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The Latest Breaking News from GDP

US economy seen narrowly averting back-to-back contractions

The U.S. economy may have eked out modest growth in the second quarter, skirting back-to-back quarterly contractions, but rising at a tepid enough pace to feed concerns of an eventual downturn.

Tribune News Service

How costly political realities undercut Ghana's electricity reforms

Ghana reformed its electricity sector by the book but has lurched from blackouts between 2012 and 2015 to a glut of energy which costs government about 5% of GDP. Fitch ranks the energy sector as the biggest driver of national debt. How did this happen? It’s a classic case of…

The Conversation

IMF Raises Saudi Economic Growth Forecasts

The International Monetary Fund (IMF) has raised its 2023 growth forecasts for Saudi Arabia’s economy by 0.1% from April to 3.7%. It maintained its projections for the Kingdom’s economic growth during 2022 at 7.6% compared to 4.4% in January. This was revealed Tuesday in its World Economic Outlook report for…

Asharq Al-Awsat

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Whose GDP is it anyway?

It is time for political leaders to clamour for an overhaul of India’s economic performance measurement framework

The Hindu

EXPLAINER: How do we know when a recession has begun?

By one common definition, the U.S. economy is on the cusp of a recession

The Independent UK

IMF Cuts Global Growth Outlook, Warns High Inflation Threatens Recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a…

Asharq Al-Awsat

Five key things to know about the "is this a recession" controversy

It's hard to recall a White House deploying as much effort to pre-spin economic data.

Axios

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Spain raises inflation forecast for 2022, lowers GDP growth target for 2023

Spain raised its inflation forecasts for 2022 and 2023 and lowered its economic growth target for 2023, Economy Minister Nadia Calvino said on Tuesday, citing the war in Ukraine for its continued negative impact on European economies.

Reuters

Biden fights talk of recession as key economic report looms

President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession

The Independent UK

Biden's juggling act: Recession optimism could backfire

"I don't think, God willing, we're going to see a recession," Biden said Monday. "I'll be surprised."

Axios

Tech company earnings, US GDP and Australian inflation to dominate markets this week

US mega tech companies Microsoft, Google, Meta, Apple and Amazon all report earnings this week. It's one of five big stories influencing global markets.

The New Daily

Elon Musk Denies Affair With Google Co-Founder Sergey Brin's Wife, Putin Health Rumors, Monkey Pox Global Emergency And More: Key Stories You May Have Missed From This Weekend

The unfolding week is likely to test the nerves of investors, as they get to digest major market-moving catalysts, both on the economic and corporate fronts. A Fed meeting, second-quarter U.S. GDP data, and big tech earnings, all make things interesting. Ahead of the news-heavy week, here's a recap of…

Benzinga

Stocks Higher, Week Ahead, Boeing, Volkswagen and Monkeypox - Five Things To Know

Stock futures higher as Fed decision looms; Week Ahead: earnings, fed, GDP and inflation data; Boeing edges lower following St. Louis strike vote; Volkswagen slides on first day trading following CEO Diess ouster and WHO declares global health emergency over monkeypox outbreak.

The Street

Weighing in on India’s investment-led revival

Prospects of sustaining investment recovery are likely to get harder with a depreciating rupee and rising inflation

The Hindu

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Bangkok Post

Why Sri Lanka imploded so catastrophically

As Sri Lanka's economy unravels before our eyes, one must ask how this could happen in a country historically known for its high standard of living and stable economy. Sri Lanka's achievements go back decades, giving it a per capita GDP that is 70% higher than India's, and a life…

Asharq Al-Awsat

Egypt’s Economy Seen Growing Steadily

Egypt’s economy will grow fairly steadily over the coming three years, with inflation gradually declining from over 10% and the pound weakening in the near-term, a Reuters poll showed. Gross domestic product (GDP) is forecast to expand a median 5.5% in the fiscal year that began this month, according to…

Asharq Al-Awsat

UAE Real GDP up 8.2% in Q1 2022

The UAE central bank’s quarterly report indicated that total real GDP increased by 8.2% annually in the first quarter of 2022, state news agency said on Wednesday. The central bank expects real GDP to grow by 5.4% in 2022 and 4.2% in 2023, the statement added. It also expects non-oil…

The Conversation

United States: the end of an illusion of omnipotence

“I do not accept second place for the United States of America.” That simple statement, delivered to rousing effect by Barack Obama in his first State of the Union, in January 2010, managed to summarize the current American strategic horizon in a single sentence.

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The Guardian - UK

Defence secretary appears unenthused by Liz Truss spending pledge

Ben Wallace says he wouldn’t be able to immediately spend extra cash promised by Tory leadership candidate

The Guardian - UK

Russian gas shutoff would send some EU countries into recession, IMF warns

Fund says GDP in Hungary, Slovakia and Czech Republic would fall by up to 6%, with Italy, Germany and Austria also hit hard

The Guardian - UK

Truss targets Mordaunt with pledge to raise UK defence spending

Foreign secretary says she would up defence budget to 3% of GDP by 2030 and rethink size of armed forces

The Guardian - AU

With inflation rising in Australia, an uncomfortable truth is we waste a lot of what we have

Buying less may not directly translate into GDP. But it would have benefits for our planet and ease some of the supply-side inflationary pressures

StockNews.com

3 Consumer Discretionary Stocks to Trade Despite Higher Prices

Consumer discretionary goods have been bearing the brunt of GDP growth contraction and declining consumer sentiment. However, the sector has still managed to outperform the broader market. Therefore, quality consumer discretionary stocks Mannatech (MTEX), Pandora (PANDY), and The Procter & Gamble (PG), which are rated Buy in our proprietary rating…

Evening Standard

FTSE 100 Live: China GDP reveals Covid impact, Burberry shares slide

China’s Covid lockdowns slowed the country’s GDP growth to 0.4% in the second quarter, weaker-than-expected figures revealed today.

The Guardian - UK

Company insolvencies jump 40% in England and Wales; China’s growth slumps – as it happened

Pandemic and economic uncertainty caused by Brexit have added to pressures on businesses, insolvency expert says

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