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The Latest Breaking News from GDP

As US Economy Weathers Inflation, GDP Growth Turns Negative: Are We Headed For A Recession?

For the first time since the start of the COVID-19 pandemic in 2020, the Bureau of Economic Analysis has reported a decrease in real gross domestic product –— GDP.

Benzinga

Why U.S. Stocks Are Trading Higher, GDP Report And More

U.S. stocks traded higher this morning, with the Dow Jones gaining around 180 points on Wednesday.

Benzinga

U.S. Stock Futures Edge Higher; GDP Report In Focus

Pre-open movers

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

Wednesday briefing: Defence secretary Ben Wallace goes on the warpath over military spending

In today’s newsletter: As Boris Johnson, armed forces leaders and Wallace give mixed signals on military spending plans, Archie Bland tries to make the numbers add up

The Guardian - UK

Boris Johnson tells Nato leaders they must ‘dig deep’ on defence spending as threats grow

Boris Johnson has urged Nato allies to “dig deep” and spend more on defence, warning that threats to the West over the next decade are set to grow.

Evening Standard

Boris Johnson seeks to defuse row over abandoning defence spending pledge

PM insists manifesto promise of above-inflation increase will be kept despite Downing Street ‘reality check’ briefing

The Guardian - UK

Boris Johnson poised to ditch key UK defence spending promise despite Russia's war

The Prime Minister will trumpet Britain's 2% of GDP spending on defence - but another part of his policy, to raise spending above inflation, could soon be scrapped. It came as Boris Johnson insisted "I don't think" Britain will end up at war with Russia

Daily Mirror

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Ben Wallace ‘wants defence budget lifted to 2.5% of GDP by 2028’

Defence secretary’s leaked letter to PM warns of shortfalls in military personnel and long-range rocket artillery

The Guardian - UK

Wallace calls for 20% hike in defence spending – reports

A defence source did not deny reports that the Defence Secretary asked the PM to lift the annual military budget to 2.5% of GDP by 2028.

The Independent UK

Beyond GDP: Jim Chalmers' historic moment to build a well-being economy for Australia

Australia’s new federal treasurer, Jim Chalmers, spoke regularly in opposition about a well-being budget and the need to measure more than just the traditional economic indicators.

The Conversation

Ukraine war: all eyes on Lithuania as sanctions close Russian land access to Kaliningrad

Tensions between Russia and Nato, already stretched considerably by the invasion of Ukraine, have ratcheted up even further over Kaliningrad, a small piece of Russian territory sandwiched between Poland and Lithuania on the Baltic coast and cut off from mainland Russia.

The Conversation

Lithuania president eyes hike in defence spending to host more NATO troops

Lithuania must raise defence spending to 3% of GDP to enable it to host a much larger number of NATO troops, its president said ahead of NATO summit that will address how to counter rising security threats posed by Russia's invasion of Ukraine.

Reuters

Xi Jinping To Take 'More Forceful Measures' To Achieve 2022 Economic Growth Targets

Chinese President Xi Jinping on Wednesday made a rare statement that his country aims to achieve its economic goals for the year, despite analysts trimming the GDP growth target for the country.

Benzinga

IMF: Overall Saudi GDP Projected to Grow 7.6%

The International Monetary Fund (IMF) has highlighted solid indicators for the Saudi economy, expecting a 7.6 percent overall GDP growth in 2022. Non-oil growth will increase to 4.2 percent in 2022, with the current account surplus will increase to 17.4 percent of GDP in 2022, said the Fund experts. An…

Asharq Al-Awsat

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Bangkok Post

Fitch keeps Thai credit rating BBB+

Fitch Ratings has affirmed Thailand's credit rating at "BBB+" with a stable outlook, which is acceptable to the government, says government spokesman Thanakorn Wangboonkongchana.

Bangkok Post

Let's count what really adds up to national wealth

Despite well-known problems with using gross domestic product (GDP) as an indicator of human development, policymakers around the world still seem obsessed with it.

The Independent UK

Architect of Boris Johnson’s EU withdrawal deal to declare ‘Brexit is working’

‘No cause for regrets’: Lord Frost defends Brexit despite forecasts it will cost UK workers £470 a year in lost pay and cut GDP by 4 per cent

The Conversation

Triple punch of shocks threatens to upend debt sustainability and recovery in Africa

Food and fuel price increases and the aftermath of the COVID pandemic are really just the start of the story when it comes to fiscal shocks which have exacerbated government debt vulnerabilities in Africa.

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The Hindu

India reports CAD of 1.2% of GDP in FY22 on widening trade deficit: RBI

For the January-March 2022 quarter, the CAD narrowed on a sequential basis to $13.4 billion against $22.2 billion or 2.6% of GDP in the December 2021 quarter

Newsroom.co.nz

Do we need to fear another recession?

It came as a surprise to economists, but GDP fell 0.2 percent in the March quarter - is New Zealand in for another recession?

Caixin Global

Fisher: Chinese Stocks Will Rebound With or Without More Stimulus

China’s economy doesn’t need that much help, as Covid reopenings will do the job of lifting the country out of its temporary stagnation

The Times of India

Adverse global events may lead to $100 billion portfolio outflows, says RBI article

MUMBAI: Portfolio flows in India are the most sensitive to shifts in risk sentiment globally and in an adverse scenario, potential portfolio outflows can average up to 3.2 per cent of GDP or $100 billion (Rs 7.8 lakh crore) in a year, an RBI article said.

The Times of India

India faces near-term challenges; better placed to deal with them: Finance ministry report

NEW DELHI: India is facing near-term challenges in managing its fiscal deficit, sustaining economic growth, reining in inflation and containing the current account deficit but the country is relatively better placed to weather these headwinds compared to other nations, the finance ministry said in its monthly economic report.

The News Lens

Taiwan’s Lost Growth (Part 2): How Stagnant Wages are Throttling the Economy

Taiwan has one of the lowest GDP growths since 1995 among emerging economies. This is not going to change if wages don’t grow.

Bangkok Post

Weak baht helps some sectors

The weaker baht is expected to boost the Thai economy and increase real GDP by 0.4%, but not all manufacturers will reap the benefits, says the Industry Ministry.

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