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The Latest Breaking News from GDP

Dow Jones Rises 175 Points After Jobless Claims, GDP Data; Schwab Drops On Downgrade

The Dow Jones rose 175 points Thursday after first-time jobless claims and Q4 GDP data. Schwab stock dropped on an analyst downgrade.

Investors Business Daily

Stocks Set to Open Higher as Investors Await Key U.S. GDP Data, Bank Fears Continue to Ease

June S&P 500 futures (ESM23) are up +0.36%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.27% this morning after three major U.S. benchmark indices ended the regular session with solid gains as risk appetite continued to rebound from turmoil in the banking sector, while upbeat outlooks from several…

Barchart

FTSE 100 Live: Share rebound continues, US GDP revised down, Allianz still predicts UK recession

London’s main stock index started the last trading day of the first quarter of 2023 with gains, after a readout for the economy showed better growth in the final three months of last year.

Evening Standard

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Ministers to discuss UK joining Pacific trade pact this week, says Downing Street

Trade agreement could give UK tariff-free access to market worth 13% of global GDP

Evening Standard

Egypt to Raise Food Subsidies Spending by 20% in FY 2023/24 Draft Budget

Egypt expects to raise its allocation for food subsidies by 20% and for petroleum products by 24% in the 2023-24 fiscal year, according to a draft budget approved by the cabinet on Wednesday. The budget forecasts GDP growth at 4.1% and inflation at an average rate of 16% during the…

Asharq Al-Awsat

Scottish GDP rises by almost 1% in January

CBI Scotland argues that the uplift can’t mask ongoing challenges facing the economy

Insider UK

France has narrowed its budget deficit, but how does it compare to other EU states?

French economists and public auditors alike breathed a sigh of relief as the national statistics agency INSEE on Tuesday published an annual report showing that the country’s 2022 budget deficit dipped below 5% of GDP. Public debt also slightly decreased. Despite these hopeful figures, France still remains one of the…

France 24

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GDP, Consumer Confidence and Other Can't Miss Items to Watch this Week

Fed weeks always make for a good time with trading, and last week was no different. While the Fed Funds rate did not really move the market as it hit where it was expected with a 25 basis point increase.

Barchart

Defeating the Dictators review: prescriptions for democratic health

Charles Dunst salutes Joe Biden’s domestic spending but also points to how Trump’s sclerotic grip still hobbles the US

The Guardian - US

Taiwan’s Housing Crisis (Part 1): Taiwan’s Housing Prices Are Among the Highest Globally but Wages Are One of the Lowest Among Advanced Countries

In countries with similar housing prices, the minimum wage is two to four times higher.

The News Lens

Is the 'Climate Time-Bomb' Really Ticking Toward Imminent Catastrophe?

Climate change is a problem, but the IPCC AR6 Synthesis Report is wrong to suggest that humanity is on the brink of catastrophic warming.

Reason

What is a wellbeing economy and what does it mean for Scotland?

ON Wednesday MSPs are set to hold a debate on Scotland’s transition to a wellbeing economy.

The National (Scotland)

NATO chief urges members to boost defence spending as only 7 hit target

NATO chief Jens Stoltenberg urged member countries to speed up increases in defence spending as new figures showed fewer than a quarter of them meeting the alliance's target.

Reuters

Spring Airlines sees recovery in flights

Flights between Thailand and China on Spring Airlines have recovered to 50% of pre-pandemic levels and are expected to resume normal frequencies this year, aided by high demand and a forecast of 5% Chinese GDP growth.

Bangkok Post

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Reuters

World Bank estimates Syria's three-year earthquake recovery needs at $7.9 billion

The World Bank on Monday said the February earthquakes are expected to have caused Syria's real GDP output to contract by 5.5% in 2023, with recovery and reconstruction needs estimated at $7.9 billion over three years.

The Guardian - UK

Economic growth is not a magic wand for ending poverty

Misguided policies are hurting the poorest in society; our focus should be on reducing inequality not increasing GDP

Newsroom.co.nz

Why our economy is too important to leave to the experts

It's time to democratise economics and demand an economy that works for people and the planet, argues Catherine Knight

The Conversation

Budget 2023: why the UK's fiscal watchdog does not share the chancellor's optimism

UK chancellor Jeremy Hunt confidently described his first budget of 2023 as a “budget for growth”. He went on to offer a fairly upbeat assessment of both economic performance and future prospects, arguing: “The declinists are wrong and the optimists are right.”

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Evening Standard

UK economy will deliver worst performance of any advanced country this year

Britain’s GDP is forecast to fall by less than previously expected, but is still behind all other major economies

Caixin Global

Weekly Must-Read: Why China Set Its 2023 GDP Growth Target at ‘Around 5%

The new leadership set what many consider to be a moderate goal despite stronger-than-expected economic activity this year and a low base in 2022

ABC News

Remittances are more than 20pc of Vanuatu's GDP, but fees to send money home from Australia are high

Pacific Australian Labour Mobility scheme worker John Firiam says sending remittances to his wife and five-year-old daughter in Vanuatu is more important than ever after the recent twin cyclones.

Daily Mirror

Troop and tank cuts going ahead despite defence spending boost, signals minister

Baroness JoJo Penn insisted: "The vision for the future of our defence that we set out in the original Integrated Review remains the vision for defence that we have set out in this country"

Evening Standard

Hunt gets back on the boring track — but where’s the vision?

City Voices: More radical thinking needed to get Britain growing

The Independent UK

UK’s tax burden on course to hit highest level since Second World War

The UK’s tax burden is expected to reach a post-war high of 37.7% of GDP in 2027-28.

Asharq Al-Awsat

Saudi GDP Exceeds $1 Tln, Shows Kingdom’s Economy Is on Right Track

The size of Saudi Arabia’s GDP, which reached $1.7 trillion in 2016, demonstrated that the Kingdom’s economy is on the right path as it advances the implementation of Vision 2030. Vision 2030 is a unique transformative blueprint that aims to diversify and double the size of the Saudi economy, so…

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