The Latest Breaking News from GDP

Ukraine is burning through money fast. The invasion by Russia has been costly for the country. According to the International Monetary Fund, Ukraine’s GDP could shrink by 35% as a result of the war. The country’s international grain exports have been severely hampered, with a recent deal to restart exports…

Remittances from Moroccan expats hit a record high at 93.7 billion dirhams ($9.37 billion) in 2021, up 37.5% compared to 2020, Bank Al Maghrib’s (BAM) annual report on the kingdom’s economic, monetary and financial situation showed. Central Bank Governor Abdellatif Jouahri presented the report to King Mohamed VI at the…

The US Commerce Department on Thursday announced that the country’s gross domestic product had fallen for the second consecutive quarter, although President Joe Biden said the economic data overall “doesn’t sound like a recession”. In most countries, two successive quarters of GDP decline qualify as a recession – but not…

Ask economists, analysts and the White House if the United States is in a recession, and you will get different answers. With the U.S. posting two straight quarters of negative GDP growth, one definition of a recession was hit this week. Did the world’s richest man correctly predict a recession?

Free community based online encyclopedia Wikipedia allows users to update sites with information and facts. Sometimes users take things too far and post funny items or inaccurate information. In the case of the word “recession,” multiple attempts to change the definition led to the page being locked.

An editing battle over its "recession" entry prompted Wikipedia to put a temporarily lock on revisions to prevent new users from repeatedly changing the definitions of recession.

"The fact-checking industry has become a partisan arbiter of political disputes," notes Phil Magness.

While high inflation and GDP decline for two consecutive quarters are raising recession fears, better-than-expected corporate profits and the possibility of a less aggressive rate hike have been restoring investor confidence. Regardless of the uncertainties surrounding the economy and the market, investing in Abbott Laboratories (ABT), Coca-Cola Consolidated (COKE), DLH…

Back-to-back GDP slowdown, Fed raises rates, higher prices and other economic highlights from a busy week.