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The Latest Breaking News from GDP

ExxonMobil and Chevron shatter profit records; eurozone inflation hits record 8.9% – business live

US oil companies post huge earnings, as sky-high fuel costs hit consumers and drive up inflation

The Guardian - UK

JP Morgan retains growth forecast at 3%

JP Morgan has maintained its Thai GDP growth forecast at 3% this year, driven by consumption and tourism.

Bangkok Post

When does a recession begin – and is the US in one now?

Question weighs on consumers, politicians and investors around the world as the Federal Reserve raises interest rates

The Guardian - US

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read the most diverse news in one place.

US economy shrinks in second quarter, signaling unofficial start of recession

The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season

The Guardian - US

U.S. economy just had a 2nd quarter of negative growth. Is it in a recession?

GDP shrank for a 2nd quarter in a row. While two consecutive quarters of negative growth is often considered a recession, it's not an official definition. Parts of the economy are clearly struggling.

WEKU

US economy likely grew modestly, if at all, last quarter

After going backward from January through March, the U.S. economy probably didn’t do much better in the spring

The Independent UK

Report: Federal debt lower in 2022; still poised to climb

The Congressional Budget Office says the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast

The Independent UK

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US economy seen narrowly averting back-to-back contractions

The U.S. economy may have eked out modest growth in the second quarter, skirting back-to-back quarterly contractions, but rising at a tepid enough pace to feed concerns of an eventual downturn.

Tribune News Service

How costly political realities undercut Ghana's electricity reforms

Ghana reformed its electricity sector by the book but has lurched from blackouts between 2012 and 2015 to a glut of energy which costs government about 5% of GDP. Fitch ranks the energy sector as the biggest driver of national debt. How did this happen? It’s a classic case of…

The Conversation

IMF Raises Saudi Economic Growth Forecasts

The International Monetary Fund (IMF) has raised its 2023 growth forecasts for Saudi Arabia’s economy by 0.1% from April to 3.7%. It maintained its projections for the Kingdom’s economic growth during 2022 at 7.6% compared to 4.4% in January. This was revealed Tuesday in its World Economic Outlook report for…

Asharq Al-Awsat

Whose GDP is it anyway?

It is time for political leaders to clamour for an overhaul of India’s economic performance measurement framework

The Hindu

EXPLAINER: How do we know when a recession has begun?

By one common definition, the U.S. economy is on the cusp of a recession

The Independent UK

IMF Cuts Global Growth Outlook, Warns High Inflation Threatens Recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a…

Asharq Al-Awsat

Five key things to know about the "is this a recession" controversy

It's hard to recall a White House deploying as much effort to pre-spin economic data.

Axios

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Reuters

Spain raises inflation forecast for 2022, lowers GDP growth target for 2023

Spain raised its inflation forecasts for 2022 and 2023 and lowered its economic growth target for 2023, Economy Minister Nadia Calvino said on Tuesday, citing the war in Ukraine for its continued negative impact on European economies.

The Independent UK

Biden fights talk of recession as key economic report looms

President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession

Axios

Biden's juggling act: Recession optimism could backfire

"I don't think, God willing, we're going to see a recession," Biden said Monday. "I'll be surprised."

The New Daily

Tech company earnings, US GDP and Australian inflation to dominate markets this week

US mega tech companies Microsoft, Google, Meta, Apple and Amazon all report earnings this week. It's one of five big stories influencing global markets.

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Benzinga

Elon Musk Denies Affair With Google Co-Founder Sergey Brin's Wife, Putin Health Rumors, Monkey Pox Global Emergency And More: Key Stories You May Have Missed From This Weekend

The unfolding week is likely to test the nerves of investors, as they get to digest major market-moving catalysts, both on the economic and corporate fronts. A Fed meeting, second-quarter U.S. GDP data, and big tech earnings, all make things interesting. Ahead of the news-heavy week, here's a recap of…

The Hindu

Weighing in on India’s investment-led revival

Prospects of sustaining investment recovery are likely to get harder with a depreciating rupee and rising inflation

Bangkok Post

Why Sri Lanka imploded so catastrophically

As Sri Lanka's economy unravels before our eyes, one must ask how this could happen in a country historically known for its high standard of living and stable economy. Sri Lanka's achievements go back decades, giving it a per capita GDP that is 70% higher than India's, and a life…

Asharq Al-Awsat

Egypt’s Economy Seen Growing Steadily

Egypt’s economy will grow fairly steadily over the coming three years, with inflation gradually declining from over 10% and the pound weakening in the near-term, a Reuters poll showed. Gross domestic product (GDP) is forecast to expand a median 5.5% in the fiscal year that began this month, according to…

The Times of India

ADB cuts India GDP forecast for FY23 to 7.2% on Covid, war impact amid inflationary pressure

NEW DELHI: Asian Development Bank (ADB) on Thursday trimmed India's economic growth forecast for current fiscal year to 7.2 per cent from 7.5 per cent as pandemic and war impact is weighing down alongside inflationary pressures.

Asharq Al-Awsat

UAE Real GDP up 8.2% in Q1 2022

The UAE central bank’s quarterly report indicated that total real GDP increased by 8.2% annually in the first quarter of 2022, state news agency said on Wednesday. The central bank expects real GDP to grow by 5.4% in 2022 and 4.2% in 2023, the statement added. It also expects non-oil…

The Conversation

United States: the end of an illusion of omnipotence

“I do not accept second place for the United States of America.” That simple statement, delivered to rousing effect by Barack Obama in his first State of the Union, in January 2010, managed to summarize the current American strategic horizon in a single sentence.

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