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The Latest Breaking News from GDP

Earthquakes could trigger loss of up to 1% of Turkish GDP in 2023, says report

The February 6 earthquakes that killed more than 40,000 people in Turkey and Syria could result in a loss of up to 1% of the Turkish gross domestic product (GDP), said an economic report published on Thursday. It came amid uncertainties over a possible delay of general elections, set for…

France 24

NATO chief eyes bigger defense budgets, hard spending target

NATO Secretary-General Jens Stoltenberg is urging the 30 member countries to commit to spending at least 2% of their gross domestic product on their defense budgets by a set date

The Independent UK

German defence minister backs raising NATO spending goal

Germany's defence minister said he was in favour of raising NATO's military spending target, as allies gathered in Brussels on Wednesday for talks on whether defence expenditures of 2% of GDP are sufficient with a war raging in Ukraine.

Reuters

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BoT wants to see household debt below 80% of GDP

The Bank of Thailand says it wants to see household debt levels below 80% of gross domestic product to help reduce economic and financial risks.

Bangkok Post

Brexit hit UK growth by £29bn, says Bank of England rate setter

Investment in the country since the referendum has ‘stopped in its tracks’, according to a study led by Jonathan Haskel

The Guardian - UK

Tourism lifts retail growth projection to 6-8%

Thailand's retail industry is expected to grow by 6-8% this year, double the rate of the GDP, helped by the recovery of tourism, according to the Thai Retailers Association (TRA).

Bangkok Post

Generations of Tories have hoped for growth. They never plan for it

Kept aloft by North Sea oil or privatisations, the economy under the Conservatives never got the long-term vision it needed

The Guardian - UK

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Economics are a big factor in the U.S. migrant crisis. Here’s how immigration numbers and GDP compare in the Americas

In struggling countries in Latin America, economic breakdown often precedes an exodus.

Fortune

UK ‘not out of the woods yet’ after economy dodges recession by a whisker; Russia cuts oil output – as it happened

Latest GDP report shows that UK economy flatlined in final quarter of last year, while Russia is to cut oil production over Western price caps

The Guardian - UK

UK can expect year of stagnation after narrowest of escapes from recession

Marginal expansions and contractions in 2023 will do little to solve a lack of investment and export shortfall

The Guardian - UK

UK avoids recession by narrowest margin but 'not out of woods yet'

THE UK avoided a recession by the thinnest of margins after the economy flatlined in the last three months of 2022, new data shows.

The National (Scotland)

FTSE 100 Live: Recession avoided in 2022, Standard Chartered bid latest

The UK looks to have avoided recession in 2022 after estimates today showed GDP unchanged in the final quarter of the year.

Evening Standard

UK narrowly avoids recession for second time in a year but set for one in 2023

The figures come amid predictions that about one in four will be "unable to meet in full their planned energy and food bills from their post-tax income" in the 2023-24 financial year

Daily Mirror

Welsh economy sees biggest contraction of any UK nation

The ONS has released latest GDP figures from the nations and regions of the UK

Birmingham Post

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Tribune News Service

Michigan, Metro Detroit outpaced nation in economic recovery, report says

Michigan and Metro Detroit have outpaced the nation's economic recovery in the wake of COVID-19, according to the Detroit Regional Chamber's State of the Region report released Wednesday.

The News Lens

China’s Growth Prospects After Zero-Covid

Despite the IMF upgrading its GDP projection, China is facing major downward pressures that seem likely to constrain its recovery, in both the short and medium term.

Bangkok Post

Thai economic prospects far from rosy

Logically, one would imagine that 2023 would be a much better year than 2022. Covid is over in every corner of the earth and economic activities resume. The world oil price is below US$80 (2,677 baht) per barrel and inflation is coming down. At the first meeting of 2023, the…

The Conversation

Kenya's president wants taxes to replace foreign debt – seven ways to get there

In the run-up to Kenya’s 2022 polls, economic issues, particularly public debt and joblessness, took centre stage. The Kenya Kwanza team led by William Ruto suggested that Kenya had over-borrowed, a habit they pledged to stop. Ruto’s rivals defended the debt, insisting investment in infrastructure would spur economic growth.

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The Guardian - UK

We’ve avoided recession for now, but the outlook is one of perma-gloom

December’s GDP was boosted by us all cranking up the heating. Actual economic growth has not looked so weak in decades

StockNews.com

These 3 Dividend Stocks Are Worth Investing In

While the better-than-expected GDP growth in the last quarter and declining inflationary pressures are raising optimism, macro uncertainties remain. With interest rate hikes expected to continue, recession possibilities cannot be ruled out. Therefore, fundamentally sound dividend-paying stocks, AbbVie (ABBV), Gilead Sciences (GILD), and Sisecam Resources (SIRE), could be worth investing…

Evening Standard

Recession will be shallower and shorter than predicted, says Bank of England

The Bank of England now expects a shallower and shorter recession this year than it predicted in November - although GDP will still not return to peak levels until 2026.

Wales Online

The Bank of England has raised interest rates to 4%

It means mortgages and other debt will become more expensive for millions of people

The Guardian - UK

Britain has missed out on £400bn of growth since 2010, says TUC

Tories blamed for creating economic ‘doom loop’ that fails to recognise negative impact of spending cuts

Al Jazeera

‘Riding a rollercoaster’ in Myanmar’s post-coup economy

Deepening conflict, sudden changes to regulations and a lack of transparency have made business increasingly hard.

Bangkok Post

Lofty expectation for metaverse potential

A projection suggests the metaverse could contribute US$11-21 billion per year to the Thai economy by 2035, according to research conducted by London-based consultancy Deloitte.

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