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The Latest Breaking News from GDP

Australian economy grew 0.2% in first three months of the year, the slowest since Covid lockdowns

Jim Chalmers says higher interest rates and cost-of-living pressures are squeezing household budgets and slowing the economy

The Guardian - AU

GDP growth numbers and GST collection figures can’t hide economic distress: Congress

No amount of headline management with GDP growth numbers and GST revenues can hide the economic distress faced by a majority of Indians, the Congress said as it cited a surge in the demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

The Hindu

India’s digital economy to grow over five-fold to $1 trillion by 2030: report

Titled India e-Conomy Report, the research states that India is in its ‘Digital Decade’ and its internet economy will grow to 12-13% of its GDP by the end of the decade from the current 4-5%

The Hindu

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AVIXA Report: Solid AV Growth Despite Economic Uncertainty

Pro AV is showing strong growth similar to pre-COVID norms, but recession odds are increasing with tighter credit availability.

AVNetwork

Old is gold: Can ageing spark a surprise economic boom?

Health, tech and saved wealth could turn an ageing workforce from an economic challenge into an advantage, say experts.

Al Jazeera

Years of Tory economic mismanagement has cost Scotland £8.5bn, claims Labour

Research suggests Scotland’s economy would be £8.5bn bigger had it grown since 2010 as it did under the last Labour government.

Daily Record

Building activity produces 18% of emissions and a shocking 40% of our landfill waste. We must move to a circular economy – here’s how

Architecture, engineering and construction employ 1.2 million people in Australia and account for 9% of GDP. But our biggest services sector also produces roughly 40% of landfill waste and accounts for 18.1% of Australia’s carbon footprint. The sector must change its practices fast for Australia to meet its commitments to…

The Conversation

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Brexit has been ‘one hell of a mess’, says former Tory minister Chris Patten

The Conservative peer blamed Brexit for the UK’s poor economic performance: ‘Our GDP per capita is lower – for heaven’s sake – than Lithuania’

Evening Standard

FTSE 100 posts biggest jump since March as US economy adds 339,000 new jobs – as it happened

US economy added more jobs than forecast last month, with March and April’s data revised higher too, but unemployment rate has jumped to 3.7%

The Guardian - UK

Riding the momentum: On National Statistical Office’s economic data and the economy

Policymakers must ensure that fiscal and monetary measures remain growth supportive in the coming quarters

The Hindu

Czech Senate backs setting NATO spending target of 2%/GDP as law

The Czech parliament's upper house approved a bill on Wednesday that will set the state's minimum defence spending at 2% of gross domestic product (GDP) from next year, matching its commitment to the NATO military alliance.

Reuters

Scottish GDP growth outperforms UK in first three months of 2023

The country’s economic output grew by 0.4% during the first quarter – compared to 0.1% for the UK

Insider UK

UK’s post-Brexit trade deals with Australia and New Zealand kick in

Move called ‘historic’ but agreement with Australia forecast to raise Britain’s GDP by only 0.08% by 2035

The Guardian - UK

The Money Doctor who has slayed inflation for 50 years says the Fed has overcorrected so badly they’re hastening the long-feared recession

The Fed's monetary squeeze "is aimed at a problem that’s over, and the effect from here will be to hammer consumer demand and economic growth," predicts Steve Hanke of Johns Hopkins.

Fortune

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Fortune

Most family businesses don’t look like ‘Succession.’ Here’s what America’s enterprising families bring to the table

Family-owned businesses represent 54% of U.S. GDP and 59% of employment.

Dynamite News

Indian economy to surpass 7 per cent growth in FY 23: SBI research report

The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India. Read further on Dynamite News

The Times of India

Indian economy to surpass 7% growth in FY 23: SBI research report

NEW DELHI: The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India.

Barchart

Dollar Climbs as Strong U.S. Economic Reports Boost T-Note Yields

The dollar index (DXY00 ) on Thursday rose by +0.35% and posted a 2-1/4 month high. Thursday’s better-than-expected U.S. economic reports on weekly jobless claims and Q1 GDP were hawkish for Fed policy and supportive of the dollar. Also, the jump in the 10-year T-note yield Thursday to a 2-1/2...

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Barchart

Stocks Mostly Higher as Nvidia’s Blowout Earnings Boost Tech Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.63%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.16%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.98%. U.S. stocks this morning are mixed, with the Nasdaq...

Barchart

Stocks Climb Before the Open as Investors Await Key U.S. GDP Data, Nvidia Results Boost Sentiment

June S&P 500 futures (ESM23) are up +0.63%, and June Nasdaq 100 E-Mini futures (NQM23) are up +1.74% this morning after three major U.S. benchmark indices finished the regular session in the red as talks between the White House and Republican representatives on raising the U.S. debt ceiling ended without…

The Guardian - UK

German economy in recession after high prices take toll, revised figures reveal

Updated data shows economy went into reverse in first quarter with GDP falling by 0.3%

The Times of India

German economy goes into recession as GDP shrinks by 0.3% in Q1

BERLIN: The German economy contracted in the first quarter of 2023 compared with the previous three months, thereby entering recession, data from the statistics office showed on Thursday.

The Hindu

Morning Digest | Ron DeSantis launches 2024 presidential bid to challenge Donald Trump; GDP growth may cross 7% in 2022-23: RBI Governor, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The New Daily

Alan Kohler: Productivity has collapsed because workers have lost hope

Between March and December last year, Australian productivity – GDP per hours worked – actually declined 4.1 per cent.

The National (Scotland)

Why GDP doesn't work, and what Scotland should replace it with

LAST week the Beyond Growth Conference, the biggest European conference to discuss an alternative economic model, took place in Brussels. Over…

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