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The Latest Breaking News from GDP

S&P Futures Climb as Investors Await Key U.S. GDP Data, Salesforce Earnings on Tap

December S&P 500 futures (ESZ23) are trending up +0.50% this morning as market participants geared up for a slew of U.S. economic data while also awaiting earnings results from notable cloud sector players Salesforce and Snowflake.

Barchart

Jeremy Hunt’s debt reduction plan ‘a very big fiscal risk’, says OBR

Treasury’s independent forecaster says uncertain spending plans and higher than expected inflation could scupper cuts

The Guardian - UK

How a small Caribbean island is trying to become hurricane-proof

When Hurricane Maria struck the eastern Caribbean island of Dominica in 2017, it caused the kind of devastation which is unthinkable to larger countries. The Category 5 hurricane damaged 98% of building roofs and caused US$1.2 billion (£950 million) in damage. Dominica effectively lost 226% of its GDP overnight.

The Conversation

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These Are the States With Highest Economic Benefit from Clearing Green Card Backlogs

Reducing green card barriers would add $3.9 trillion dollars to the U.S. economy, according to projections from the BPC

Latin Times

GDP, Fed Speakers and Other Can't Miss Items This Week

With it being a short week last week and with a lower volume environment, the market did its usual low volume melt up and the S&P 500 finished the week up over 1%.

Barchart

Green growth or degrowth: what is the right way to tackle climate change?

Nearly all the world’s governments and vast numbers of its people are convinced that addressing human-induced climate change is essential if healthy societies are to survive. The two solutions most often proposed go by various names but are widely known as “green growth” and “degrowth”. Can these ideas be reconciled?…

The Conversation

India's ability to navigate complex diplomatic waters showcases it as potential mediator in global conflicts: Ruchira Kamboj

“India has shown that it is possible to maintain friendly relations with countries having differing ideologies and governance models. This ability to navigate complex diplomatic waters showcases India as a potential mediator in international conflicts,” she said at the conference attended by policy experts, students, economists and academicians.

The Hindu

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Flagship post-Brexit trade deal worth even less than ministers claimed, official estimates show

The Independent revealed earlier this year government’s predicted 0.08% boost risked being an overestimate

The Independent UK

UK’s flagship post-Brexit trade deal worth even less than previously thought, OBR says

Office for Budget Responsibility says UK entry into the Indo-Pacific agreement will add just 0.04% to GDP in the long run

The Guardian - UK

Indonesia’s presidential hopefuls lay out plans to revive $1.2tn economy

GDP growth slowed to 4.94 percent in the third quarter, compared with 5.72 percent during the same period in 2022.

Al Jazeera

A $5 trillion economy, but for whom?

While India is set to become the third largest economy in the world in 2028, 80 crore Indians will still be receiving free foodgrains to stave off hunger

The Hindu

Are These 3 China Stocks Buying Opportunity?

China's economy is staged for significant growth, buoyed by robust GDP growth, elevated forecasts, and proactive government measures to spur recovery. Amid this, could Chinese stocks New Oriental Education & Technology (EDU), JD.com (JD) and FinVolution (FINV) make ideal buys? Let's find out.

StockNews.com

BBC Scotland editor changes Grangemouth report over 'incorrect' data

THE BBC has updated a story about the closure of Grangemouth oil refinery after an “incorrect” statement was included ...

The National (Scotland)

Living standards, tax levels and other historical benchmarks

Disposable income is likely to be 3.5% lower in 2024/25 than before the Covid-19 pandemic.

The Independent UK

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Evening Standard

OPINION - Jeremy Hunt cuts taxes – but they're still going up

There is only one activity less productive than watching the Autumn Statement, and that is watching the prime minister's questions that precedes it. Every question even tangentially related to tax and spend receives the rote reply: "I would not want to pre-empt my honourable friend the chancellor". Perish the thought.

The Independent UK

UK tax burden remains set for post-war record high, despite cuts

Nearly four million additional workers are likely to be brought into the tax system between 2022/23 and 2028/29.

Evening Standard

Sluggish economic growth on the cards until 2027 says OBR

Watchdog says GDP will only advance by 0.7% next year compared with its previous projection of 1.8%

The Guardian - UK

What to expect in the autumn statement 2023

From Whitehall to welfare and pay to pensions, here is what Jeremy Hunt is likely to announce

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news in one place.

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Advnture

Outdoor recreation contributed over $1 trillion to the US economy in 2022

Outdoors adventures accounted for 2.2% of the US’s GDP in 2022 – more than oil/gas extraction and mining combined

AVNetwork

AVIXA Report: Sales Growth Rebounds as U.S. GDP Stuns

The expansion is solid, but integrators are still being impacted by nagging supply chain issues and other economic factors.

The Hindu

The claim of India’s GDP reaching the $4 trillion mark is bogus and fake, says Congress

Congress alleges Union Ministers shared "fake news" that India's GDP crossed $4T to generate euphoria. Unverified screenshot shared by BJP leaders, but sources claim news incorrect as India's GDP yet to achieve landmark. Live tracking of GDP figures difficult due to data time lag.

The Hindu

State government working towards empowering cooperatives, says Chief Minister

CM Siddaramaiah says State govt taking steps to empower co-ops. Incentive for milk farmers raised to ₹8/litre, zero-interest farm loans up to ₹5 lakh. Membership fees paid for SC/ST/women members. Suggestion to deposit govt funds in co-ops to be seriously considered. 8.5 lakh co-ops, 46,500 in Karnataka, can lead to…

Kiplinger

Consumers Have $1 Trillion More Savings Post-Pandemic: The Kiplinger Letter

GDP data show Americans have more savings than they did pre-pandemic.

The Hindu

State of the economy — temper the euphoria

If official spokespersons enlarged the frame of economic assessment, a few stark facts come into focus

Barchart

Dollar Finds Support on Better-Than-Expected U.S. Economic News

The dollar index (DXY00 ) on Wednesday rose by +0.34%. The dollar Wednesday rose moderately and found support on better-than-expected U.S. economic news on Oct retail sales and the Nov Empire manufacturing survey. Also, higher T-note yields on Wednesday benefited the dollar. Wednesday’s rally in stocks curbed liquidity demand for...

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