Sunday, December 22

Tag: economic growth

U.K. Economy Shrinks, But BOE Unlikely to Be Pushed Into Rapid Rate Cuts 
13Dec By adminNo Comments
World

U.K. Economy Shrinks, But BOE Unlikely to Be Pushed Into Rapid Rate Cuts 

Updated Dec. 13, 2023 3:01 am ETThe U.K. economy shrank a little more than expected in October, though likely not enough to convince the Bank of England to start cutting interest rates from their current elevated levels in the short term.Gross domestic product fell by 0.3% compared with a month earlier, according to preliminary figures set out Wednesday by the Office for National Statistics. Economists polled by The Wall Street Journal had expected GDP to contract by 0.1%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Economists Keep Singapore 2023 Growth Forecast Steady, Trim 2024 View in MAS Survey
13Dec By adminNo Comments
World

Economists Keep Singapore 2023 Growth Forecast Steady, Trim 2024 View in MAS Survey

Dec. 12, 2023 11:04 pm ETSINGAPORE—Experts surveyed by Singapore’s central bank have maintained their economic growth forecast for this year, but trimmed their views for 2024, flagging risks from an external slowdown.The Monetary Authority of Singapore’s December survey, released Wednesday, showed that the median projection of economists and analysts is for gross domestic product growth of 1.0% in 2023. That is unchanged from the previous quarterly survey, in which the forecast was lowered from 1.4%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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ADB Raises Growth Forecasts for Asia Despite Continued Headwinds
13Dec By adminNo Comments
World

ADB Raises Growth Forecasts for Asia Despite Continued Headwinds

The economic outlook for Asia seems upbeat despite global challenges, the Asian Development Bank said as it raised growth forecasts for the region.Citing resilient economic activity in the face of persistent headwinds, the Manila-based multilateral bank now expects developing Asia to record growth of 4.9% for 2023. That is up from the 4.7% it had projected in September. It kept its 2024 forecast for the area, which comprises 46 of its members, including China, South Korea and India, at 4.8%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Chinese Leaders Vow to Step Up Support for Flagging Economy
12Dec By adminNo Comments
World

Chinese Leaders Vow to Step Up Support for Flagging Economy

Chinese leaders vowed to increase government spending and monetary support for the economy at an annual gathering, signaling they plan to stick with a measured approach to stimulus despite calls for bolder action. The Central Economic Work Conference, which ended Tuesday, capped a bruising year for the country’s economy, which has struggled with a drawn-out housing crunch and weak consumption.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Gold to Take Hit if U.S. Economy Has Soft Landing, But Risks Remain, WGC Says
7Dec By adminNo Comments
World

Gold to Take Hit if U.S. Economy Has Soft Landing, But Risks Remain, WGC Says

Gold prices are likely to take a hit if the U.S. economy achieves a so-called soft landing in 2024 and avoids a recession, despite rising inflation and interest rates this year, according to the World Gold Council.In its 2024 gold outlook, the industry body said the market is currently anticipating a soft landing for the U.S. economy—in which inflation falls without any significant negative side effects—which should boost the global economy with it. Based on past data, soft landings generally haven’t benefited gold, with prices either holding flat or falling.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Australia’s Economy Grew More Slowly in Third Quarter as High Rates Bite
6Dec By adminNo Comments
World

Australia’s Economy Grew More Slowly in Third Quarter as High Rates Bite

SYDNEY—Australia’s economy grew by less than expected in the third quarter, fanning concerns that the Reserve Bank of Australia may have hit the policy brakes too hard by continuing to raise interest rates earlier this month.The economy expanded 0.2% in the third quarter and 2.1% from a year earlier, the Australian Bureau of Statistics said Wednesday. Economists had expected growth of 0.3% in the quarter.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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RBI: RBI to retain 6.5 pc interest rate as economic growth comfortable, inflation in check: Experts
3Dec By adminNo Comments
Business

RBI: RBI to retain 6.5 pc interest rate as economic growth comfortable, inflation in check: Experts

MUMBAI: The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review later this week, with inflation staying in comfort zone and economic growth moving at an accelerated pace, opined experts. The RBIhas left the benchmark policy rate (repo) unchanged in its past four bi-monthly monetary policies.The RBI had last increased the repo rate In February to 6.5 per cent, thus ending the interest rate hiking spree which began in May 2022 in the aftermath of Russia-Ukraine war and subsequent disruptions in the global supply chain resulting in high inflation in the country. RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) is scheduled to begin its three-day deliberations on December 6. Das would unveil the decision of the six...
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Germany Gets Honest About What Net Zero Will Cost
3Dec By adminNo Comments
Health

Germany Gets Honest About What Net Zero Will Cost

If you had “net zero causing Germany’s government to collapse” on your 2023 bingo card, congratulations—you may end up a winner. Chancellor Olaf Scholz’s administration is falling apart because it turns out someone will have to pay for decarbonizing the eurozone’s largest economy.This shocking and horrifying revelation is brought to you by Germany’s highest constitutional court, which ruled in mid-November that Berlin’s favorite budget gimmick violates the balanced-budget amendment. The amendment, known as the debt brake, limits the federal general-budget deficit to 0.35% of gross domestic product in any year unless Parliament declares an emergency.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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How Rising Profits Could Prevent the Economy From Faltering
3Dec By adminNo Comments
Money

How Rising Profits Could Prevent the Economy From Faltering

Profits have been making a comeback. That makes a comedown for the U.S. economy seem less likely.The Commerce Department on Wednesday reported that before-tax corporate profits rose 1.1% from a year earlier in the third quarter. This compares with a decline of 6% in the second quarter. Moreover, that profit figure includes the income of Federal Reserve banks, which have lately been losing money owing to the combination of their big holdings of Treasury and mortgage securities and the sharp increase in rates. Exclude the Fed, and corporate profits rose by 6.7% in the third quarter compared with a gain of 1.6% in the second.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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