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The Latest Breaking News from GDP

War is stopping Ukraine from paying its debts -- here's how international powers can continue to support its recovery

Ukraine is burning through money fast. The invasion by Russia has been costly for the country. According to the International Monetary Fund, Ukraine’s GDP could shrink by 35% as a result of the war. The country’s international grain exports have been severely hampered, with a recent deal to restart exports…

The Conversation

Remittances of Moroccan Expats Reach $9.37Bln in 2021

Remittances from Moroccan expats hit a record high at 93.7 billion dirhams ($9.37 billion) in 2021, up 37.5% compared to 2020, Bank Al Maghrib’s (BAM) annual report on the kingdom’s economic, monetary and financial situation showed. Central Bank Governor Abdellatif Jouahri presented the report to King Mohamed VI at the…

Asharq Al-Awsat

Cardiff economy thriving but lags on high wage employment says report

The Welsh capital is leading on GDP per capita but falling behind the UK and London on average earnings

Birmingham Post

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Does A 'Recession' Mean 'Risk-On Session'?

Following last week’s compelling events, including the busiest week of Q2 earnings, latest FOMC meeting and Q2 GDP growth data, crypto finished July strong. Why did we see a huge rally last week?

Benzinga

Burundi at 60 is the poorest country on the planet: a look at what went wrong

Burundi, which marked 60 years of independence on 1 July 2022, ranks as the poorest country on the planet in terms of GDP per capita. This must be understood in the light of a history punctuated by political upheavals. Until 1996, the country lived to the rhythm of coups, massacres…

The Conversation

Saudi Arabia Posts Highest Economic Growth Since 2011

The Saudi General Authority for Statistics (GASTAT) revealed on Sunday that the Kingdom’s real gross domestic product (GDP) jumped by 11.8 % year-on-year (YoY) in the second quarter of 2022. The announcement countered International Monetary Fund projections that the economy will grow at 7.6% this year, the highest growth among…

Asharq Al-Awsat

Who are the eight economists who decide when the US is in a recession?

The US Commerce Department on Thursday announced that the country’s gross domestic product had fallen for the second consecutive quarter, although President Joe Biden said the economic data overall “doesn’t sound like a recession”. In most countries, two successive quarters of GDP decline qualify as a recession – but not…

France 24

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Did Elon Musk Predict The US Recession?

Ask economists, analysts and the White House if the United States is in a recession, and you will get different answers. With the U.S. posting two straight quarters of negative GDP growth, one definition of a recession was hit this week. Did the world’s richest man correctly predict a recession?

Benzinga

'Wikipedia Is Losing Its Objectivity': Elon Musk Responds To Recession Definition Changing, Page Being Locked

Free community based online encyclopedia Wikipedia allows users to update sites with information and facts. Sometimes users take things too far and post funny items or inaccurate information. In the case of the word “recession,” multiple attempts to change the definition led to the page being locked.

Benzinga

What is a recession? Wikipedia can't decide

An editing battle over its "recession" entry prompted Wikipedia to put a temporarily lock on revisions to prevent new users from repeatedly changing the definitions of recession.

WEKU

Facebook, Instagram Posts Flagged as False for Rejecting Biden's Recession Wordplay

"The fact-checking industry has become a partisan arbiter of political disputes," notes Phil Magness.

Reason

5 Stocks With the Most Long-Term Growth Potential

While high inflation and GDP decline for two consecutive quarters are raising recession fears, better-than-expected corporate profits and the possibility of a less aggressive rate hike have been restoring investor confidence. Regardless of the uncertainties surrounding the economy and the market, investing in Abbott Laboratories (ABT), Coca-Cola Consolidated (COKE), DLH…

StockNews.com

Top economic takeaways as US wrangles with recession fears

Back-to-back GDP slowdown, Fed raises rates, higher prices and other economic highlights from a busy week.

Al Jazeera

3 Mighty Mid-Cap Stocks to Buy for the Rest of 2022

Despite another decline in GDP, the major indices are expected to post their best month since November 2020. And irrespective of the market volatility, mid-cap stocks are raking in significant gains. Thus, we think it could be wise to scoop up shares of mighty mid-cap stocks Acuity Brands (AYI), Boyd…

StockNews.com

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Los Angeles Times

Why is it so hard to say if this is a recession?

Economists were on high alert Thursday morning awaiting data from the U.S. Commerce Department that might shed light on whether the country is in a recession — a question with vast implications for consumers, employers and electoral politics.

StockNews.com

Buy These 3 Monster Growth Stocks Before It’s Too Late

Amid sky-high inflation and consecutive rate hikes, U.S. GDP witnessed another consecutive decline in the second quarter. However, investors seem to have shaken off recession fears causing U.S. equities to rally. Thus, we think quality growth stocks, Core Molding (CMT), Civeo (CVEO), and Genuine Parts (GPC), could be worth buying…

The Independent UK

Asian shares mixed on US rally, China economic growth woes

Asian shares are mixed as Chinese shares sank after leaders acknowledged the official 5.5% growth target for this year won’t be met

The Guardian - UK

ExxonMobil and Chevron shatter profit records; eurozone inflation hits record 8.9% – business live

US oil companies post huge earnings, as sky-high fuel costs hit consumers and drive up inflation

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Bangkok Post

JP Morgan retains growth forecast at 3%

JP Morgan has maintained its Thai GDP growth forecast at 3% this year, driven by consumption and tourism.

The Guardian - US

When does a recession begin – and is the US in one now?

Question weighs on consumers, politicians and investors around the world as the Federal Reserve raises interest rates

The Guardian - US

US economy shrinks in second quarter, signaling unofficial start of recession

The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season

WEKU

U.S. economy just had a 2nd quarter of negative growth. Is it in a recession?

GDP shrank for a 2nd quarter in a row. While two consecutive quarters of negative growth is often considered a recession, it's not an official definition. Parts of the economy are clearly struggling.

The Independent UK

US economy likely grew modestly, if at all, last quarter

After going backward from January through March, the U.S. economy probably didn’t do much better in the spring

The Independent UK

Report: Federal debt lower in 2022; still poised to climb

The Congressional Budget Office says the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast

Tribune News Service

US economy seen narrowly averting back-to-back contractions

The U.S. economy may have eked out modest growth in the second quarter, skirting back-to-back quarterly contractions, but rising at a tepid enough pace to feed concerns of an eventual downturn.

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