U.S. Economy Grows 2.8% in Q2 2024, Exceeding Expectations
The U.S. economy showed impressive resilience with a 2.8% GDP growth in Q2 2024, surpassing expectations and driven by strong consumer spending and government expenditure. Despite challenges like rising imports and a declining personal savings rate, the positive economic indicators suggest a potential productivity boom and improved living standards. The Federal Reserve’s response to these developments will be crucial for future economic policy.
UK Economy Shows Signs of Improvement Amid Transition Period
The United Kingdom’s economy is on the path to recovery with improving consumer spending, declining inflation, and potential interest rate cuts by the Bank of England. Business surveys show growth resurgence, while reduced corporate insolvencies signal optimism for business investments. Despite resilient inflationary pressures, the gradual moderation of inflation is expected to lead to monetary policy relaxation in the near future.
IMF Commends Fiji’s Economic Rebound but Warns of Vulnerabilities
The International Monetary Fund commended Fiji for its economic rebound driven by tourism but warned of vulnerabilities. Directors stressed the need for sound macroeconomic management, fiscal consolidation, and addressing structural challenges. Authorities were praised for revenue-enhancing measures but urged to improve revenue mobilization, expenditure efficiency, and oversight of state-owned enterprises. The IMF recommended shifting monetary policy to a neutral stance and advised reversing pandemic-related exchange restrictions while enhancing financial sector oversight.
New Zealand slips into second recession in less than 18 months
New Zealand has slipped into its second recession in less than 18 months, with GDP shrinking by 0.1 percent in the October-December period. The recession is attributed to aggressive interest rate hikes and government policies, sparking political blame trading. The downturn raises concerns about the impact on the cost of living and economic growth.
UK News Digest: Recession, a Shabby State of Affairs – and a Wait After a Fall
UK Chancellor Rishi Sunak’s promises have largely failed to materialize, with the UK falling into a recession. Labour MP Rachel Reeves demands an explanation, but Sunak and his deputy are absent. Journalist John Crace shares a personal anecdote, and SNP and Conservative MPs walk out during a debate on Gaza, highlighting the challenges in UK politics.
Britain Enters Recession with Worst GDP Performance in Years
Britain has entered a recession with its worst GDP performance in years, as the economy contracted by 0.3% in the final three months of 2023. This news is a setback for Prime Minister Rishi Sunak and could impact the upcoming general election. Despite the recession, finance minister Jeremy Hunt remains optimistic about the economy’s future prospects.
Germany’s Economic Challenges and the Push for Innovation
Germany’s economy is facing challenges as it struggles to maintain its growth amidst various economic and structural issues. The country’s economy shrank by 0.3% last year, raising concerns about a potential recession in the coming months. The energy crisis, exacerbated…
Thailand’s 2023 Elections: Reformist Party Secures Most Seats, but Populist Party Forms Majority Government
In a surprising turn of events, the reformist Move Forward Party secured the most seats in Thailand’s 2023 elections, but it was the populist Pheu Thai Party that ultimately formed a majority government, overlooking the country’s stagnant economy. The new…
Upturn in Global Tech Cycle to Support Malaysia’s Export Expansion in 2024, Economists Say
Monday22 Jan 2024 HomeCorporateEconomyCourt & PoliticsSectionsEdgeTVTechOpinion新闻HomeCorporateEconomyCourt & PoliticsSectionsEdgeTVTechOpinion新闻HomeCorporateEconomyCourt & PoliticsSectionsEdgeTVTechOpinion新闻HomeUpturn in global tech cycle to support Malaysia’s export expansion in 2024, economists sayTechnologyMalaysiaEconomyTop StoriesEconomic FocusUpturn in global tech cycle to support Malaysia’s export expansion in 2024, economists sayBy Emir Zainul…