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The Latest Breaking News from GDP

Autumn statement is highly political compared to research on 'best' ways to fix public finances

The UK faces some significant belt-tightening following Chancellor Jeremy Hunt’s autumn statement, which announced spending reductions and tax rises of around £55 billion. Much research has been done into the best ways to do fiscal austerity in terms of reducing debt, avoiding economic damage and not exacerbating inequality. So how…

The Conversation

Winning the World Cup could save the country from a recession

Does hosting a World Cup boost your economy?

Evening Standard

Caixin Summit: China Should Set GDP Target of No Less Than 5% for 2023, Top State Economist Says

Liu Shijin, a member of the top political consultative body, said momentum was building for a turnaround next year after a slowdown in 2022

Caixin Global

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Wales the only UK nation not to see growth in its economy shows new ONS figures

Based on the GDP measure in the first three months of 2022 growth in Wales was flat

Birmingham Post

Russia falls into recession as Western sanctions lead to a 4% fall in GDP

Russia has plunged into a recession after its economy shrank by 4% in the most recent financial quarter, with the effects of Western sanctions on trade now taking hold

Daily Mirror

What Was the COVID-19 Recession? Is There an End in Sight?

What Was the COVID-19 Recession?According to the National Bureau of Economic Research (NBER), the official arbiter of recession, a sharp economic downturn coincided with the onset of the COVID-19 pandemic. It officially categorized the COVID-19 recession as a two-month contraction between February ...

The Street

Autumn statement 2022: Grim historic milestones facing the UK economy

Living standards are set to slump back to levels last seen in 2013/14.

The Independent UK

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Autumn Statement post-mortem: living standards to plummet as taxes soar

If there is one figure to bear in mind amid a sea of epically bad numbers in today’s Autumn Statement and accompanying Office for Budget Responsibility (OBR) fiscal outlook, it is this: underlying public sector net debt will be £400bn (18% of GDP) higher in 2026-27 than was forecast in…

Evening Standard

Living standards to plummet over next two years, warns OBR with tax burden highest since WW2

Real household disposable income per person is expected to drop by more than seven per cent by 2024 - wiping out a decade’s worth of gains

Evening Standard

Autumn Statement 2022: Key points from Jeremy Hunt’s speech

The Chancellor said his priorities were stability, growth and public services as he delivered the autumn statement

Evening Standard

At a glance: Key points from Chancellor Jeremy Hunt’s autumn statement

The Chancellor said his priorities were stability, growth and public services as he delivered the autumn statement

Wales Online

Opinion: The Yuan’s Status as a Reserve Currency Could Improve

After the recent turmoil in forex markets blows over, central banks around the world will be likely to reduce their holdings of the yen, pound and even the euro, allocating more assets to the more stable yuan

Caixin Global

UK already in recession and GDP to fall by 1.4% in 2023, Jeremy Hunt says

Office for Budget Responsibility forecast that the UK economy will shrink further next year as Brits face rocketing inflation and cost-of-living crisis

Daily Mirror

Chancellor confirms £55 billion fiscal 'consolidation'

The Scottish Government is set to receive around an additional £1.5bn over 2023-24 and 2024-25

Insider UK

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Wales Online

More people to pay higher rate of tax as inflation projected to fall in 2023

The Chancellor said inflation was predicted to fall next year

The Guardian - UK

Autumn statement 2022: key points at a glance

Jeremy Hunt is announcing his financial update – here are the main points, with political analysis

Asharq Al-Awsat

Royal Commission Prepares Infrastructure to Attract Investments in Jazan

The Royal Commission for Jubail and Yanbu (RCJY) signed investment and construction agreements worth over $266 million with several investors in Jazan City. The city concluded the agreements in the presence of chairman Khalid al-Salem who confirmed that the new contracts contribute to achieving the city's goals. Salem explained that…

The Japan News/Yomiuri

GDP declines by annualized 1.2% in July-Sept. quarter

Japan's gross domestic product in July-September declined 0.3% from the previous quarter in price-adjusted real terms, according to a preliminary report released by the Cabinet Office Tuesday.

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Newsroom.co.nz

NZ absent on COP27 agriculture day

Rod Oram reports from the world climate summit that a session dedicated to agriculture had a notable absentee, New Zealand's Fonterra and farming industry

Evening Standard

The Standard View: Autumn Statement pain is coming, but we need a long-term prosperity plan

Today’s figures confirm what the forecasters and the Bank of England have already predicted: the British economy is shrinking. GDP contracted by 0.2 per cent between July and September, as spiralling prices and energy bills impacted households and businesses.

The National (Scotland)

Latest recession warning a 'damning indictment' of Tory governance

THE UK economy shrunk by 0.2 per cent between July and September, in what some experts say could be the start of the longest recession since record…

Insider UK

Economy shrinks in what could be start of a long recession

Latest GDP figures show a 0.2% contraction between July and September

Dynamite News

GDP Growth: Moody's Cuts 2022 Growth Forecast For India To 7%

For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. Read on for details:

Manchester Evening News

BREAKING: UK economy shrinks by 0.2% in move feared to be start of major recession

GDP fell by 0.2% in the three months to September as services, production and construction industries all slowed down and cost-of-living pressures bite

Daily Mirror

UK economy shrinks by 0.2% in move expected to be start of a major recession

GDP fell by 0.2% in the three months to September as services, production and construction industries all slowed down - and Jeremy Hunt warned of 'extremely difficult decisions' in the Autumn budget

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