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The Latest Breaking News from GDP

Third-quarter GDP growth for 2022 (Q3/2022) is 4.5% -- substantially higher than the expected 4%. The main driving factor is robust private consumption -- not tourism income -- which expanded 9% in real terms and 15.7% in nominal terms, compared to the same quarter last year. On the surface, this…

Bangkok Post

India GDP halves in September quarter as COVID distortions fade

Economists warned that growth momentum may ease in the December quarter due to higher interest rates, slowing exports.

Al Jazeera

Jordan’s Draft 2023 Budget Forecasts Lower Deficit, Steady Economic Growth

Finance Minister Mohamad Al Ississ said on Wednesday that Jordan's draft 2023 budget forecasts 11.4 billion dinars ($16 billion) in state expenditure as the economy's recovery gathers pace. Al Ississ said in a statement the budget deficit was expected to fall to 2.9% of GDP next year from 3.4% this…

Asharq Al-Awsat

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US revises up last quarter’s economic growth to 2.9 percent

Wednesday’s data shows that last quarter’s GDP uptick was led by solid gains in exports and consumer spending.

Al Jazeera

10 December money changes from DWP Christmas bonus to Pension Credit cut off

There are a number of key dates for your diary in the coming months, with the lead up to the festive season an expensive time. Here are some days to look out for in the coming weeks.

Glasgow Live

India on track to achieve 6.8-7% GDP growth this fiscal: CEA Anantha Nageswaran

NEW DELHI: The Indian economy is on track to achieve a 6.8-7 per cent GDP growth in the current fiscal, chief economic advisor (CEA) V Anantha Nageswaran said on Wednesday.

The Times of India

Indian economy grows 6.3% in Q2 of FY23; services shine, manufacturing & mining sectors drag

NEW DELHI: India's gross domestic product (GDP) for the period July-September 2022 grew by 6.3% , data released by the government showed on Wednesday.

The Times of India

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Türkiye’s Economic Growth Slows to 3.9% in Q3 as Foreign Demand Falls

Türkiye’s economy expanded 3.9% in the third quarter from a year ago, according to official data released on Wednesday, though growth slowed from the previous quarter as a global slowdown put a drag on exports, but the tourism sector remained strong. Gross domestic product (GDP) contracted 0.1% from the previous…

Asharq Al-Awsat

Thailand heads for third-straight modest rate hike as GDP recovers

The Monetary Policy Committee is set to raise its key rate by a quarter point for a third straight meeting as an accelerating economic growth aided by tourism revival risks stoking prices.

Bangkok Post

Ten money changes in December including DWP Christmas bonus and £300 cost of living cash

There are plenty of financial changes happening in December to note down in your diary, including more cost of living help, energy rebates - plus a potential change to your benefit payments

Daily Mirror

Kishida specifies 2% of current GDP target for defense, security spending

Prime Minister Fumio Kishida has instructed the defense and finance ministers to boost Japan's defense and security-related spending in fiscal 2027 to 2% of the current gross domestic product.

The Japan News/Yomiuri

EIC downgrades growth forecast for 2023

The Economic Intelligence Center (EIC), a research unit under Siam Commercial Bank, has slashed its 2023 GDP growth projection for Thailand due to the global economic slowdown and the increased likelihood of a recession in developed economies.

Bangkok Post

Estonia says European nations should double defence expenditure

European countries should double their defence expenditure because of Russia's war in Ukraine, Estonia's foreign minister said on Monday, adding that his own country planned to raise national defence spending to 3% of GDP.

Reuters

GDP may print at 5.8% in Q2: SBI Research

MUMBAI: Citing a weak manufacturing sector coupled with the steep margin compression, SBI Research has pencilled in the country's GDP growth for the second quarter at 5.8 per cent, down 30 basis points from average estimates.

The Times of India

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Asharq Al-Awsat

$16b Total Assets of Oman’s Islamic Banking Sector

The total assets of Oman’s Islamic banking sector, including Islamic banks and windows operating in the sultanate, jumped by 9.1 percent year-on-year to reach at RO6.4 billion ($16.6 billion) by late September 2022. Oman’s Islamic banking assets now account for 16.2 percent of the country’s total banking system assets, according…

Bangkok Post

Depa's 'Digital Infinity' action plan seeks to increase GDP

The Digital Economy Promotion Agency (Depa) has outlined its 2023 action plan, using what it calls its "Digital Infinity" mission to help increase the country's GDP per person to reach US$10,000 in five years, up from $6,270 in 2021.

Bangkok Post

Equities pause as market takes stock of Covid cases

RECAP: Asian equities fell yesterday in subdued activity after the Thanksgiving holiday in the US. Chinese shares led declines as investors weighed recent gains against an upswing in Covid-19 infections, which reached a new single-day high above 30,000 infections.

The Independent UK

Chancellor rubbishes his own advisers and denies Brexit ‘will make us poorer’

Asked about feared 4% GDP slump, Jeremy Hunt says he doesn’t accept ’all’ OBR forecasts – adding ‘I accept all the ones I agree with’

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Asharq Al-Awsat

Lebanon: World Bank Rules out Economic Recovery if Political Paralysis Continues

The World Bank has refuted the anticipations of Banque du Liban (The Central Bank of Lebanon) of a 2 percent growth in GDP in 2022, expecting Lebanon to “contract by 5.4 percent in 2022 amid political paralysis and delays in implementing an economic recovery plan.” “The depth and duration of…

The Conversation

Ukraine war: how the economy has kept running at a time of bitter conflict

November 24 marks nine months since the Russian invasion of Ukraine began. Despite the expectation of the Kremlin – and many international analysts – Ukraine did not fall within days. It repelled Russia’s advance on the capital Kyiv, turned the tide on the battlefields and has now retaken half of…

Asharq Al-Awsat

Palestine Incurs $50Bln Economic Losses in Two Decades

Additional restrictions imposed on Palestinian development in Israeli-controlled parts of the West Bank cost the Palestinian economy an estimated $50 billion between 2000 and 2020, the UN development agency said Tuesday. The United Nations Conference on Trade and Development (UNCTAD) said in report to the UN General Assembly that extra…

The New Daily

Alan Kohler: It’s national suicide by politics, it’s death by degrees

It’s time to consider removing decisions about climate change from the short-term political cycle.

The Guardian - AU

Australia’s economy remains afloat – but there are choppy waters ahead

The OECD predicts 1.9% economic growth for Australia next year. That’s the good news

The Guardian - UK

Five-year mortgage rates drop below 6%; UK lagging G7 rivals; European stocks at three-month high – as it happened

Average five-year fixed mortgage rate has dropped below 6% for the first time in seven weeks, as OECD cuts growth forecasts

The Conversation

Autumn statement is highly political compared to research on 'best' ways to fix public finances

The UK faces some significant belt-tightening following Chancellor Jeremy Hunt’s autumn statement, which announced spending reductions and tax rises of around £55 billion. Much research has been done into the best ways to do fiscal austerity in terms of reducing debt, avoiding economic damage and not exacerbating inequality. So how…

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