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The Latest Breaking News from Economy

There won’t be a true recession anytime soon—but a ‘growth recession’ is still on the menu next year, BofA warns

Bank of America's chief economist Michael Gapen revised his recession forecast again this week, citing strength in the labor market—but he says a "growth recession" is still coming in 2024.

Fortune

Money, Money, Money: the singers lifting economies with their vocals

From Beyoncé to BTS, the star power of popular music artists is helping to revive pandemic-hit countries

The Guardian - UK

Youngsters reduced to ‘numbers on spreadsheet’, says childcare leader

The leader of the Early Years Alliance has accused the Government of prioritising the economy over quality care for children.

The Independent UK

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There has to be a better way to measure a recession

Did NZ really dip into recession this year? Not until unemployment starts to rise ... that's the measure that affects real people. Jonathan Milne reports.

Newsroom.co.nz

Nigeria lets market set currency exchange rate to stabilize economy, woo investors

Nigeria’s central bank has ended its distorted foreign exchange rate, a move the new government in Africa's biggest economy hopes will help woo investors and stabilize the local currency

The Independent UK

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

The Guardian - AU

What Options Volume for Sprouts Farmers Market (SFM) Might Be Saying About the Economy

Although Sprouts Farmers Market makes plenty of sense in this challenging economy, recent unusual options volume presents a nuanced angle for SFM stock.

Barchart

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Women can benefit in a big way from care services sector, says Smriti Irani

The G20 Summit should focus on developing a care economy and eliminate bias against women in technology and related sectors, said Smriti Irani, Union Minister for Women and Child Development

The Hindu

Immigration key to Australia avoiding a recession, unlike NZ

If Australia is lurching towards a recession like the one neighbouring New Zealand is now suffering, there were few signs of it on Thursday.

The New Daily

Edinburgh holiday flats 'contribute less to the economy than residential homes'

A report to the council found that Short Term Lets were not as valuable to the city as residential homes.

Edinburgh Live

Deutsche Bank puts U.S. recession chances near 100%—avoiding hard landing “unprecedented”

Output is expected to contract as early as October and continue shrinking during the all-important election year, making it the worst performing economy among G7 nations in 2024.

Fortune

The Fed grows confident its Goldilocks economy might come true

The U.S. may not have to sacrifice the economic gains achieved in the pandemic recovery.

Axios

New Zealand falls into recession as high interest rates bite

Gross domestic product fell by 0.1% in the March quarter, following a revised 0.7% fall in the previous quarter, Statistics New Zealand said

Evening Standard

The Fed has paused. How long will Europe's central bank keep raising rates in a shaky economy?

The U_S_ Federal Reserve has hit “pause.”

The Independent UK

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Tribune News Service

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…

The Guardian - UK

European Central Bank raises interest rates to fight inflation; Nationwide to lift fixed mortgage rates – as it happened

UK mortgage holders face worst squeeze since 1990s crash, while Europe’s central bank hikes borrowing costs to battle inflation

The Independent UK

New Zealand's economy dips into recession as higher interest rates bite

New figures show that New Zealand’s economy has dipped into recession as higher interest rates take their toll

The Independent UK

Stock market today: Asia shares mixed after Fed holds rates steady and hints of hikes ahead

Asian trading is mixed after the Federal Reserve held interest rates steady

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The Guardian - AU

Australia’s unemployment falls to 3.6% as the economy adds 76,000 jobs in May

Employers expand workforces even as growth slows, surprising economists

The New Daily

Unemployment rate falls to 3.6 per cent

The jobless rate has fallen back to 3.6 per cent after 76,000 jobs were added to the economy.

The Guardian - AU

New Zealand falls into recession, as impact of cyclones takes toll

As the economy shrinks by 0.1% in the March quarter, officials say the impacts of cyclones Hale and Gabrielle worsened the economic outlook

Bangkok Post

Whoever takes office will inherit a mess

The election result is clear and the MOU to form a 312-seat government in the 500-seat parliament is agreed. But who will lead Thailand and its economy for the next four years is unclear. Whether it will be a pro-equality government, pro-growth government, or even a pro-big-spending government remains in…

Fortune

Quiet quitting is a nearly $9 trillion suck on the global economy, Gallup estimates

Last year, quiet quitting became a big workplace trend—now we know what it's costing the global economy and it's big.

Chicago Sun-Times

Fed keeps rates unchanged for first time in 15 months as inflation slowly eases

The Federal Reserve’s move to leave its benchmark rate at about 5.1% suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.

Fortune

Corporate ‘greedflation’ could lead to a ‘deeper for longer’ recession, top investment bank strategist warns

Greedflation may force the Federal Reserve to keep interest rates “higher for longer” to fight inflation, pushing the economy into recession.

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