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The Latest Breaking News from GDP

New Zealand avoids recession as eased Covid measures help spur 1.7% GDP growth

After a decline in the previous quarter, the economy rebounded on the back of spending on travel and recreation

The Guardian - AU

Why it's not anti-environmental to be in favour of economic growth

In the midst of today’s cost of living crisis, many people who are critical of the idea of economic growth see an opportunity. In their recent book The Future is Degrowth, for example, prominent advocates Matthias Schmelzer, Aaron Vansintjan and Andrea Vetter argue that the post-Covid inflation has predominantly been…

The Conversation

Digital Bank Wio Launches in UAE

State-backed digital bank Wio announced Tuesday its official launch in the United Arab Emirates, becoming the first platform bank in the region. This step aims to transform banking operating models towards a more digital future. It comes in line with the UAE’s Digital Economy Strategy that aims to double the…

Asharq Al-Awsat

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Kwarteng plan to boost growth ‘could take decade to achieve target’

Expected ‘sugar rush’ of tax cuts could knock growth off track by forcing up inflation and interest rates, economists warn

The Independent UK

Jordan’s Public Debt Increases to $41 Bln

Jordan’s public debt rose 1.6 percent to 29.16 billion dinars ($41 billion) in the first half of 2022 from 28.7 billion dinars at the end of 2021. Its domestic debt reached 13.89 billion dinars at the end of H1, while its foreign debt reached 15.26 billion dinars, according to statistics…

Asharq Al-Awsat

Germany must meet NATO's 2% spending target over long term - defence minister

Germany must meet NATO's 2% of GDP military spending target over the long term even after a 100 billion euro ($101 billion) special fund is used up, and accept a military leadership it earlier shied away from, its defence minister said.

Reuters

UK economy records ‘feeble’ rebound in July

Latest GDP growth figures come in lower than the 0.3% expected by most economists

Insider UK

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'Downbeat outlook:' UK economy grew less than expected in July

THE UK economy grew by 0.2 in July, which is slower than expected, following a sharp drop in the previous month.

The National (Scotland)

UK economy grew less than expected in July

THE UK economy grew by 0.2 in July, which is slower than expected, following a sharp drop in the previous month.

The National (Scotland)

UK economy grows more slowly than expected amid cost of living crisis

GDP rises by 0.2% in July as worker shortages and inflation weigh on activity

The Guardian - UK

UK ‘still at risk of recession’ despite July rebound; markets lifted by Ukraine’s advances – business live

UK economy expanded by 0.2% in July, less than hoped, with growth driven by customer-facing services such as the sports and recreation sector

The Guardian - UK

One year on, El Salvador's Bitcoin experiment has proven a spectacular failure

A year ago, El Salvador became the first country to make Bitcoin legal tender – alongside the US dollar, which the Central American country adopted in 2001 to replace its own currency, the colón.

The Conversation

Fragile state of UK economy scrutinised as nation mourns

GDP, inflation and retail sales figures due to be released over next few days

The Guardian - UK

World Bank: Truce Agreement, Transfer of Power are 'Glimmers of Hope' for Yemen

The World Bank commended the recent developments in Yemen, describing them as "glimmers of hope" provided by the UN-sponsored truce agreement, the transfer of power, and the $3.3 billion Saudi and Emirati financing package. However, the World Bank said in a recent study that despite these encouraging developments, achieving a…

Asharq Al-Awsat

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The Hindu

India’s updated Nationally Determined Contribution to combat climate change

The updated NDC is a step towards India’s goal to reach net-zero emissions by 2070.

ABC News

ASX soars 1.8pc as RBA hints at softening interest hike stance

Canada has become one of the first major markets to start easing off on rate hikes. Now comments by the Reserve Bank's governor hint that Australia may too ease off on aggressive cash rate rises.

The Guardian - AU

Australians are spending hard, despite real wages falling. It’s a fragile situation

The GDP recovery looks strong, but it’s largely driven by households dipping into savings. Meanwhile, company profits are exploding

Reuters

Putin says Russia will post budget surplus this year, GDP to decline 'around 2%'

Russia will post a budget surplus this year, President Vladimir Putin said on Wednesday, forecasting a much shallower economic contraction than previously thought as Russia has overcome the worst impact of Western sanctions.

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Asharq Al-Awsat

Saudi GDP up 12.2% in Second Quarter, Exceeding Initial Estimate

Saudi Arabia's real gross domestic product expanded by 12.2% in the second quarter compared with the same period of 2021, data showed on Wednesday, as the world's top oil exporter reaps the rewards of high crude prices and a post-pandemic recovery. The second quarter growth figure exceeded a flash government…

The Conversation

Australia's June quarter national accounts show GDP doing well - for now

Tuesday’s national accounts show Australia ending 2021-22 on a strong note.

The Guardian - AU

Australian economy holds firm in June quarter driven by export boom

National accounts figures show GDP expanded by 3.6% compared with a year earlier as households drew down on savings to keep spending

ABC News

Jim Chalmers warns GDP figures don't 'tell the full story about our economy' — as it happened

Treasurer Jim Chalmers said while the latest economic growth figures are "solid", they don't show the increasing financial pressures facing Australians. Look back on Wednesday's updates.

The Guardian - AU

Economists predict slowdown for Australian economy as interest rates continue to rise

Soaring commodity exports and positive agricultural forecast expected to be balanced by Reserve Bank’s moves to counter inflation

The Hindu

India’s current account deficit to widen to 5% in Q2, 3.5% in FY23: ICRA

The trade deficit has doubled to $28.7 billion for August due to a 36.8% expansion in imports and a 1.2% decline in export earnings.

Bangkok Post

Wage hikes make little impact: expert

Minimum wage rises have failed to keep up with GDP growth with workers on the lowest rung in society receiving only a 15-baht hike in the daily wage in the last 10 years, according to a Thammasat University economist.

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