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The Latest Breaking News from GDP

Pound hits 15-month high as UK GDP shrinks in May; sickness threat to economy – business live

UK GDP report for May shows that factory output and construction shrank during the month, with some blaming extra bank holiday

The Guardian - UK

‘Cause for concern but not panic’ — UK economy shrinks by 0.1% in May as bank holidays hit GDP

The extra bank holiday in May for the King’s coronation played a part in the decline

Evening Standard

UK economy shrinks by 0.1% in May after coronation festivities

GDP fell month on month after growth of 0.2% in April, reports ONS

The Guardian - UK

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Six killed in Kenya at anti-tax hike protests

In tonight's edition: Kenya warns demonstrators that they'll be met with a short fuse from authorities as at least six people are killed in clashes with police during banned anti-tax rallies. Also, the mystery of a possibly missing migrant boat deepens as Senegal denies the claims of a Spanish NGO…

France 24

Volatile politics set to hit economy

Kasikorn Research Center (K-Research) expects the domestic political situation to be a key factor affecting the Thai economy in the second half of this year.

Bangkok Post

TAT upbeat on obtaining full budget in 2024

The Tourism Authority of Thailand (TAT) hopes its proposed budget for fiscal 2024 will not be cut as it attempts to drive a full recovery, generating 3 trillion baht in tourism income and increasing the GDP contribution to 25% by 2027.

Bangkok Post

After being a 'welcome guest' at NATO, NZ now needs to consider what our partnership with the alliance really means

As a “welcomed guest” at the latest NATO summit in Lithuania, New Zealand Prime Minister Chris Hipkins had a front-row seat for debates over Ukrainian membership, the role of countries outside NATO’s traditional geographic boundaries, the ongoing threat of China, military spending and an accelerating nuclear arms race.

The Conversation

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Truss’s taskforce claims average Briton £10,000 worse off than US counterpart

The Growth Commission launched on Wednesday, suggested ‘consistent growth levels’ of 3% by 2040 are achievable.

The Independent UK

‌Bank Of Israel Maintains Steady Interest Rate As Inflation Shows Signs Of Moderation‌

‌Research Department at the Bank of Israel predicts 3% growth in GDP in 2023 and 2024 with delayed impact from monetary restrain‌

Zenger

NATO Summit: How the Alliance is strengthening its eastern flank

Along with seeking a compromise for Ukraine’s entry into NATO, leaders at the Vilnius summit are on a quest to bolster the Alliance’s eastern front.

France 24

At Vilnius summit, NATO members to pledge minimum defence spending of 2% of GDP

NATO's 31 members are meeting in Lithuania's capital for a summit where they will discuss a new financial commitment to the Alliance. On Friday, Secretary General Jens Stoltenberg said member states will "invest a minimum of 2 percent of GDP annually on defence". In this segment, we see that so…

France 24

AI’s disruptive economic impact, an India check

Artificial Intelligence could be highly disruptive, but growing advancements in AI are now a reality and being equipped with the latest tools will be an advantage

The Hindu

Krungsri hosts Japan-ASEAN Startup Business Matching Fair 2023

In Thai national economy, there are more than 3 million micro, small, and medium-sized enterprises. They account for approximately 35 percent of the country’s GDP and above 70 percent of employment. Both the government and private sectors have been supporting startup and small business development for many years, while also…

Bangkok Post

3 things that could still go wrong for the U.S. economy, Bank of America’s chief economist says

Despite recent bullish economic data, Michael Gapen says he still expects a “mild recession” by the start of 2024.

Fortune

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The Hindu

Fisheries sector is key for growth of country’s GDP, says Union Minister

Union Minister for Earth Sciences Kiren Rijiju said that the fisheries and aquaculture sector is going to play a key role in the growth of the country’s Gross Domestic Product (

The Guardian - UK

Missions v priorities: how Starmer’s policy goals compare with Sunak’s

As the Labour leader completes his key pledges, we compare them with the prime minister’s – and assess how firm they are

Kiplinger

Risk of Fall Government Shutdown: Kiplinger Economic Forecasts

The latest Congress stalemate risks a government shutdown in October 2023, spending cuts and a dent in GDP growth.

Fortune

The strategist who called a recession after the regional banking crisis says it already happened and nobody noticed

The catch is it's global. The heated debate about a U.S. recession is a moot point. The much bigger story is that a typical world recession has likely already started."

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StockNews.com

3 China Stocks Smart Money Is Following

While worldwide counterparts saw weaker growth due to inflation and rising interest rates, China’s GDP soared in the first quarter of 2023. With the nation’s upward momentum expected to persist, it could be wise to load up on robust China stocks X Financial (XYF), China Automotive (CAAS), and Sunlands Technology…

The Hindu

A macro view of the fiscal health of States

A time path for revenue deficit reduction with a credible fiscal adjustment plan would help restore fiscal balance and improve quality of expenditure

The National (Scotland)

Why it's time for Scotland to switch to the wellbeing economy

Thomas Bertram Lance, adviser to Jimmy Carter in the 1970s, coined a famous phrase: “If it ain't broke, don't fix it”.

Tribune News Service

Conor Sen: Squeezed homebuyers are just what the economy needed

The housing market is full of surprises. Sentiment among homebuilders has been perking up, their stocks are surging, and new home sales are at the strongest since early 2022. All in the face of persistently high mortgage rates.

Fortune

China's Gen Z graduates fear they have 'blank paper' diplomas as youth unemployment hits a record 20% and the economy chokes on anemic growth

Millions of fresh college graduates and early career professionals in China face daunting prospects amid a cooling economy.

The Guardian - UK

Eurozone inflation drops; UK recession fears linger; Apple hits $3trn valuation – as it happened

Eurozone price pressures have eased, although core inflation has risen, as economists warn UK recession risk has not vanished

Barchart

Dollar Rallies on Sharp Rise in T-note Yields

The dollar index (DXY00 ) Thursday rallied by +0.41% on the sharp +13 bp rise in the U.S. T-note yield to 3.83% s on the hawkish Powell comments, which substantially improved the dollar’s interest rate differentials. The dollar also received a boost from the upward revision in U.S. Q1 GDP...

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