The Latest Breaking News on Economy

Contraction driven by royal occasions, meaning sectors like construction and finance lost a working day, Office for National Statistics says

Groups who benefited from strong jobs growth will be the first to lose work come a recession

The implementation of the fiscal 2024 budget, starting on Oct 1, will be delayed if the new prime minister and government are not appointed within this month, according to the Budget Bureau.

Rising interest rates haven’t slowed consumer spending enough to bring the economy into a recession so far, but it could still be on the horizon.

For millions of individuals that means real spending cuts — which could translate to a slowdown for the economy overall.

Increase in taxes, prioritisation of government programmes, and additional borrowings will together fund the five pre-poll guarantees of the Congress government, even as allocation to some crucial departments and subsidies have come down in the full-fledged “guarantee Budget” presented by Chief Minister Siddaramaiah on Friday.

The Budget for the year 2023-24 presented by Chief Minister Siddaramaiah on Friday received mixed reactions from various quarters. While ruling party leaders have welcomed it, the Opposition has criticised it.

Rise was lower than the 240,000 jobs economists had expected though job market remains robust

It's another sign of the continued labor market strength.

Another solid month of hiring in the United States is expected to be reported Friday, an outcome that would suggest no recession is in sight yet could make it harder for the Federal Reserve to succeed in its drive to cool the economy and curb high inflation

Markets didn't wait for Friday's jobs report to get nervous. A July Fed rate hike now looks like a lock, and odds are rising for another this year.