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The Latest Breaking News from GDP

Latest GDP Numbers Aren't Calming Recession Fears

The U.S. Bureau of Economic Analysis reports that GDP grew 0.6 percent in the third quarter of 2022.

Reason

US Jobless Claims Rise Slightly, GDP Tops Expectations Ahead Of Fed's November Interest Rate Decision

U.S. initial jobless claims ticked higher last week, but came in below economist estimates and still remain near historically low levels.

Benzinga

US Stocks On Track For Mixed Start As Nasdaq Futures Sag Yet Again Amid Big Tech Woes; Traders Look Ahead To Q3 GDP Data, Apple, Amazon Earnings

Trading in the U.S. index futures points to a mixed opening by Wall Street stocks on Thursday, as tech earnings continue to disappoint.

Benzinga

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US Stock Futures Mostly Higher Ahead Of GDP, Jobless Claims Data; Apple, Amazon Earnings In Focus

Pre-open movers U.S. stock futures traded mostly higher in early pre-market trade on Thursday after closing mostly lower in the previous session. The Nasdaq index dipped by more than 200 points on Wednesday following weak earnings results from Alphabet Inc. (NASDAQ: GOOG).

Benzinga

New GDP report shows an economic turnaround, but don't be fooled

Thursday's GDP report shows the U.S. economy grew at an annual rate of 2.6% in July, August and September, after shrinking in the first half of the year.

WEKU

Nato ally Estonia urges Rishi Sunak to increase UK defence spending

Mr Sunak has not matched a pledge by his predecessor Liz Truss to boost defence spending from 2% to 3% of GDP by 2030.

The Independent UK

Alan Kohler: Jim Chalmers delivers a responsible budget, with no repair and no relief

The last time a new government brought down its first budget, in 2014, it was a disaster for all concerned.

The New Daily

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2 Genius Stocks to Buy and Hold This Fall

Despite rising recession odds, the GDP growth expectations for the third quarter and improved consumer in September should bode well for the stock market. Therefore, fundamentally sound stocks Coca-Cola (KO) and Energy Transfer (ET) might be great buy-and-hold options this fall. Read on….

StockNews.com

Jim Chalmers just handed down his first federal budget, but did he get his facts straight?

Did the Treasurer get his facts straight in Labor's first budget speech in a decade? RMIT ABC Fact Check investigates.

ABC News

Six graphs that explain the 2022 federal budget: rosy views mugged by reality

Australian treasurer Jim Chalmers’ main economic message is enjoy today because tomorrow is going to be tough

The Guardian - AU

Jim Chalmers’ first budget comes amid a darkening economic outlook. Here’s what could go wrong

The federal budget forecasts growth of 3.25% this year but hints at a slowing global economy with high inflation and interest rates

The Guardian - AU

‘The beginning of something new’: how the 2022-23 budget does things differently

Treasurer Jim Chalmers told reporters on Tuesday his first budget was “the beginning of something new and responsible”.

The Conversation

China Q3 GDP growth rebounds at faster pace but risks loom

BEIJING: China's economy rebounded at a faster-than-expected pace in the third quarter, but strict Covid curbs, a deepening property crisis and global recession risks are challenging Beijing's efforts to foster a robust revival over the next year.

Bangkok Post

Petrol price spike looms for motorists

Some retailers are already charging more than $2 a litre as cities move into the first new fuel cycle since petrol tax relief expired.

AAP

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Reuters

Australia floods to dent Dec-qtr GDP, spur inflation - Treasurer

Widespread floods that have inundated large parts of Australia's southeast will dent the country's economic growth and increase inflation, Treasurer Jim Chalmers said on Friday, ahead of next week's federal budget.

The Independent UK

Sex work and drug dealing boost GDP – not volunteering – says ex-Whitehall boss

Gus O’Donnell said maximising the economic measure is ‘really, really stupid’ and ‘not something any grown up wants to do’.

Bangkok Post

TAT prepares new phase of subsidies

The new phase of the domestic tourism subsidy programme is being drafted with an additional 3-4 million hotel rooms, double the number in the fourth phase, which is scheduled to end this month, as the government aims to push GDP growth to 3.3% this year.

Bangkok Post

An Asean country might be near a crisis

I am talking about an imaginary country which is a member of Asean. This country may or may not exist. To avoid unnecessary negative repercussions, this country shall remain nameless and be referred to as country "N" with its currency "D". This country is the star of Asean with a…

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Asharq Al-Awsat

Saudi Crown Prince Launches National Industrial Strategy

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz launched the National Strategy for Industry, which aims to promote industry and attract investment, leading to economic diversification and growth of non-oil exports and GDP. The Crown Prince, also Prime Minister and Chairman of the Council of Economic Affairs and Development, said…

Daily Mirror

Liz Truss gives MPs 'unequivocal commitment' on defence spending after minister threatens to quit

The Prime Minister's comments to the European Research Group came after a minister threatened to resign if she reneged on a commitment to increase defence spending to 3% of GDP by 2030

Daily Mirror

Liz Truss forced to insist defence pledge stays after minister threatens to quit

Armed Forces Minister James Heappey warned he would resign unless the Prime Minister stuck to a promise to raise defence spending to 3% of GDP by 2030

The Guardian - UK

Ben Wallace prepared to quit if PM drops pledge on defence spending

Defence secretary would hold Truss to pledges, says source, as he flies off for security talks in Washington

Asharq Al-Awsat

OECD Expects Saudi Arabia to Top G20 Economies for 2 Years

The real GDP growth projections of the Saudi economy are expected to reach 9.9 percent this year, and six percent in 2023, recording the highest growth rate among the G20 countries, according to a report by the Organization for Economic Cooperation and Development (OECD). The report "OECD Economic Outlook Interim…

Bangkok Post

Tourism, consumption lead GDP growth

The economy is on course for continuous recovery driven by increasing tourism activities and active private consumption, with the growth rate expected to return to pre-Covid level by the end of this year or beginning of 2023, according to Anucha Burapachaisri, the government spokesman.

The Times of India

India needs dedicated wing to release Green GDP estimates, says RBI article

MUMBAI: India needs to set up a dedicated wing in the environment ministry to release estimates of Green GDP periodically on a regular basis and create a user-friendly data dissemination platform, said an RBI article.

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