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The Latest Breaking News on State of the economy — temper the euphoria

Miles to go: On the state of the Indian economy

There is more to the prognosis of the state of the economy outlined by the Chief Economic Adviser

The Hindu

RBI holds rates, vows to keep price stability

The Reserve Bank on June 8 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50% and retained the GDP growth projection for current fiscal year at 6.5%, on the back of supportive domestic demand conditions.

The Hindu

World Bank offers dim outlook for the global economy in face of higher interest rates

The global economy is likely slowing sharply this year, hobbled by high interest rates, the repercussions of Russia’s invasion of Ukraine and the lingering effects of the coronavirus pandemic

The Independent UK

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Poorest countries are biggest losers from economic shocks, says World Bank

Combined impact of Covid crisis, Ukraine war and tough measures by central banks taking heavy toll

The Guardian - UK

India’s economy picks up speed amid global slowdown

With 6.1% growth, India remains one of the fastest growing emerging economies, especially as China’s recovery stumbles.

Al Jazeera

Data | Exports and imports shrink across many nations for most items in 2023

India’s exports and imports further weakened in April, 2023, in continuation of the declining trend that has been observed since June, 2022.

The Hindu

Indian economy to surpass 7 per cent growth in FY 23: SBI research report

The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India. Read further on Dynamite News

Dynamite News

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Indian economy to surpass 7% growth in FY 23: SBI research report

NEW DELHI: The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India.

The Times of India

India poised for world-beating growth, CEA Anantha Nageswaran says

NEW DELHI: India’s strong credit demand and softening crude oil prices could buoy the economy, putting the South Asian country on course for a 6.5% expansion this fiscal year, according to a top adviser to the finance ministry.

The Times of India

India's forex reserves at comfortable position to meet any requirements: Piyush Goyal

India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and Industry Minister Piyush Goyal said on May 24.

The Hindu

Degrowth isn't the same as a recession – it's an alternative to growing the economy forever

The UK economy unexpectedly shrank by 0.3% in March, according to the Office of National Statistics. And though the country is likely to narrowly avoid an official recession in 2023, just as it did the previous year, the economy is projected to hit the worst growth rates since the Great…

The Conversation

2 China Stocks Worth Investors' Attention

As China shifts gears from reopening to a phase of economic growth, the world's second-largest economy's long-term prospects look promising. Hence, fundamentally robust stocks, Sunlands Technology (STG) and Tarena International (TEDU), which are primed for growth, could be worth investors’ attention now. Keep reading….

StockNews.com

Inflation rate to halve, bringing wage growth by 2024, federal budget predicts – with hope of mortgage relief

Australia’s economy remains resilient as global growth slows to its worst performance in more than two decades

The Guardian - AU

'New Welfarism' becoming India's soothing balm

During the height of the Covid-19 pandemic, many Indian economists and commentators believed the economy would skyrocket as soon as life returned to normal. But, despite the country's robust recovery in the two years since the pandemic's peak, the predicted boom has not materialised, nor does it seem imminent.

Bangkok Post

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The Independent UK

IMF slashes cash-strapped Pakistan's growth outlook to 0.5%

The International Monetary Fund has slashed the growth outlook for cash-strapped Pakistan, forecasting the South Asian country’s fragile economy will grow just 0.5% this year, down from 6% in 2022

The Guardian - AU

IMF expects Australia’s economy to slow amid ‘perilous’ international pressures

International Monetary Fund forecast echoes predictions from Treasury and RBA and warns ‘ominous forces’ may be behind global economic strains

Asharq Al-Awsat

IMF Issues Growth Warning as it Lowers 2023 Forecast

The International Monetary Fund slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic worries and geopolitical tension. Concerns over high inflation, rising geopolitical tension and financial stability all hang over the updated forecasts, with the impact…

The Independent UK

IMF: Prolonged high inflation dims outlook for world economy

The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks

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AAP

Gloomy global economy forecasted ahead of budget

Treasurer Jim Chalmers is warning of economic uncertainty with spiking global inflation and interest rates spurred by war in Ukraine ahead of the May budget.

AAP

Regulator backs local banks to ride out global storm

Financial regulators confirm the resilience of Australia's banking system following rigorous oversight during the past fortnight.

The Times of India

India emerged stronger from pandemic years, says RBI report

NEW DELHI: Even as global growth is set to slow down or even enter a recession in 2023, as global financial markets wager, India has emerged from the pandemic years stronger than initially thought, with a steady gathering of momentum since the second quarter of the current financial year, as…

Reuters

Sri Lanka's national consumer price inflation at 53.6% in Feb

Sri Lanka's National Consumer Price Index (NCPI) rose 53.6% in February on the year, after a rise of 53.2% in January, the statistics department of the debt-stricken country said on Tuesday.

Asharq Al-Awsat

OECD Hikes Global Growth Forecast for 2023, 2024

The global economic outlook has improved from a few months ago as the inflation shock eases but rising interest rates will keep risks high, the OECD said on Friday, hiking its growth forecasts for major economies. After growth last year of 3.2%, the world economy is on course to expand…

Caixin Global

NPC Preview: Supporting Growth as the Top Priority

We expect the meeting to set the GDP growth target at ‘around 5%’ with supportive macro policies, including a higher headline fiscal deficit, small increase of new special local government bond quota and more property policy easing, the bank’s chief China economist Wang Tao says

The Conversation

Inflation still the 'defining challenge' as Australia's economic activity slows

Australia has recovered better than most from the COVID pandemic. As measured by gross domestic product (GDP), the economy is now 7% larger than it was before the pandemic.

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