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The Latest Breaking News from GDP

The Fed's Key Inflation Rate Eases But Wage Growth Stays Hot, Sealing Rate Hike; S&P 500 Rises

The Federal Reserve's key inflation rate eased but strong worker pay in Q1 may have sealed a rate hike next week. The S&P 500 is rallying.

Investors Business Daily

Dow Jones Rises After Surprise Fall In Jobless Claims. Meta Surges, But This Hot AI Stock Crashes 30%.

The Dow Jones rose Thursday after a surprise drop in jobless claims. Meta stock surged, but hot AI stock Mobileye crashed 30% on earnings.

Investors Business Daily

Stock Index Futures Move Higher as Investors Await Key U.S. GDP Data, Meta Surges on Upbeat Earnings

June S&P 500 futures (ESM23) are up +0.46%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.79% this morning as market participants digested consensus-beating results from Meta Platforms while awaiting U.S. GDP reading to gauge the strength of the U.S. economy.

Barchart

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Scotland’s GDP remains below pre-pandemic levels

Economy grew by 0.2% in the final quarter of last year, but remains 0.4% below the same period in 2019

Insider UK

Poland has changed beyond recognition – and so has its place in Europe’s pecking order

Since 1989 my family has gone from farm labourers to high achievers. Something similar has happened to my country, says social scientist Anna Gromada

The Guardian - UK

9.9% increase in taxes collected in 2022-23

Tax receipts equated to 31.4% of GDP in 2022 -23, according to HM Revenue and Customs figures.

The Independent UK

Schizophrenia being displayed at the IMF

It has taken far too long, but it seems that the International Monetary Fund has finally internalised some hard truths about sovereign-debt reduction. Chief among them is that growing economies have an easier time repaying. As such, fiscal consolidation -- the organisation's favoured strategy -- undermines efforts to reduce debt-to-GDP…

Bangkok Post

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U.S. spent more on military in 2022 than next 10 countries combined

Global defense spending hit record $2.2 trillion last year.

Axios

Defence spending in western and central Europe tops last year of cold war

Stockholm International Peace Institute’s annual report finds UK was region’s biggest spender in 2022 at $68.5bn

The Guardian - UK

Justin Trudeau and NATO: The problem with Canadian defence isn’t cash, it's culture

A recent open letter signed by 61 Canadian retired security professionals called on Canada to meet its commitment to NATO’s goal of two per cent of GDP in defence spending. It was quickly followed by a Washington Post revelation that Canada will never meet that target.

The Conversation

Weekly Must-Read: China’s First-Quarter GDP Grows 4.5% on Pick-Up in Consumption, Industrial Production

The figure beats expectations and surpasses the 2.9% growth rate for the fourth quarter, when the country was still sticking to its stringent ‘zero-Covid’ policy most of the time

Caixin Global

The Biden Administration Reduced the Debt-to-GDP Ratio in the Worst Possible Way

The main driver behind the reduction is inflation—inflation that politicians created with their irresponsible spending.

Reason

Commentary: Biden’s stall tactics won’t fix the federal government’s finances or bring down inflation

If you listen to Treasury Secretary Janet Yellen or President Joe Biden, it sounds like the country will implode if Congress fails to raise the debt ceiling in a couple months. But Biden’s words don't match his actions.

Tribune News Service

ASPS lists stock picks for Chinese recovery

Asia Plus Securities (ASPS) says investors should consider 20 stocks that are expected to benefit from a Chinese economic recovery after the country's first-quarter GDP grew by 4.5%, the highest in a year.

Bangkok Post

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Barchart

Dollar Slips as T-Note Yields Fall

The dollar index (DXY00 ) on Tuesday fell by -0.36% as T-note yields declined. Also, strength in the Chinese yuan Tuesday undercut the dollar after China's Q1 GDP expanded more than forecast. Hawkish comments Tuesday from St. Louis Fed President Bullard and Atlanta Fed President Bostic provided underlying support for...

France 24

‘Recovering from Covid’: Chinese economy grows 4.5% in first quarter of 2023

China's economy grew faster than expected in the beginning of the year at 4.5 percent, on the back of strong export and infrastructure investment figures. GDP is bouncing back after the country put an end to its so-called "Zero-Covid" policy and as the government has pledged to do more to…

The Guardian - UK

FTSE 100 racks up eighth day of gains despite rising insolvencies and unemployment – as it happened

More firms are at risk of tipping from ‘danger’ to ‘distress’, experts warn, as businesses are hit by soaring costs and weak economy

Bangkok Post

Region's state debt reaches 18-year high

The average government debt level in Asia-Pacific is at an 18-year high, with most developing economies in the region trying to stabilise it at current levels by 2027, according to recent research.

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The Conversation

Debt dangers in Africa: how defaults hurt people, and why forgiveness isn’t the answer

Public debt repayments in some African countries are at their highest levels since 1998. The Conversation Africa’s founding editor Caroline Southey talks to dean and economics professor Philippe Burger about the danger of debt problems some African countries face.

Asharq Al-Awsat

Oil Steady as Market Awaits China GDP Data

Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer. Brent crude futures nudged 7 cents lower to $86.24 a barrel by 0746 GMT, while US West Texas Intermediate crude was at $82.47 a barrel, down 6…

Asharq Al-Awsat

World Bank: Peace Deal in Yemen Would Push Toward Sustainable Growth

The World Bank has revealed that in case a lasting truce or peace arises, the Yemeni economy could register more sustainable growth within months of the agreement.

Asharq Al-Awsat

China’s Economy Expected to Rebound as Zero-Covid Era Fades

China is expected to announce an economic rebound on Tuesday, when Beijing releases its first quarterly GDP figures since abolishing growth-sapping Covid restrictions late last year. The Asian giant's virus containment policy -- an unstinting regime of strict quarantines, mass testing and travel curbs -- strongly constrained normal economic activity…

Evening Standard

‘Britain is back’ after mini-Budget meltdown, says Jeremy Hunt

Although the Chancellor restored some confidence in the economy following the mini-Budget UK GDP is on track to contract by 0.3 per cent across 2023

Asharq Al-Awsat

IMF Warns: MENA Region Faces 4 Challenges

Growth of the real GDP in the Middle East and North Africa (MENA) region is projected to slow this year to 3.1 percent from 5.3 percent in the previous year, announced Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), Jihad Azour. Azour added…

The Guardian - UK

Economic hit from public sector strikes worth it to tame UK inflation, says Hunt

Chancellor’s remarks come despite industrial action being major factor in zero GDP growth in February

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