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The Latest Breaking News from Economy

Afternoon Update: economic growth stalls; eSafety commissioner drops X case; and News Corp ‘not obsessed’ with ABC

GDP growth falls to just 0.1% in the March quarter as high interest rates drag on economy

The Guardian - AU

7 graphs that show economic growth near zero as Australia waits for a budget boost

The Australian economy came close to a standstill in the first three months of this year. March-quarter economic growth sank to just 0.1%, meaning that, when adjusted for inflation, there was hardly any more income, spending or production than the quarter before.

The Conversation

Most Markets Rise On US Jobs Data But Fears Temper Optimism

Equities mostly rose Wednesday on building optimism that the Federal Reserve will cut interest rates before the end of the year after the latest batch of data indicated the long-resilient US jobs market was showing signs of easing.

International Business Times

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GDP growth falls to just 0.1% as household cutbacks put handbrake on Australia’s economy

Annual economic growth is down to 1.1%, lower than economists predicted, ABS GDP figures show

The Guardian - AU

Reserve Bank keeps options open on interest rates

Interest rates could go higher again if inflation proves stickier than expected or moves higher, the head of the Reserve Bank of Australia says.

AAP

Younger Australians feel like the game is rigged. And with the spending gap widening, who can blame them?

Older Australians are spending above the inflation rate, counteracting efforts to cool the economy and further disadvantaging younger generations

The Guardian - AU

Mexico's President-elect Moves To Reassure Nervous Investors

Mexican president-elect Claudia Sheinbaum's team reassured investors Tuesday that she would ensure the stability of Latin America's second-biggest economy, after her landslide election win rattled financial markets.

International Business Times

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India's election results show frustration over unequal economic growth

Indian shares plunged and the rupee tumbled after early results showed Prime Minister Narendra Modi's party winning far fewer seats than expected in the country's election, leaving it reliant on coalition partners. Billionaire Gautam Adani's business empire saw nearly $45 billion in its market value wiped off in a single…

France 24

JPMorgan’s Jamie Dimon is bracing for stagflation, but the economy could be headed for a 1950s-style boom instead

Fortune

Young voters’ top concern isn’t abortion—they care more about finding an affordable place to live, a new survey shows

The cost of starter homes has risen twice as fast as incomes, a Redfin economist said.

Fortune

Treasury official says budget assistance designed to help Ukraine anti-corruption efforts

Just back from a visit to Ukraine, a U.S. Treasury official is describing a country whose wartime economy has proven resilient in the face of Russia’s invasion, and he says U.S. and allied budget assistance is designed to help Ukraine combat corruption and increase transparency

The Independent UK

'Barely growing': economy limping as rate pain builds

The economy is still expanding - but only just - after households opened the purse strings for concerts and other one-off events in the March quarter.

AAP

Stocks Decline on Signs the Economy is Slowing

The S&P 500 Index ($SPX ) (SPY ) today is down -0.31%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.07%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.25%. Stocks today are moderately lower. Weakness in energy stocks weighs on the overall market,...

Barchart

Brazil Economy Picks Up As Shoppers Spend More

Brazil's economy grew 0.8 percent in the first quarter, the government said Tuesday, a rebound boosted by consumer spending which analysts say could put the central bank on guard over inflation.

International Business Times

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Motor1

10 Non-Hybrid Cars With the Best MPG for 2025

While a hybrid may be a better bet if fuel economy is your top concern, they still have notable upfront price premiums over their gas-only counterparts, often in the form of more expensive trims. Case in point: Nine out of the 10 cars on the list still have a base…

Axios

Biden warns China's economy is on the brink

"The idea that their economy is booming? Give me a break," Biden said.

The Conversation

Wisconsin is a key swing state this year – and has a history of being unpredictable

Voters in Wisconsin – now considered a critical swing state ahead of the 2024 presidential election – may be among the most unpredictable in the nation.

The Independent UK

Conservative party manifesto: What will be Rishi Sunak’s key policies for the general election?

A guide to all the manifesto promises we could expect to see from the Conservatives before July 4

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news in one place.

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The National (Scotland)

John Swinney and Anas Sarwar clash in TV debate over Labour's economy plans

JOHN Swinney told Anas Sarwar that the Labour Party will “prolong austerity” as the pair clashed in last night’s STV leadership debate.

The Guardian - UK

UK election debate: what are Sunak’s and Starmer’s attack lines likely to be?

The PM will try to move the focus off the Tories’ record while his opponent attacks them over the economy and the NHS

The Guardian - UK

Improving energy supply in Pakistan could save 175,000 lives, says Unicef

As a heatwave sweeps the country increasing demand for power, a new report says a more resilient network could also contribute $300m to the economy

International Business Times

Asian Markets In Reverse As US Data Spark Economy Worries

Asian markets fell Tuesday as traders were spooked by signs of weakness in the US economy, even as the data boosted hopes the Federal Reserve will cut interest rates this year.

Fortune

Should you invest in cheap Boeing stock?

In an industry as essential to the economy as aerospace, any bad patch can turn into an opportunity.

Axios

The great nonpartisan divide that's plaguing Americans

This divide has persisted for years since the pandemic.

Latin Times

Immigrants play a significant role in the development of Michigan's economy, study finds

Despite accounting for 7% of Michigan's population they make up nearly 9% of the state's total spending power

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