The Latest Breaking News on Economy

Economy contracted in December by 0.5% after expansion of 0.1% and 0.55% in previous two months

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 economy contracted sharply in December meaning, overall, there was no growth in the economy over the last three months of 2022

WASHINGTON — Only a few months ago many economists warned that a recession was not just inevitable, it was around the corner. Inflation would take years to curb. Surging unemployment was on its way.

More disruption likely as pay disputes go unresolved and industrial action continues

While inflation pressures are easing, the Fed chair cautioned that “these are the very early stages of disinflation. It has a long way to go.”

Federal Reserve Chair Jerome Powell said Tuesday that last week’s blockbuster U.S. jobs report showed it would likely take time to curb high inflation but that he expects a “significant decline” in inflation this year

Cooling inflation and a tight labor market have raised optimism that the economy might avoid a recession. As the global economic outlook turns optimistic, it could be wise to add quality stocks with solid fundamentals, Marathon Petroleum (MPC), HF Sinclair (DINO), and Overseas Shipholding (OSG), which look well-positioned to soar…

Investor optimism has increased considerably in the past few weeks thanks to cooling inflation figures, the Fed’s downshift on monetary tightening, and fading recession fears. Moreover, a strong job report reflects a fairly resilient economy. As the prospects for the global economy are improving, investors could consider buying fundamentally strong…