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The Latest Breaking News from GDP

UK narrowly avoids recession for second time in a year but set for one in 2023

The figures come amid predictions that about one in four will be "unable to meet in full their planned energy and food bills from their post-tax income" in the 2023-24 financial year

Daily Mirror

Welsh economy sees biggest contraction of any UK nation

The ONS has released latest GDP figures from the nations and regions of the UK

Birmingham Post

Michigan, Metro Detroit outpaced nation in economic recovery, report says

Michigan and Metro Detroit have outpaced the nation's economic recovery in the wake of COVID-19, according to the Detroit Regional Chamber's State of the Region report released Wednesday.

Tribune News Service

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China’s Growth Prospects After Zero-Covid

Despite the IMF upgrading its GDP projection, China is facing major downward pressures that seem likely to constrain its recovery, in both the short and medium term.

The News Lens

Thai economic prospects far from rosy

Logically, one would imagine that 2023 would be a much better year than 2022. Covid is over in every corner of the earth and economic activities resume. The world oil price is below US$80 (2,677 baht) per barrel and inflation is coming down. At the first meeting of 2023, the…

Bangkok Post

Kenya's president wants taxes to replace foreign debt – seven ways to get there

In the run-up to Kenya’s 2022 polls, economic issues, particularly public debt and joblessness, took centre stage. The Kenya Kwanza team led by William Ruto suggested that Kenya had over-borrowed, a habit they pledged to stop. Ruto’s rivals defended the debt, insisting investment in infrastructure would spur economic growth.

The Conversation

We’ve avoided recession for now, but the outlook is one of perma-gloom

December’s GDP was boosted by us all cranking up the heating. Actual economic growth has not looked so weak in decades

The Guardian - UK

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These 3 Dividend Stocks Are Worth Investing In

While the better-than-expected GDP growth in the last quarter and declining inflationary pressures are raising optimism, macro uncertainties remain. With interest rate hikes expected to continue, recession possibilities cannot be ruled out. Therefore, fundamentally sound dividend-paying stocks, AbbVie (ABBV), Gilead Sciences (GILD), and Sisecam Resources (SIRE), could be worth investing…

StockNews.com

Recession will be shallower and shorter than predicted, says Bank of England

The Bank of England now expects a shallower and shorter recession this year than it predicted in November - although GDP will still not return to peak levels until 2026.

Evening Standard

The Bank of England has raised interest rates to 4%

It means mortgages and other debt will become more expensive for millions of people

Wales Online

Britain has missed out on £400bn of growth since 2010, says TUC

Tories blamed for creating economic ‘doom loop’ that fails to recognise negative impact of spending cuts

The Guardian - UK

‘Riding a rollercoaster’ in Myanmar’s post-coup economy

Deepening conflict, sudden changes to regulations and a lack of transparency have made business increasingly hard.

Al Jazeera

Lofty expectation for metaverse potential

A projection suggests the metaverse could contribute US$11-21 billion per year to the Thai economy by 2035, according to research conducted by London-based consultancy Deloitte.

Bangkok Post

Owning These 3 Stocks Could Make You Rich in 10 Years

Consistently falling prices and stronger-than-expected fourth-quarter GDP are renewing hopes about the economy’s overall health. Therefore, it could be wise to add quality stocks with solid fundamentals, Walmart (WMT), Bristol-Myers Squibb (BMY), and CVS Health (CVS), to your portfolio to garner substantial returns in 10 years. Read more….

StockNews.com

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Chronicle Live

Eight money changes to look out for in February - from a new Universal Credit rule to energy price cap

This list will help you keep on top of any changes that could affect your finances this month, including interest rate and Ofgem price cap announcements

Asharq Al-Awsat

Saudi Economy Grows 8.7%

Saudi Arabia registered an 8.7% economic growth in 2022, the General Authority for Statistics (GASTAT) said on Tuesday. The real GDP of the Kingdom during the fourth quarter of 2022 grew by 5.4 percent, compared to the same period in 2021. “This increase in GDP was a result of the…

Evening Standard

UK to be worst-performing major economy in 2023 (including Russia), says IMF

Friends say I’m obsessed with the US economy. And they’d be right. First, there’s its sheer size: 24 per cent of global GDP on 4 per cent of the population. Second, its relentlessness: prior to the Covid-19 pandemic, America was enjoying its longest-ever economic expansion. Third, the wealth it generates…

Dynamite News

Economic Survey: Capital Expenditure In India Rises 63 Per Cent In 2022-23

Capital expenditure spending in India increased by 63.4 per cent in the first eight months of 2022-23 according to the Economic Survey document for 2022-23, which was tabled in Parliament on Tuesday. Read full story on Dynamite News:

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France 24

IMF says global growth 'surprisingly resilient' in updated forecast

The International Monetary Fund's new projections for 2023 show GDP for the world economy growing by 3.2 percent, compared to a 1.9 percent expansion last year. The improved forecast is aided by China's scrapping of its zero-Covid policy and the fall in gas prices. Also on the programme, we report…

Asharq Al-Awsat

Dubai International Financial Center Announces Metaverse Platform

The Dubai International Financial Centre (DIFC) launched the DIFC Metaverse Platform in line with the Dubai Higher Committee for Future Technology and Digital Economy's aim to attract technology innovators worldwide. The DIFC Metaverse Platform is aligned with the Dubai Metaverse Strategy, which aims to add $4 billion to Dubai's gross…

The Times of India

Economy to grow by 7% in FY23; current account deficit may widen: Highlights of Economic Survey 2023

Chief economic advisor (CEA) V Anantha Nageswaran on Tuesday unveiled the Economic Survey 2022-23 and said that the Indian economy is poised to do better on the back of reforms undertaken by the government.

The Guardian - UK

Britain to be worst-performing major economy this year, warns IMF; UK mortgage approvals tumble and company insolvencies surge – as it happened

Britain is the only G7 economy forecast to shrink in 2023, the IMF says, as higher energy prices, rising mortgage costs and increased taxes hit growth.

The Guardian - UK

Higher obesity levels linked to lower productivity in England, research shows

Report by former government adviser says plan needed to tackle obesity, thought to cost UK economy £27bn a year

The Independent UK

IMF warns UK economy is set for sharp contraction in ‘weakest performance among G7’

IMF predicts UK economy will contract by 0.6% in 2023 as Britain looks set to suffer more than most from soaring inflation

Wales Online

UK tipped to be weakest major economy in world as cost-of-living crisis hits households hard

The IMF has predicted UK output to shrink by 0.6% this year

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