Bangkok Post

Biden says GDP growth undercuts ‘doomsayers’ ahead of midterms

WASHINGTON — The latest U.S. economic data shows that the economy “is continuing to power forward” and is not in a recession, President Joe Biden said.

Tribune News Service

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Kiplinger GDP Outlook: Goldilocks Economy Neither Hot nor Cold

In the latest Kiplinger GDP forecast, we expect modest-to-moderate growth in the second half of 2025 and through 2026.

Kiplinger

Housing is hammered in the Fed's war on inflation

New GDP data show sharp contraction in residential investment.

Axios

Even as US economic recovery rebounds, demand stalls

US economy snapped two straight quarters of GDP decline to grow 2.6 percent, but domestic demand weakened.

Al Jazeera

Is It Time to Sell These 2 Beloved Tech Stocks?

Interest rate increases look all set to persist. Therefore, slowing demand, rising borrowing costs, and compressed margins will likely tip the economy into recession. With the market potentially seeing significant pressure, once-popular tech stocks Snowflake (SNOW) and Palantir Technologies (PLTR) could struggle to find support due to their poor fundamentals.…

StockNews.com

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Latest GDP Numbers Aren't Calming Recession Fears

The U.S. Bureau of Economic Analysis reports that GDP grew 0.6 percent in the third quarter of 2022.

Reason

Tetchy scenes in Dail as Tanaiste Leo Varadkar calls Pearse Doherty 'Kwasi Doherty' and compares Sinn Fein to Liz Truss' failed Tory government

The Fine Gael leader said that it would take Sinn Féin one Budget to 'wreck the economy' under 'Kwasi Doherty'

Irish Mirror

Biden says US economy ‘continues to power forward’ after growth in third quarter

‘This is a testament to the resilience of the American people’

The Independent UK

US economy returned to growth last quarter, expanding 2.6%

The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of economic contraction and overcoming punishingly high inflation and interest rates.

Chicago Sun-Times

US economy rebounds amid resilient consumers, businesses

The U.S. economy grew at a solid pace in the third quarter, marking the first advance this year as consumers proved resilient in the face of widespread inflation and the Federal Reserve’s rapid interest-rate hikes.

Tribune News Service

Let These 3 Stocks Lead You Through the Bear Market

Gloomy earning guidance halted the S&P 500’s three-day winning streak. Moreover, a recession seems apparent as the U.S. economy battles sky-high inflation, aggressive rate hikes, and geopolitical headwinds. With the bear market not over yet, we think fundamentally strong stocks Walmart (WMT), Cisco Systems (CSCO), and Vertex Pharmaceuticals (VRTX) might…

StockNews.com

US unemployment claims inched higher, but remain very low

Slightly more Americans applied for unemployment benefits last week as the labor market remains one of the healthiest parts of an uneven U.S. economy

The Independent UK

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Axios

U.S. economy grew in third quarter, rebounding after contractions

Some underlying details — including weaker housing and decelerating consumer spending — point to an economy that's slowing.

Newslaundry

‘Noticeable change’: CNN hints at jobs cuts this year

CNN has hinted at budget cuts and layoffs before the end of this year, according to the New York Times. In a memo to employees, CNN chairman Chris Licht said that concerns over the global economy had forced him to re-evaluate the company’s priorities, observing that he would make a…

The Independent UK

Global stocks mixed ahead of US GDP, Europe rates decision

Global stock markets are mixed ahead of an update on the U.S. economy and a European Central Bank meeting that is expected to raise its key interest rate to a 13-year high to fight stubbornly high inflation

WEKU

New GDP report shows an economic turnaround, but don't be fooled

Thursday's GDP report shows the U.S. economy grew at an annual rate of 2.6% in July, August and September, after shrinking in the first half of the year.

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Evening Standard

Lloyds Bank debt fears as talk of house price crash grows

FRESH fears about the UK economy emerged today when Lloyds Bank set aside more than half a billion pounds to deal with bad debts and warned on a “deteriorating” outlook.

The Independent UK

Europe likely to see another jumbo interest rate increase

The European Central Bank is getting ready to go big again

Bangkok Post

Southeast Asia digital economy slows as consumers curb spending

Growth in Southeast Asia’s internet economy is slowing after years of expansion, showing that even emerging digital markets aren’t immune to economic headwinds.

The Independent UK

EXPLAINER: What's up with the Bank of Japan's unique track?

Even as the Federal Reserve and the world’s other central banks raise interest rates to try to curb inflation, the Bank of Japan has stood firm, keeping its key interest rate at minus 0.1%

The Independent UK

US economy likely returned to growth last quarter

The problems have hardly gone away

Reason

The 'Experts' Were Never Going To Fix Inflation

The idea that the Fed has the knowledge necessary to control the economy with perfectly calibrated policies was always an illusion.

Axios

Democrats grasp for third rail in closing message focused on Social Security and Medicare

Amid signs of a growing red wave, Democrats are trying to dent the GOP's credibility on the economy.

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