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The Latest Breaking News from Economic Growth

Pandemic-level growth rates highlight economic ills

Australia is on track for two years of below-trend economic growth that may be even weaker than first feared.

The New Daily

Consumers keep cutting back as pressures mount

The pullback in non-essential spending continues as households scrimp on nice-to-haves so they can meet higher mortgage repayments.

AAP

US housing starts surge most since 2016, exceed all estimates

U.S. housing starts unexpectedly surged in May by the most since 2016 and applications to build increased, suggesting residential construction is on track to help fuel economic growth.

Tribune News Service

From analysis to the latest developments in health,
read the most diverse news in one place.

Ulster University's Magee campus gets €56 million funding boost from Irish government

Taoiseach Leo Varadkar said the expansion will 'foster new jobs and economic growth'

Belfast Live

Drowning in debt

Household debt has long been a concern for Thailand, impeding consumer spending and hindering economic growth.

Bangkok Post

Chinese youth unemployment hits record high as Covid recovery weakens

New data shows Chinese economic growth slowing, with property investment in steep decline and youth unemployment at a record high. Also, the US Federal Reserve confirms its "hawkish pause" policy, keeping interest rates steady for now but planning for more hikes. Finally, economists name an unlikely culprit for persistent Swedish…

France 24

Commentary: By the treasury secretary’s own definition, we’re back in recession

Last month, the Department of Commerce released troubling data on the anemic economy, showing that gross domestic income (GDI) shrank in the previous six months. That’s no surprise to half of Americans who believe we’re currently in a recession, but the data refute President Joe Biden’s claim that the economy…

Tribune News Service

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Going down: the 6 graphs that show Australia's economic growth shrinking

The latest national accounts tell us Australia’s economy grew by just 0.2% in the three months to March.

The Conversation

Rishi Sunak lays wreath at Arlington National Cemetery on first day of US visit

A Union Flag was carried by the party accompanying the Prime Minister as he made his way to the monument

Evening Standard

Time to rethink humanity's relationship with the oceans

The COVID-19 pandemic exposed the fragility of economic systems focused solely on economic growth.

360info

Moody’s chief economist issues dire warning to Fed about future rate hikes

"Economic growth is fragile."

Fortune

Success in net zero push 'will depend on ability to innovate' - Yousaf

First Minister says his government has no problem with business prosperity, so long as economic growth has a purpose

Insider UK

Pure economic growth neglects many, privileges the few

A wellbeing economy places people and the planet at the centre of creating a healthier society.

360info

Six economic myths that wellbeing economies seek to address

The failures of free market fundamentalism and neoliberalism are based on a series of flawed economic assumptions. There is another way.

360info

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Bangkok Post

HSBC Thailand prepares strategy for expansion

HSBC Thailand aims to raise fresh funds and secure an additional licence in preparation for local business expansion in line with the country's economic growth.

Evening Standard

World’s richest suffer biggest wealth drop in a decade

The world’s richest individuals have seen the biggest annual decline in the size of their wealth for a decade, new research has revealed, in signs even internationally mobile billionaires are taking a knock from soaring inflation and a slowdown in economic growth.

The National (Scotland)

Scottish economy grows four times faster than UK's in latest figures

SCOTLAND’s economy grew by 0.4 per cent between January and March, outpacing UK economic growth of 0.1 per cent.

The Independent UK

Ukraine's economy shows 'resilience' from Russian attacks, IMF says as it backs aid

International Monetary Fund has signed off on an initial loan of $900 million and raised its estimate for the country’s economic growth

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Fortune

The Money Doctor who has slayed inflation for 50 years says the Fed has overcorrected so badly they’re hastening the long-feared recession

The Fed's monetary squeeze "is aimed at a problem that’s over, and the effect from here will be to hammer consumer demand and economic growth," predicts Steve Hanke of Johns Hopkins.

The Conversation

How Erdoğan framed his science and tech 'great achievements' as part of election campaign

President Recep Tayyip Erdoğan has ruled Turkey for the last 21 years. In the first few terms of his rule, Turkey experienced significant economic growth and a reduction in inequality. This was widely believed to be a reason for Erdoğan’s long-term popularity.

The Hindu

Economics that looks at lower half of the pyramid

The model of economic growth that has guided national and international policies since the 1990s will not create healthy democracies

Birmingham Post

East Midlands Chamber says it’s time to call-out Government over chronic underinvestment in local infrastructure

Lack of investment having a negative impact on regional economic growth, productivity, sustainability and social mobility

The Independent UK

US economic growth for last quarter is revised up to a still-tepid 1.3% annual rate

The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday, a slight upgrade from its initial estimate

Tribune News Service

Israel passes budget with big grants to ultra-Orthodox

Israel’s parliament passed a national two-year budget that includes billions of dollars in funding for West Bank settlements and religious programs, stabilizing Prime Minister Benjamin Netanyahu’s right-wing coalition. The shekel weakened as critics warned the plan would suppress rather than spur economic growth.

AAP

All signs point to lower economic growth than usual

The national economy is tracking toward a contraction in activity, with the patchy performance expected to continue into next year.

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