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The Latest Breaking News from GDP

Profits have driven inflation while wages lag behind, argue economists

Increasing profits going to corporate Australia account for more than two-thirds of the nation's inflation problem, according to new research from the Australia Institute.

ABC News

US revises down GDP for Q4 to 2.7%

The revised estimate marked a deceleration from the 3.2 percent growth rate from July through September.

Al Jazeera

Changing Thailand: a series (prologue)

Before I start talking economic jargon filled with figures, let me explain Thailand's economic situation in plain language.

Bangkok Post

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Growth headwinds mounting in Thailand

According to the latest data released by the National Economic and Social Development Council on Feb 17, Thailand's real GDP growth slowed significantly to 1.4% year-on-year in the fourth quarter of 2022 from 4.6% in the third quarter.

Bangkok Post

Economists: Tourism surge offsets export setback

The Thai economy is set to bounce back from a surprising contraction in the fourth quarter of 2022 as foreign tourist arrivals are likely to surprise on the upside and counter headwinds to merchandise exports from a global slowdown, say leading economists.

Bangkok Post

Has Russia's economy withstood Western sanctions?

Vladimir Putin claims the Russian economy has withstood Western sanctions, as he prepares to mark one year since the invasion of Ukraine. While Russia's GDP has contracted less than many analysts expected, Beata Javorcik of the EBRD explains that's largely the result of years of "sanctions-proofing", and doesn't mean that…

France 24

Asian shares slide, SET falls on weak GDP data

RECAP: Asian shares and currencies slipped on Friday as strong economic data from the US and hawkish Federal Reserve comments revived fears that the US central bank will stick to its path of interest rate increases to tame inflation.

Bangkok Post

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Russia stands by 2% of GDP budget deficit plan after huge Jan shortfall

Russia's finance ministry is sticking with plans to post a budget deficit of no more than 2% of gross domestic product (GDP) in 2023, despite towering spending and slumping energy revenues contributing to a huge shortfall in January.

Reuters

Q4 GDP growth slows, 2023 outlook trimmed

Thailand's economic growth slowed more than expected in the fourth quarter of 2022, as exports and manufacturing declined, but a rebound in the vital tourism sector should continue to boost the recovery this year amid weaker global demand.

Bangkok Post

3 Must-Buy Nasdaq Stocks for 2023

Consumers showing resiliency in the face of rising inflation have helped the U.S. GDP to come in better than expected in the last quarter. Moreover, hopes of the economy avoiding a deep recession this year are rising. The Nasdaq Composite began this year on a positive note. Hence, fundamentally strong…

StockNews.com

Earthquakes could trigger loss of up to 1% of Turkish GDP in 2023, says report

The February 6 earthquakes that killed more than 40,000 people in Turkey and Syria could result in a loss of up to 1% of the Turkish gross domestic product (GDP), said an economic report published on Thursday. It came amid uncertainties over a possible delay of general elections, set for…

France 24

NATO chief eyes bigger defense budgets, hard spending target

NATO Secretary-General Jens Stoltenberg is urging the 30 member countries to commit to spending at least 2% of their gross domestic product on their defense budgets by a set date

The Independent UK

German defence minister backs raising NATO spending goal

Germany's defence minister said he was in favour of raising NATO's military spending target, as allies gathered in Brussels on Wednesday for talks on whether defence expenditures of 2% of GDP are sufficient with a war raging in Ukraine.

Reuters

BoT wants to see household debt below 80% of GDP

The Bank of Thailand says it wants to see household debt levels below 80% of gross domestic product to help reduce economic and financial risks.

Bangkok Post

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The Guardian - UK

Brexit hit UK growth by £29bn, says Bank of England rate setter

Investment in the country since the referendum has ‘stopped in its tracks’, according to a study led by Jonathan Haskel

Bangkok Post

Tourism lifts retail growth projection to 6-8%

Thailand's retail industry is expected to grow by 6-8% this year, double the rate of the GDP, helped by the recovery of tourism, according to the Thai Retailers Association (TRA).

The Guardian - UK

Generations of Tories have hoped for growth. They never plan for it

Kept aloft by North Sea oil or privatisations, the economy under the Conservatives never got the long-term vision it needed

Fortune

Economics are a big factor in the U.S. migrant crisis. Here’s how immigration numbers and GDP compare in the Americas

In struggling countries in Latin America, economic breakdown often precedes an exodus.

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news in one place.

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The Guardian - UK

UK ‘not out of the woods yet’ after economy dodges recession by a whisker; Russia cuts oil output – as it happened

Latest GDP report shows that UK economy flatlined in final quarter of last year, while Russia is to cut oil production over Western price caps

The Guardian - UK

UK can expect year of stagnation after narrowest of escapes from recession

Marginal expansions and contractions in 2023 will do little to solve a lack of investment and export shortfall

The National (Scotland)

UK avoids recession by narrowest margin but 'not out of woods yet'

THE UK avoided a recession by the thinnest of margins after the economy flatlined in the last three months of 2022, new data shows.

Evening Standard

FTSE 100 Live: Recession avoided in 2022, Standard Chartered bid latest

The UK looks to have avoided recession in 2022 after estimates today showed GDP unchanged in the final quarter of the year.

Daily Mirror

UK narrowly avoids recession for second time in a year but set for one in 2023

The figures come amid predictions that about one in four will be "unable to meet in full their planned energy and food bills from their post-tax income" in the 2023-24 financial year

Birmingham Post

Welsh economy sees biggest contraction of any UK nation

The ONS has released latest GDP figures from the nations and regions of the UK

Tribune News Service

Michigan, Metro Detroit outpaced nation in economic recovery, report says

Michigan and Metro Detroit have outpaced the nation's economic recovery in the wake of COVID-19, according to the Detroit Regional Chamber's State of the Region report released Wednesday.

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Christian Schmollinger

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