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The Latest Breaking News from GDP

Trump’s mass deportation plan could hurt the country more than the Great Recession, report says

Mass deportations could lead to a 7.4 percent drop in the GDP, meaning ‘the U.S. economy would not grow at all’ during President Trump’s second term, the report says

The Independent UK

Starmer urges allies to double down on Ukraine support as Estonia suggests security tax

Just hours before the start of a key European defence summit, Estonia’s defence minister issued a stark warning that spending 2 per cent of GDP on defence is simply not enough

The Independent UK

FOMC, GDP and Other Can't Miss Items This Week

The market continues to navigate the final trading weeks of 2024, with investors closely watching economic indicators and the Fed's potential signals about monetary policy.

Barchart

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Britain is failing to prepare itself for war with Russia, top general warns

In a dramatic intervention, Richard Shirreff says Britain must ‘fight a second cold war to avoid a third world war’

The Independent UK

Trump's Mass Deportation Plan Threatens US Economy With 7.4% GDP Loss: Report

The report estimated deporting 8.3 million undocumented immigrants could cut the GDP by 7.4% and reduce employment by 7% by 2028.

Latin Times

UK economy shrinks for second month in a row

THE UK economy unexpectedly contracted in October, marking two months in a row of negative growth for the first time since the pandemic, new…

The National (Scotland)

Reeves accused by Tories of ‘crashing the economy’ as output shrinks - live updates

Most economists had been expecting GDP to rise during October but it shrunk 0.1% for the second month running

The Independent UK

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Labour reels from shock 0.1% fall in GDP in October

Rachel Reeves admits that the fall in output in the same month as the Budget is “disappointing”

Evening Standard

FTSE 100 Live 13 December: GDP shows surprise fall, Royal Mail fined £10.5m

Another dip in UK output today added pressure on the Bank of England to consider a back-to-back cut in interest rates.

Evening Standard

UK’s economy shrinks unexpectedly by 0.1% in October

GDP figures underline scale of challenge for Labour to get the economy growing

The Guardian - UK

Financial Advisor Charles Wareham On Skyrocketing US Debt, Rising Taxes And What To Do With America's Retirement Plan

With a debt-to-GDP ratio of 122.84% and a recent hike in its interest expenses— now costing $1.133 trillion due to inflation and rising interest rates, the USA is spending 17% of its federal budget just to maintain its debt.

International Business Times

It’s not bigotry to worry about migration – the latest figures tell a complex story

Large parts of Britain would not function without migrants, but there are consequences for housing, GDP and productivity, says Guardian columnist Larry Elliott

The Guardian - UK

Newspoll returns to a tie after Coalition leads, but Labor has worst result this term in Resolve

A national Newspoll, conducted December 2–6 from a sample of 1,258, had a 50–50 tie, a one-point gain for Labor since the previous Newspoll in early November. Primary votes were 39% Coalition (down one), 33% Labor (steady), 11% Greens (steady), 7% One Nation (up two) and 10% for all Others…

The Conversation

Fact check: Living standards pledge, National Insurance and plane crash image

Round up of fact checks from the last week compiled by Full Fact.

The Independent UK

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Top News

NATO Urges European Allies To Increase Defense Spending

NATO calls for increased defense spending in response to Russian threats and U.S. pressure to ensure regional peace and stability.

The Guardian - AU

What do the latest GDP figures tell us? That the RBA is still getting it very wrong

It’s time the reserve started undoing the damage it’s done before even public spending can’t keep the economy growing

Evening Standard

UK interest rates to fall more slowly than expected after Budget – OECD

The global economics body also increased its GDP forecast for next year on the back of higher public spending from the Budget.

The Conversation

Australians still feeling pain in the hip-pocket but there are positive signs of growth ahead

Australia’s economic growth remains in the slow lane, at only 0.3% for the September quarter, keeping Australia close to recession territory.

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The Guardian - AU

Interest rate cut hopes rise and Australian dollar slumps after GDP expands by a weak 0.3%

Per capita GDP continued to decline for seventh consecutive quarter as population grew, ABS data shows

Benzinga

Poland's GDP Set for Growth in 2025 as EU's Fastest Economy

Poland’s GDP is set to expand further in 2025, cementing its position as the European Union’s (EU) fastest-growing economy.

Benzinga

Trump's Tariff Plan Risks Economic Pain For North America, Goldman Sachs Warns

Goldman Sachs warns that Trump's proposed 25% tariffs on Canada and Mexico could cause economic turmoil, with GDP shrinkage and inflation.

Latin Times

Venezuela's 'Pearl Of The Caribbean' Loses Its Luster

An 80-percent drop in GDP over a decade of increasingly repressive rule by strongman President Nicolas Maduro between 2013 and 2023 pushed more than seven million Venezuelans -- almost a quarter of the population -- to seek a better life elsewhere.

Evening Standard

Truong My Lan: Death sentence upheld for Vietnamese property tycoon over massive fraud

Truong My Lan had been convicted in April of embezzlement and bribery over the fraud amounting to 12.5 billion dollars, nearly 3% of Vietnam's 2022 GDP

Evening Standard

Why Trump's tariffs may not end up so bad for the UK after all

While the threatened tariffs may mean the US buys fewer UK goods, it may also mean the US buys more UK services.

The Conversation

In a sluggish Europe, Poland stands out and is aiming to become a key player

With its strong economic growth for a western country, added to its desire to play a greater military role within NATO, Poland is poised to become a key player in Europe.

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