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The Latest Breaking News from Economy

UK’s economy flatlined in February as teachers’ strikes drag on growth

Analysts expected GDP to grow by 0.1 per cent in February

The Independent UK

Strikes drag UK economic growth to a standstill; mortgage defaults rising as households struggle – as it happened

Latest GDP report shows that civil service and teachers’ strikes held back service sector growth, leading to no growth in February

The Guardian - UK

Australia’s resources minister heaps warm praise on gas as industry PR spree masks doubts about future

Madeleine King says gas can help decarbonise the economy but not even big users of the fossil fuel are convinced

The Guardian - AU

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Unemployment rate sticks at 3.5 per cent

New labour market data shows the jobless rate holding at 3.5 per cent, with 53,000 jobs added to the economy.

The New Daily

Australia must navigate 'choppy waters' amid gloomy global economic outlook, says Jim Chalmers

Jim Chalmers says his budget will be built on the expectation that the economy will "slow considerably" but Australia is "better placed than most to deal with this global uncertainty".

ABC News

New hydrogen pumps hundreds of billions into economy

Australia is poised to become a green energy superpower, hosting about 40 per cent of globally announced new hydrogen projects, worth up to $300 billion.

AAP

'Build back better' requires a framework that focuses on the full life of a house – from materials to its end of life

In the wake of Cyclone Gabrielle, New Zealand is again talking about “building back better”. But how do we build back better when we don’t necessarily understand what “better” means? Or how to achieve this across a country with significantly different risk profiles?

The Conversation

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Jobless rate to stay low despite looming economic woes

Workers are still in short supply and the labour market is unlikely to reveal signs of loosening as the effects of inflation work through the economy.

The New Daily

BoT to aid new government on economic policies

The Bank of Thailand (BoT) will work with the new government on coordinating fiscal and monetary policies to boost the economy after the Finance Ministry and central bank reduced economic stimulus measures amid signs of recovery.

Bangkok Post

Why Tunisia's president is cracking down on political opponents, singling out black Africans and undocumented migrants

Tunisia's revolution was the spark that ignited the Arab Spring. But 10 years on, its economy is failing and observers say an increasingly authoritarian government is using black Africans as scapegoats, inciting a wave of racially motivated violence and rhetoric.

ABC News

Economic minister eager to see ChatGPT used for Diet replies

Economy, Trade and Industry Minister Yasutoshi Nishimura said on Tuesday ChatGPT could be used for the preparation of answers to Diet questions, if concerns are resolved. His remark will likely arouse controversy, given the number of issues surrounding this conversational AI model, such as the possibility of copyright infringement.

The Japan News/Yomiuri

EPA Report Shows Record-High Horsepower And Fuel Economy For New Vehicles

Real-world carbon dioxide emissions are also at record lows as the EPA eyes further reductions going forward.

Motor1

Federal Reserve staff projects "mild recession" after banking sector turmoil

Minutes from the Fed's last policy meeting offer more details on how officials weighed risks to the economy in the wake of the SVB collapse.

Axios

Bank turmoil led Fed officials to forecast fewer rate hikes

Turmoil in the banking system after two major banks collapsed led many Federal Reserve officials to envision fewer rate increases this year out of concern that banks will reduce their lending and weaken the economy

The Independent UK

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The Guardian - UK

The Guardian view on the world economy: another bleak era beckons

Editorial: The 2010s were a wasted decade for economies and the environment. The 20s have all the makings of a second

Kiplinger

March CPI Report: What the Experts Are Saying About Inflation

A mixed CPI report means investors can expect another rate hike from the Federal Reserve in May.

Liverpool Echo

Grand National 2022 contributed over £60m to local economy

A new report has assessed how important last year's festival was to the Liverpool City Region economy

PC Gamer

Total War: Warhammer 3 Forge of the Chaos Dwarfs is the fantasy gun-running simulator I never knew I needed

First, you get the very tall hats.

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The Independent UK

Why new grads shouldn’t fear a recession

Massive tech layoffs, bank failures and a potential U.S. recession could throw a wrench in the plans of 2023 graduates — in the same year federal student loan payments are expected to resume and accrue interest

Birmingham Post

Transport upgrades could generate £52bn productivity boost for the economy, suggests TUC plan

TUC regional secretary Liz Blackshaw says investment in the North East and elsewhere in England would help meet net zero targets, create jobs and boost productivity

The Times of India

US consumer inflation slows to 5% in March year-over-year

NEW YORK: US consumer inflation slowed in March, according to US data Wednesday, lessening the pressure on the Federal Reserve to maintain its aggressive posture to cool the economy.

The Independent UK

Inflation slows but stays high enough for Fed to hike again

U.S. consumer inflation eased in March, with less expensive gas and lower food prices providing some relief to households that have struggled under the weight of surging prices for nearly two years

The Conversation

Four reasons inflation will stay stubbornly high for some time

Price inflation is starting to fall in many countries but it still remains way above the typical 2% target of most major economies. In the UK, inflation has been above target since August 2021 and in double digits since August 2022.

The Independent UK

Kwasi Kwarteng ‘hasn’t ruled out’ return to cabinet despite crashing economy with mini-Budget

Former chancellor said it was a ‘great privilege’ to serve in government as he keeps the door open for a return

Asharq Al-Awsat

Saudi Arabia Tops G20 in Non-oil Private Sector PMI

Saudi Arabia topped the G20 countries in the performance of the purchasing managers’ index (PMI) for the non-oil private sector, in January 2023. The index recorded headline growth at 58.2 points, marking consecutive growth since September 2020 and reflecting the strength and durability of the Kingdom’s economy despite the state…

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