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The Latest Breaking News from GDP

Increase in Tariffs Would Trigger Global Economic Decline, Study Finds

A new IMF study finds that a global increase in tariffs could decrease global GDP by nearly 1 percent by 2025 and over 1 percent by 2026.

Reason

Palestine’s economy teeters on the brink after a year of war and unrelenting destruction

The Palestinian economy has been devastated beyond recognition. Israel’s intense military operations in Gaza have led to unprecedented destruction, wiping out much of the enclave’s essential infrastructure, private property and agricultural resources.

The Conversation

UK loses out on £19bn in annual GDP growth due to lack of social mobility

Co-op/Demos report details how people from lower socioeconomic backgrounds are far less likely to earn good incomes

The Guardian - UK

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Trump Tariff Plan: Which States Would Be Hit the Hardest?

Donald Trump's tariff policy would substantially increase prices in as many as 20 states.

Kiplinger

GDP is an outdated way of measuring the health of the economy – it doesn’t reflect the health of people or the planet

Economics and economic policy need a rethink. This is clear from the scale of inequality, joblessness, insecurity and environmental disasters we see in the world.

The Conversation

Lithuanian election winner promises to bolster defence to counter Russia threat

Social Democrat leader says spending should be no less than party’s election manifesto pledge of 3.5% of GDP

The Guardian - UK

Stocks Set to Open Higher as Investors Await Key U.S. Economic Data and Big Tech Earnings

December S&P 500 E-Mini futures (ESZ24) are up +0.37%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.48% this morning as investors looked ahead to earnings reports from some of the biggest tech heavyweights as well as key economic data, including a payrolls report, the Fed’s favorite inflation gauge,…

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Stocks Set to Open Sharply Higher as Investors Await Key U.S. Economic Data and Big Tech Earnings

December S&P 500 E-Mini futures (ESZ24) are up +0.61%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.70% this morning as investors looked ahead to earnings reports from some of the biggest tech heavyweights as well as key economic data, including a payrolls report, the Fed’s favorite inflation gauge,…

Barchart

Key Earnings, GDP and Other Can't Miss Items this Week

The earnings releases are stacked deep this week with Apple, Amazon, Microsoft, Meta and AMD all reporting.

Barchart

Kemi Badenoch storming towards victory against Robert Jenrick in race to be next Tory leader, new survey

A survey of party members suggested Kemi Badenoch had maintained her lead over Mr Jenrick.

Evening Standard

Jenrick says Nato countries should raise defence spending to 3% of GDP

Robert Jenrick also said the West should reduce its dependency on China and prepare for China to invade Taiwan ‘within three years’.

Evening Standard

South Africa’s massive Sasol petrochemical plant faces serious challenges – new report

The giant Secunda complex of Sasol, South Africa’s biggest chemicals and energy company, provides the fundamental ingredients to South Africa’s petrochemical sector. It produces petrochemicals, plastics, chemicals essential to key industries such as agriculture (fertilisers) and mining (explosives), and 30% of the country’s liquid fuels. These value chains are very…

The Conversation

A UN report says it could take 350 years for Gaza to rebuild if it remains under a blockade

U.N. agencies have long warned that it could take decades to rebuild Gaza after Israel’s offensive against Hamas

The Independent UK

‘Utter ruin’: Gaza economy would take 350 years to return to pre-conflict level, UN says

Report says ‘intense military operations in Gaza have left unprecedented humanitarian, environmental and social catastrophe’

The Guardian - UK

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The Conversation

How finance can be part of the solution to the world’s biodiversity crisis

More than half of the world’s total GDP is at least moderately dependent on nature. Yet arguably, there is no economy (or life) without nature. A quarter of animal and planet species are now threatened, and 14 out of 18 key ecosystem services – including fertile soils to grow food,…

Evening Standard

UK borrowing surges past official forecasts ahead of Budget

The ONS said public sector net borrowing in the first half of the financial year stood at £79.6 billion, £6.7 billion higher than forecast by the OBR.

Fortune

China stocks move up on GDP growth surprise as US stocks flirt with record highs

US markets continue to flirt with record highs.

International Business Times

Global Public Debt To Surpass $100 Trillion in 2024: IMF

Amid spending pressures and slow development, the International Monetary Fund warns of a growing global debt crisis, projecting $100 trillion in debt by 2024 and 93% of GDP by 2030.

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The Conversation

How to make sure the budget secures the investment Britain needs

Prime Minister Keir Starmer has promised to “rip out the bureaucracy that blocks investment” in the UK. He was speaking at his government’s first international investment summit, an attempt to encourage the finance and business worlds to put more money into the country.

Fortune

Europe’s population crisis could shave 4% off its GDP by 2040: Morgan Stanley

Europe is unlikely to find a solution to an aging population hammering the region’s economy.

France 24

Fitch agency maintains France's 'AA-' credit rating but downgrades outlook

Fitch Ratings revised France's long-term outlook to "negative" on Friday while keeping its rating at AA-. The company cited increased fiscal policy risks, with government debt moving toward 118.5 percent of GDP by 2028.

France 24

French public debt reaches record high: Is France the sick man of Europe?

France's debt has reached a record €3.228 trillion, amounting to 112 percent of GDP. That is well above the cap set by EU rules. Of course, France isn't the only member state to have racked up debt during the Covid pandemic and the energy crisis. Several countries have been reprimanded…

The Guardian - UK

‘Sigh of relief’ for Labour as UK economy returns to growth; BlackRock hits $11.5tn of assets – as it happened

UK GDP rose by 0.2% in August, reports Office for National Statistics, with accountancy, retail and many manufacturers having strong months

France 24

French PM to present 2025 budget to cabinet with financial markets in mind

France's Prime Minister Michel Barnier will hold a cabinet meeting this Thursday where he'll unveil his budget plan for 2025. His bid to reduce the deficit from 6.1 percent of GDP will be looked at closely on international bond markets and by the country's disparate political forces. Also in this…