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The Latest Breaking News from GDP

India GDP halves in September quarter as COVID distortions fade

Economists warned that growth momentum may ease in the December quarter due to higher interest rates, slowing exports.

Al Jazeera

Jordan’s Draft 2023 Budget Forecasts Lower Deficit, Steady Economic Growth

Finance Minister Mohamad Al Ississ said on Wednesday that Jordan's draft 2023 budget forecasts 11.4 billion dinars ($16 billion) in state expenditure as the economy's recovery gathers pace. Al Ississ said in a statement the budget deficit was expected to fall to 2.9% of GDP next year from 3.4% this…

Asharq Al-Awsat

US revises up last quarter’s economic growth to 2.9 percent

Wednesday’s data shows that last quarter’s GDP uptick was led by solid gains in exports and consumer spending.

Al Jazeera

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10 December money changes from DWP Christmas bonus to Pension Credit cut off

There are a number of key dates for your diary in the coming months, with the lead up to the festive season an expensive time. Here are some days to look out for in the coming weeks.

Glasgow Live

Stock Market Today: Stocks Surge As Powell Points To Smaller Rate Hikes

Stocks finished sharply higher Wednesday after Fed Chair Jerome Powell hinted at smaller near-term rate hikes as the central bank tracks a 'highly uncertain' inflation path.

The Street

India growth slows to 6.3% as pandemic bounceback wanes

Mumbai (AFP) - India's growth slowed to 6.3 percent in the September quarter, official figures showed Wednesday, with rising rates and higher consumer prices both dragging on Asia's third-largest economy.

AFP

Türkiye’s Economic Growth Slows to 3.9% in Q3 as Foreign Demand Falls

Türkiye’s economy expanded 3.9% in the third quarter from a year ago, according to official data released on Wednesday, though growth slowed from the previous quarter as a global slowdown put a drag on exports, but the tourism sector remained strong. Gross domestic product (GDP) contracted 0.1% from the previous…

Asharq Al-Awsat

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Thailand heads for third-straight modest rate hike as GDP recovers

The Monetary Policy Committee is set to raise its key rate by a quarter point for a third straight meeting as an accelerating economic growth aided by tourism revival risks stoking prices.

Bangkok Post

The Best and Worst Places to Run a Business

Harrington Group, a business software company, has published a survey with rankings of where it’s best to have a business.

The Street

Ten money changes in December including DWP Christmas bonus and £300 cost of living cash

There are plenty of financial changes happening in December to note down in your diary, including more cost of living help, energy rebates - plus a potential change to your benefit payments

Daily Mirror

Kishida specifies 2% of current GDP target for defense, security spending

Prime Minister Fumio Kishida has instructed the defense and finance ministers to boost Japan's defense and security-related spending in fiscal 2027 to 2% of the current gross domestic product.

The Japan News/Yomiuri

Japan PM wants defence budget to reach 2% of GDP by 2027

Tokyo (AFP) - Japanese Prime Minister Fumio Kishida has told his cabinet to increase defence spending to two percent of GDP by 2027, up from a longstanding level of around one percent.

AFP

EIC downgrades growth forecast for 2023

The Economic Intelligence Center (EIC), a research unit under Siam Commercial Bank, has slashed its 2023 GDP growth projection for Thailand due to the global economic slowdown and the increased likelihood of a recession in developed economies.

Bangkok Post

Estonia says European nations should double defence expenditure

European countries should double their defence expenditure because of Russia's war in Ukraine, Estonia's foreign minister said on Monday, adding that his own country planned to raise national defence spending to 3% of GDP.

Reuters

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Asharq Al-Awsat

$16b Total Assets of Oman’s Islamic Banking Sector

The total assets of Oman’s Islamic banking sector, including Islamic banks and windows operating in the sultanate, jumped by 9.1 percent year-on-year to reach at RO6.4 billion ($16.6 billion) by late September 2022. Oman’s Islamic banking assets now account for 16.2 percent of the country’s total banking system assets, according…

Bangkok Post

Depa's 'Digital Infinity' action plan seeks to increase GDP

The Digital Economy Promotion Agency (Depa) has outlined its 2023 action plan, using what it calls its "Digital Infinity" mission to help increase the country's GDP per person to reach US$10,000 in five years, up from $6,270 in 2021.

Bangkok Post

Equities pause as market takes stock of Covid cases

RECAP: Asian equities fell yesterday in subdued activity after the Thanksgiving holiday in the US. Chinese shares led declines as investors weighed recent gains against an upswing in Covid-19 infections, which reached a new single-day high above 30,000 infections.

The Independent UK

Chancellor rubbishes his own advisers and denies Brexit ‘will make us poorer’

Asked about feared 4% GDP slump, Jeremy Hunt says he doesn’t accept ’all’ OBR forecasts – adding ‘I accept all the ones I agree with’

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Asharq Al-Awsat

Lebanon: World Bank Rules out Economic Recovery if Political Paralysis Continues

The World Bank has refuted the anticipations of Banque du Liban (The Central Bank of Lebanon) of a 2 percent growth in GDP in 2022, expecting Lebanon to “contract by 5.4 percent in 2022 amid political paralysis and delays in implementing an economic recovery plan.” “The depth and duration of…

The Conversation

Ukraine war: how the economy has kept running at a time of bitter conflict

November 24 marks nine months since the Russian invasion of Ukraine began. Despite the expectation of the Kremlin – and many international analysts – Ukraine did not fall within days. It repelled Russia’s advance on the capital Kyiv, turned the tide on the battlefields and has now retaken half of…

Asharq Al-Awsat

Palestine Incurs $50Bln Economic Losses in Two Decades

Additional restrictions imposed on Palestinian development in Israeli-controlled parts of the West Bank cost the Palestinian economy an estimated $50 billion between 2000 and 2020, the UN development agency said Tuesday. The United Nations Conference on Trade and Development (UNCTAD) said in report to the UN General Assembly that extra…

The New Daily

Alan Kohler: It’s national suicide by politics, it’s death by degrees

It’s time to consider removing decisions about climate change from the short-term political cycle.

The Guardian - AU

Australia’s economy remains afloat – but there are choppy waters ahead

The OECD predicts 1.9% economic growth for Australia next year. That’s the good news

The Guardian - UK

Five-year mortgage rates drop below 6%; UK lagging G7 rivals; European stocks at three-month high – as it happened

Average five-year fixed mortgage rate has dropped below 6% for the first time in seven weeks, as OECD cuts growth forecasts

The Street

Are We in a Recession? 5 Ways to Tell

“Are we in a recession?” seems to be the question on everyone’s minds these days. But something better to ask might be “Why is it so hard to tell if we’re in a recession, anyway?” In 2022, a litany of grim economic reports created a mountain of volatility in the…

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