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The Latest Breaking News from GDP

UK economy grows more slowly than expected amid cost of living crisis

GDP rises by 0.2% in July as worker shortages and inflation weigh on activity

The Guardian - UK

UK ‘still at risk of recession’ despite July rebound; markets lifted by Ukraine’s advances – business live

UK economy expanded by 0.2% in July, less than hoped, with growth driven by customer-facing services such as the sports and recreation sector

The Guardian - UK

One year on, El Salvador's Bitcoin experiment has proven a spectacular failure

A year ago, El Salvador became the first country to make Bitcoin legal tender – alongside the US dollar, which the Central American country adopted in 2001 to replace its own currency, the colón.

The Conversation

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Fragile state of UK economy scrutinised as nation mourns

GDP, inflation and retail sales figures due to be released over next few days

The Guardian - UK

World Bank: Truce Agreement, Transfer of Power are 'Glimmers of Hope' for Yemen

The World Bank commended the recent developments in Yemen, describing them as "glimmers of hope" provided by the UN-sponsored truce agreement, the transfer of power, and the $3.3 billion Saudi and Emirati financing package. However, the World Bank said in a recent study that despite these encouraging developments, achieving a…

Asharq Al-Awsat

India’s updated Nationally Determined Contribution to combat climate change

The updated NDC is a step towards India’s goal to reach net-zero emissions by 2070.

The Hindu

ASX soars 1.8pc as RBA hints at softening interest hike stance

Canada has become one of the first major markets to start easing off on rate hikes. Now comments by the Reserve Bank's governor hint that Australia may too ease off on aggressive cash rate rises.

ABC News

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Australians are spending hard, despite real wages falling. It’s a fragile situation

The GDP recovery looks strong, but it’s largely driven by households dipping into savings. Meanwhile, company profits are exploding

The Guardian - AU

Putin says Russia will post budget surplus this year, GDP to decline 'around 2%'

Russia will post a budget surplus this year, President Vladimir Putin said on Wednesday, forecasting a much shallower economic contraction than previously thought as Russia has overcome the worst impact of Western sanctions.

Reuters

Saudi GDP up 12.2% in Second Quarter, Exceeding Initial Estimate

Saudi Arabia's real gross domestic product expanded by 12.2% in the second quarter compared with the same period of 2021, data showed on Wednesday, as the world's top oil exporter reaps the rewards of high crude prices and a post-pandemic recovery. The second quarter growth figure exceeded a flash government…

Asharq Al-Awsat

Australia's June quarter national accounts show GDP doing well - for now

Tuesday’s national accounts show Australia ending 2021-22 on a strong note.

The Conversation

Australian economy holds firm in June quarter driven by export boom

National accounts figures show GDP expanded by 3.6% compared with a year earlier as households drew down on savings to keep spending

The Guardian - AU

Jim Chalmers warns GDP figures don't 'tell the full story about our economy' — as it happened

Treasurer Jim Chalmers said while the latest economic growth figures are "solid", they don't show the increasing financial pressures facing Australians. Look back on Wednesday's updates.

ABC News

Economists predict slowdown for Australian economy as interest rates continue to rise

Soaring commodity exports and positive agricultural forecast expected to be balanced by Reserve Bank’s moves to counter inflation

The Guardian - AU

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The Hindu

India’s current account deficit to widen to 5% in Q2, 3.5% in FY23: ICRA

The trade deficit has doubled to $28.7 billion for August due to a 36.8% expansion in imports and a 1.2% decline in export earnings.

Bangkok Post

Wage hikes make little impact: expert

Minimum wage rises have failed to keep up with GDP growth with workers on the lowest rung in society receiving only a 15-baht hike in the daily wage in the last 10 years, according to a Thammasat University economist.

The Hindu

Funding public education

The idea that higher education could be funded fully by students or their parents is grossly misplaced

The Times of India

In charts: India likely to overtake Japan as third-largest economy by 2029

NEW DELHI: With India surpassing the United Kingdom (UK) to become the world's fifth largest economy, a report by the State Bank of India (SBI) suggests that the country will outstrip two other major economies to become the third-largest economy by 2029.

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Bangkok Post

Some Economists Rethink When, if Ever, China Will Pass U.S. in GDP

The sharp slowdown in China's growth in the past year is prompting many experts to reconsider when China will surpass the U.S. as the world's largest economy -- or even if it ever will.

The Hindu

India overtakes U.K. to become fifth largest economy in the world

With India being the world's fastest growing major economy, its lead over the U.K. will widen in the next few years

Tribune News Service

Commentary: Could a return of the lost workers avert a recession?

There’s not much good to say about the U.S. economy today, with out-of-control inflation eroding household incomes and Americans bracing for a recession after gross domestic output shrunk in the first half of 2022.

Newslaundry

‘Fantastic number’: TV anchors miss the nuance in 13.5% GDP growth

The Indian economy grew by 13.5 percent in the April-June quarter of 2022, according to data released by the National Statistical Office on Wednesday. This figure may sound impressive, especially given the dismal numbers over the past two years, but there is more than meets the eye.

The Times of India

Sensex falls 770 points; Nifty settles at 17,543: Top reasons behind today's plunge

NEW DELHI: Equity indices plunged on Thursday with the benchmark BSE sensex falling over 750 points amid weak sentiments from both domestic as well as global markets.

Asharq Al-Awsat

Türkiye’s Economy Grows 7.6% in Q2 2022

Türkiye’s economy grew 7.6% year-on-year in Q2 2022 as expected, extending a hot streak on strong domestic demand and exports, according to new data on Wednesday. Gross domestic product (GDP) expanded 2.1% compared with the previous quarter on a seasonally and calendar-adjusted basis, Turkish Statistical Institute (TurkStat) data showed. A…

The Conversation

The cost of living crisis has been many years in the making – but politicians on both sides ignore this

Fears over the cost of living have reached new highs in the UK after power regulator Ofgem confirmed that the energy price cap will nearly double from October to cost the average household £3,549 a year. There has been much discussion about what the government needs to do to help…

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