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The Latest Breaking News from GDP

China's economic recovery is built on increasingly shaky foundations and that could affect the whole world

Confidence in China’s post-COVID recovery has started to waver over the past week after the world’s second-largest economy reported disappointing figures for two of the major drivers of its economy: property and exports.

The Conversation

UK government debt rises above 100% of GDP for first time since 1961

In blow to Rishi Sunak’s plans to cut taxes before general election, net debt reached £2.6tn at of end of May

The Guardian - UK

UK debt exceeds 100% of GDP for first time since 1961 – ONS

The Office for National Statistics said net debt reached £2.6 trillion as of the end of May, estimated at 100.1% of gross domestic product.

The Independent UK

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Technology to contribute 20-25% of Indian GDP by 2025-26: IT Minister Chandrasekhar

Mr. Chandrasekhar said that the digital economy has expanded, diversified and currently there isn’t a slice or space in the tech sector that Indian entrepreneurs and Indian startups are not present in

The Hindu

Recession politics the latest NZ Labour blow

New Zealand's governing Labour party is trapped in a mire of blunders and bad news, the biggest of which might be the technical recession confirmed last week.

AAP

Drowning in debt

Household debt has long been a concern for Thailand, impeding consumer spending and hindering economic growth.

Bangkok Post

Thai growth set to beat BoT forecast

The Bank of Thailand expects GDP growth to exceed its forecast, with the economic policies of the new government driving expansion alongside tourism and consumption growth.

Bangkok Post

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America’s latest inflation wave is all about corporations ‘using excuses’ and ‘cover’ to increase profits, says top UBS economist

“We’re seeing this expansion of margin under the cover of, ‘Oh, it’s a general inflation problem, we can’t help it,’ Paul Donovan of UBS said Thursday.

Fortune

There has to be a better way to measure a recession

Did NZ really dip into recession this year? Not until unemployment starts to rise ... that's the measure that affects real people. Jonathan Milne reports.

Newsroom.co.nz

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

The Guardian - AU

Commentary: By the treasury secretary’s own definition, we’re back in recession

Last month, the Department of Commerce released troubling data on the anemic economy, showing that gross domestic income (GDI) shrank in the previous six months. That’s no surprise to half of Americans who believe we’re currently in a recession, but the data refute President Joe Biden’s claim that the economy…

Tribune News Service

Floods, cyclone put New Zealand in slender recession

New Zealand experienced a shallow recession after two quarters of negative GDP growth to March 2023, data released by Stats NZ shows.

The New Daily

Government nudged to correct revenue-to-GDP proportion

The government is advised to seek methods to increase its revenue-to-GDP ratio following a continuous decline, while remaining prudent in incurring higher levels of debt, says a Finance Ministry source who requested anonymity.

Bangkok Post

Whoever takes office will inherit a mess

The election result is clear and the MOU to form a 312-seat government in the 500-seat parliament is agreed. But who will lead Thailand and its economy for the next four years is unclear. Whether it will be a pro-equality government, pro-growth government, or even a pro-big-spending government remains in…

Bangkok Post

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Kiplinger

U.S. Debt on Course to Balloon Before It Shrinks: Kiplinger Economic Forecasts

See why U.S. debt will continue to rise, thanks to factors such as inflation, Medicare, and Social Security spending.

Evening Standard

High street growing as people head to pubs and restaurants

GDP was up 0.2 per cent in April, in line with City forecasts

Manchester Evening News

UK economy returns to growth after Brits spend more in pubs, bars and shops

The UK's GDP was boosted by 0.2 percent in April after a fall in March

The Guardian - UK

UK economy returns to slender growth as spending in pubs lifts output

GDP rose by 0.2% in April, with rising car sales and reduced impact of strikes also playing a part

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The Guardian - UK

Pound hits one-year high as more interest rate hikes loom; UK grows in April; WE Soda cancels London float – as it happened

UK economy has bounced back from March’s contraction, but experts fear rising interest rates will cause recession

Evening Standard

FTSE 100 Live: Blow for City as WE Soda cancels IPO; Fed rates call; FTSE closes at 7,602.74

A return to growth for the UK economy in April was today offset by caution in the recruitment sector after staffing firm Robert Walters warned on profits.

AAP

New Zealand on recession knife-edge as GDP data looms

Economists are at odds as to whether New Zealand books a recession when Stats NZ releases first quarter GDP data.

The Conversation

Kenya's first budget under Ruto - three experts review its key points

President William Ruto’s first budget comes to the national assembly on 15 June against the backdrop of massive public debt and public disquiet over high inflation. The KSh3.663 trillion (US$26.35 billion) plan sets out priority areas of an administration that campaigned on the platform of empowering the informal sector. Many…

The Hindu

Transformation in farm sector essential for making India a developed country, says ICAR Director-General

Director-General of Indian Council of Agriculture Research (ICAR) Himanshu Pathak has emphasised the need for bringing about a transformation in the farm sector to make India a developed country from a developing country. Delivering his address at the 36th annual convocation of the University of Agricultural Sciences (UAS) held at…

Bangkok Post

Asian equities gain on hopes for Fed pause

RECAP: Most Asia-Pacific equity markets rose on Friday to their highest level since mid-February, taking cues from an overnight Wall Street rally as bets firmed that the US Federal Reserve would not raise interest rates next week.

Zenger

Larry Summers Urges Tax Hike On Top 1% As He Sees Economy Languishing In ‘New And Dangerous Territory’

Former Treasury Secretary Larry Summers took to Twitter on Tuesday to express his worst fears concerning the economy

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