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The Latest Breaking News from GDP

New Zealand GDP down 0.6 per cent in Q4 2022

New Zealand has had a 0.6 per cent contraction in GDP in the December 2022 quarter, beginning a predicted 2023 dip a quarter earlier than expected.

AAP

'Insipid and uninspiring Budget offered botched repairs from cowboy builders'

The Chancellor claimed that he had crafted a Budget for growth. The reality is Britain remains in the economic slow lane, with GDP to shrink this year

Daily Mirror

UK economy will take more than a year to recover to pre-Covid level, says OBR

Jeremy Hunt’s efforts to boost growth unlikely to prevent largest fall in living standards on record

The Guardian - UK

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UK defence budget 2023: How does spending compare with other countries?

The government will commit £11 billion to the defence budget over the next five years

Evening Standard

Budget 2023: Jeremy Hunt reveals £11bn for defence spending

Brings UK military spending to 2.25% of GDP by 2025, says chancellor

The Independent UK

Budget explainer: here are some ways to read between the lines on what's being reported

UK budget announcements inevitably lead to a deluge of reporting on how the chancellor’s latest plans for the economy will affect our wallets, pensions and investments, as well as the bottom lines of businesses, charities and entire industries.

The Conversation

Labour accuses government of failing to reverse cuts in defence spending

Opposition says no provisions made to plug reduction of 10,000 service personnel or replace Hercules planes

The Guardian - UK

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Ben Wallace suggests he is not interesting in quitting over defence spending

His comments follow reports that he had threatened to resign if he did not get a commitment to raise defence spending to 3% of GDP by 2030.

The Independent UK

UK-GCC FTA Negotiations Make Significant Progress

Chief Negotiator – UK-GCC FTA, Department for International Trade Tom Wintle revealed that the UK and Gulf Cooperation Council (GCC) countries have made “good progress” in negotiations to sign a free trade agreement (FTA). Speaking on the eve of the third round of talks kick off between the parties in…

Asharq Al-Awsat

Rishi Sunak pledges £5 billion for defence as UK faces a ‘volatile’ world

The PM is visiting California for talks with US president Joe Biden and Australian prime minister Anthony Albanese.

The Independent UK

Alan Kohler: Paying for AUKUS? Spending like Europe means taxing like Europe

Before the next election, Treasurer Jim Chalmers must find a way to credibly restore a balanced budget. This means new and higher taxes.

The New Daily

Britain’s older electorate can live with low GDP. It’s high inflation they abhor

Tories can take heart that the over 65s won’t punish poor GDP, research finds. Just don’t hit them in the pocket

The Guardian - UK

Bleak economic view for Asia

Thailand and China are among the lone bright spots in Asia, projected to have higher real GDP growth this year even as the rest of the region is battered by unfavourable global economic conditions and geopolitical tensions, according to global trade insurer Atradius.

Bangkok Post

Dark clouds over construction sector despite GDP growth, as building work slips to 11-month low

The UK building sector had its worst month in almost a year, but there may be signs of greater resilience in the London housing market

Evening Standard

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Asharq Al-Awsat

Saudi Economy Registers Highest Growth among G20 Countries

Saudi Arabia’s gross domestic product (GDP) grew by 8.7 percent in 2022, registering the highest growth rate among the G20 countries, despite the complex economic conditions and challenges facing the world. This rise has exceeded the expectations of international organizations, which have estimated the Saudi GDP to increase by 8.3…

The Guardian - UK

Economic growth of sorts, but UK plc is going nowhere

GDP is likely to edge sideways in 2023 (if that) but the true impact of rising interest rates has yet to be felt

The Independent UK

UK’s economy returns to growth after rebound in entertainment and transport

The Office for National Statistics said the economy grew by 0.3% in January, following a sharp 0.5% decline in December.

The Guardian - UK

UK economy rebounds as Jeremy Hunt finalises budget

January GDP growth of 0.3% bigger than expected, driven by education, health and recreation sectors

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news in one place.

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The Guardian - UK

US adds 311,000 jobs in February; UK economy returns to growth; regulators take over Silicon Valley Bank – as it happened

UK economy has proved ‘more resilient than many expected’ says chancellor Jeremy Hunt, while problems at Silicon Valley Bank knock FTSE 100 down 2%

ABC News

Is Australia getting South-East Asia all wrong?

South-East Asia is a powerhouse region and a close neighbour — just don't call it our "backyard".

The Conversation

Economic growth doesn't have to mean 'more' – consuming 'better' will also protect the planet

Around 30 years ago, many developed countries started a process of absolute decoupling of their emissions of CO₂ and energy use from economic growth. This means keeping emissions stable, or better yet, shrinking them, while still growing the economy.

The Independent UK

Japan revises GDP to nearly flat, showing fragile recovery

Japan’s economy grew at an annual pace of 0.1% in October-December, in a downgrade from an earlier 0.6% increase

Bangkok Post

Part 1: The country needs to change

Before I start the article, I would like to report that Thailand's economic performance in January 2023 was no better than the last quarter of 2022, when GDP growth was merely 1.4%.

Caixin Global

Wang Tao: Takeaways From China’s Government Work Report

UBS has upgraded its GDP growth forecast for the country to 5.4% for 2023 and 5.2% for 2024

France 24

Will pension strikes lead to fuel shortages in France?

Workers at petrol refineries across France are among those on strike against the government's proposed pension reforms. If unions continue the walkouts on a rolling basis, motorists are worried they could face petrol shortages. Also in the show: power cuts in South Africa have weighed more than expected on GDP…

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