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The Latest Breaking News from Economic Growth

Reserve Bank wary of cautious consumers amid falling house prices, as global economy sours

The Reserve Bank slashes its forecasts for economic growth as rate rises, house price falls and a souring global economy weigh on Australia's outlook.

ABC News

Truss sets out plan to ‘unleash investment and boost economic growth’

Prime ministerial hopeful Liz Truss believes her economic plan ‘will put money back into the pockets of hard-working people’.

The Independent UK

The future of the Welsh town with the lowest economic growth in a decade

Llanelli has seen the lowest economic growth in Wales in the last decade and, while there are some good signs for the future, what that future should look like is still being decided

Birmingham Post

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Saudi Non-governmental Real Estate Investment Nearly Exceeds $68b

With the qualitative leap that Saudi Arabia has achieved at the global economic level, the real estate sector is expected to lead one of the engines of the country’s economic growth in the coming period, as private sector investments have exceeded 254 billion riyals ($67.7 billion), according to recent estimations.…

Asharq Al-Awsat

‘Liz Truss has the right plan that London businesses have been crying out for’

Liz Truss’s bold and ambitious economic plan is just the remedy that we need. She knows that we need to depart from the business-as-usual economic managerialism that has led to our sluggish economic growth.

Evening Standard

Saudi Arabia Posts Highest Economic Growth Since 2011

The Saudi General Authority for Statistics (GASTAT) revealed on Sunday that the Kingdom’s real gross domestic product (GDP) jumped by 11.8 % year-on-year (YoY) in the second quarter of 2022. The announcement countered International Monetary Fund projections that the economy will grow at 7.6% this year, the highest growth among…

Asharq Al-Awsat

CRC urges support for stimulus measures

The public and private sectors are being urged to support domestic consumption stimulus plans to boost economic growth, cash flow, and funding support for small and medium-sized enterprises (SMEs) in the retail and service industries.

Bangkok Post

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IMF warns of seven factors which leave global economy at risk of perfect storm

The International Monetary Fund has warned that seven factors are undermining growth expectations, suggesting that the worst-case scenario would cut global economic growth to 2 percent in 2023, the lowest level in over five decades.

Radio France Internationale

Strengthening liberal democracy is essential for growth: Raghuram Rajan

The under-performance of the country in terms of economic growth “seems to indicate the path we are going on needs rethinking”, said former RBI Governor Raghuram Rajan at the All India Professionals Congress conclave

The Hindu

China drops reference to economic growth target amid COVID fight

Ruling Communist Party drops previous calls to reach 5.5 percent growth this year.

Al Jazeera

After 2 Consecutive Quarters of Negative Economic Growth, Is America in a Recession?

Most Americans believe so.

Reason

Australia forecasts high inflation for another 2 years

New forecasts by Australia’s government say runaway inflation will remain unacceptably high for the next two years and economic growth will slow without falling into recession

The Independent UK

Green party urges Tory leadership rivals to commit to tougher climate goals

Liz Truss and Rishi Sunak must stop focusing on economic growth amid global heating crisis, warns co-leader Adrian Ramsay

The Guardian - UK

Bill Shorten says robodebt royal commission set to start this year – as it happened

This blog is now closed

The Guardian - AU

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The Independent UK

Report: Federal debt lower in 2022; still poised to climb

The Congressional Budget Office says the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast

The Guardian - AU

Jim Chalmers to cut economic growth estimates amid inflation ‘headwinds’

Treasurer will use state of the economy speech to trim 2021-22 growth to 3.75% and provide new inflation, wage and unemployment forecasts

The Conversation

Chalmers' economic statement to say inflation and global slowdown will slash Australia's growth

Headwinds buffeting the economy – notably high inflation and a global slowdown – have led to a significant downgrade of Australia’s economic growth forecasts, compared with the pre-election estimates.

Asharq Al-Awsat

IMF Raises Saudi Economic Growth Forecasts

The International Monetary Fund (IMF) has raised its 2023 growth forecasts for Saudi Arabia’s economy by 0.1% from April to 3.7%. It maintained its projections for the Kingdom’s economic growth during 2022 at 7.6% compared to 4.4% in January. This was revealed Tuesday in its World Economic Outlook report for…

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The Hindu

India tells United Nations it will make significant contributions to economic growth in Middle East and South Asia through I2U2

“We are confident that with I2U2, we will make significant contributions to energy security, food security and economic growth in the Middle East and South Asia,” Chargé d'affaires in India’s Permanent Mission to the UN Ambassador R. Ravindra said.

Bangkok Post

FPO maintains 2022 growth forecast at 3.5%

The Fiscal Policy Office (FPO) has kept its forecast for economic growth this year at an average of 3.5%, underpinned by a recovery in both the tourism sector and domestic consumption, according to the office's director-general Pornchai Thiraveja.

Reuters

Spain raises inflation forecast for 2022, lowers GDP growth target for 2023

Spain raised its inflation forecasts for 2022 and 2023 and lowered its economic growth target for 2023, Economy Minister Nadia Calvino said on Tuesday, citing the war in Ukraine for its continued negative impact on European economies.

The National (Scotland)

UK growth forecast downgraded AGAIN as IMF makes gloomy prediction

THE UK’s economic growth is slowing even more due to rampant inflation and it is set to be the weakest economy among the G7 nations next year, the…

Bangkok Post

Finance Ministry keeps 2022 growth outlook at 3.5%, sees 4% in 2023

The Finance Ministry on Tuesday said it sees economic growth of 4% next year, and maintained its 2022 growth forecast at 3.5%, underpinned by increased domestic consumption, tourism and exports, despite higher inflation.

Benzinga

Alibaba Surges 3.6% On Primary Hong Kong Listing Plan, Hang Seng Sees Trend-Reversal

Hong Kong’s benchmark Hang Seng Index opened in the green on Tuesday, flipping the trend from Monday, as better-than-expected economic growth data from South Korea offset mixed cues from Wall Street ov

Birmingham Post

IT firm wins number of contracts to develop network of 'smart towns' in Wales

Telemat IT Support will roll-out smart town technologies to boost economic growth post-pandemic

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