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The Latest Breaking News from GDP

OPINION - I am so tired of the careless West failing the global south on climate

At a drinks event before President Macron’s recent climate summit in Paris, the new Barbadian High Commissioner to London told me a startling fact: his country’s entire GDP could be wiped out by a single hurricane in just four hours.

Evening Standard

China's Premier says 'de-risking' calls from West are 'false proposition'

In his address at the World Economic Forum in Tianjin on Tuesday, Chinese Premier Li Qiang dismissed the notion put forth by the United States and the European Union of decreasing dependence on China's economy as a "misguided proposition". Furthermore, he reassured attendees that despite mounting concerns about the vigor…

France 24

Greece’s New Democracy sets ambitious goals in second term

Party has its work cut out to raise investment, economic growth and wages while lowering debt and unemployment.

Al Jazeera

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GDP, Powell and Other Key Items to Watch This Week

This upcoming week looks relatively quiet, which is probably a good thing with another earnings season kicking off at the beginning of July. Here are 5 things to watch this week in the market:

Barchart

Stocks Fall as Recession Odds Rise on Weak PMI Reports

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Friday fell by -0.77%, the Dow Jones Industrials Index ($DOWI ) (DIA ) fell by -0.65%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) fell by -1.00%. U.S. stocks were undercut by Friday’s weak U.S. and...

Barchart

Stocks Fall on Economic Gloom Driven by Weak PMI Reports

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.61%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.45%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.11%. U.S. stocks are being undercut by today’s weak U.S....

Barchart

Americans are so indebted that it’s holding back the economy. These 4 key reforms could give them room to breathe

The inexorable march of debt may well be the most important economic factor in our lifetime.

Fortune

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India's GDP forecast raised to 6.3% from 6% for current fiscal year: Fitch Ratings

This is primarily because of a stronger outturn in the first quarter and near-term momentum. Read further on Dynamite News:

Dynamite News

Fitch raises India's GDP forecast to 6.3% from 6% for current fiscal year

Fitch Ratings on June 22, 2023 raised its forecast for India’s economic growth to 6.3% for current fiscal year 2023-24 from 6% it had predicted previously

The Hindu

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

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

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Bangkok Post

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.

Fortune

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.

Newsroom.co.nz

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.

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The Guardian - AU

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

Tribune News Service

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…

The New Daily

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.

Bangkok Post

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…

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

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