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The Latest Breaking News from Economy

China's economic growth falls to 3% in 2022 but slowly reviving

The world's No.2 economy grew by 3% in 2022, less than half of the previous year's rate, official data showed Tuesday as China faced pressure from anti-virus controls and a real estate slump.

WEKU

Extreme storms and flood events cause damage worth billions to ports -- and they are most disruptive to small island developing states

Shipping ports are crucial for the global economy. They handle the majority of trade, are industrial and transportation hubs and provide employment. But ports, by their nature, are located in coastal areas or on large rivers and are exposed to natural hazards such as storms and floods as a result.

The Conversation

Asian shares slip as China says economy slowed further

Asian shares are mostly lower after China reported its economy expanded at a 3% pace last year, less than half 2021's rate

The Independent UK

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China's economy grows at slowest pace in decades

BEIJING: China's economy grew last year at its slowest pace in four decades as it was hammered by Covid-19 lockdowns and a property crisis but the forecast-beating reading raised hopes for a strong recovery as it reopens.

Bangkok Post

China’s population starts shrinking, first drop since 1960s

China’s population started shrinking in 2022 for the first time in six decades, a milestone for the world’s second-largest economy, which is facing an increasingly serious demographic crisis.

Tribune News Service

China’s economy slows sharply with GDP growth among worst on record

The economy grew 3% in 2022, exceeding some forecasts, but still well below China’s official target for the year

The Guardian - AU

China’s economy grows 3%, among worst performances on record

Official figures reflect toll of Beijing’s since-abandoned ‘zero COVID’ pandemic strategy.

Al Jazeera

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China’s economy grew 3% last year, not even half 2021's rate

China’s economic growth fell to 3% last year under pressure from antivirus controls and a real estate slump but is gradually reviving after restrictions that kept millions of people at home were lifted

The Independent UK

'Stable' outlook despite climate spending

The outlook for state government coffers is stable as growth counters a slower global economy, but big spending on climate and net zero will bite into budgets.

AAP

Birmingham 2022 Festival 'added £100m to region's economy' - report

Newly published reports are out today into the economic and cultural impact of last year's companion arts festival to the 2022 Commonwealth Games

Birmingham Post

Nearly a quarter of UK chief executives admit business models will not be viable in a decade

Global executives offer gloomiest-ever outlook for global economy, PwC finds

The Independent UK

Survey: The US economy has a 64% chance of entering a recession this year

More likely than not, the U.S. economy will enter a recession this year, Bankrate’s Fourth-Quarter Economic Indicator poll found.

Tribune News Service

Study Envisages Connection between Innovation, Financing, Trade with Global Economy

Saudi researcher Dr. Raja Almarzoqi underscored the connection between innovation, international commerce movement, financing and economic growth that has become an enabler of global economy that crosses borders. He called for the adoption of government policies and legislations that would benefit further from the relationship between research, development of innovation…

Asharq Al-Awsat

Ramaphosa cancels Davos trip amid South Africa energy crisis

Africa’s most industrialised economy being hit by daily power cuts as anger grows among opposition and public

The Guardian - UK

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StockNews.com

3 Large-Cap Stocks to Add to Your Buy List This Winter

Despite inflation cooling further in December, the likelihood of the economy entering a recession this year is rising as the Fed expects to continue increasing interest rates until inflation comes down to its 2% target. Therefore, large-cap stocks Microsoft (MSFT), UnitedHealth (UNH), and Taiwan Semiconductor (TSM) could be stable investments…

Wales Online

Independent and Labour councillors in Merthyr Tydfil clash over funding settlement

The independent cabinet member said UK Government had thrown the economy off a cliff but that Welsh Government had turned its back on the Valleys but Labour councillors said the responsibility lies with UK Government

StockNews.com

The #1 Pharma Stock to Buy in January 2023

While the stock market and the economy have been subdued by progressive interest-rate increases, AbbVie Inc. (ABBV) has not only reported a robust third quarter but also demonstrated its confidence in its long-term prospects by raising its quarterly dividend. Read on….

The Guardian - UK

The case for a new Keynesianism when Labour returns to power

Letters: Carol Wilcox and Tony Brauer respond to an article by James Meadway of the Progressive Economy Forum

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Evening Standard

China’s re-opening after Covid could be very bad news for global inflation

I spent last week in Hong Kong and Singapore, singing for my supper. It was just ahead of Chinese New Year — the Year of the Rabbit begins on January 22 — and, in the past, both cities would have been heaving. On this occasion, however, only Singapore was. Hong…

The Independent UK

Asian shares mostly higher after gains on Wall Street

Shares are mostly higher in Asia after Wall Street benchmarks ended last week on a high note

Daily Mirror

'Senior Labour figures right to be haunted by fear of Conservative resurrection'

The economy crash, the NHS crisis, Covid and the invasion of Ukraine don’t explain why we’re doing worse than similar nations, so Rishi Sunak will struggle to escape the grave

The Independent UK

Signs that the UK economy could be recovering better than expected

Experts forecast falling energy costs and a halving of inflation lie ahead but warned some will still struggle

Bangkok Post

Evaluating the China effect

One-third of the world economy may slide into a recession this year, but the outlook for China remains more murky.

Tribune News Service

Russia’s tycoons fear tightening Kremlin squeeze as Putin’s war drags on

As Vladimir Putin pushes his war in Ukraine into its second year, the deepening militarization of Russia’s economy is fueling fears among the country’s business elite that the squeeze on their companies is only just beginning.

Reason

How the Fed Redistributed Wealth and Encouraged Reckless Corporate Behavior

The Lords of Easy Money argues that the Fed created an economy with nearly irresistible incentives for foolish choices.

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