UK recession is over... already!

The U.K. economy has recovered from its ‘technical’ recession, with the gross domestic product (GDP) increasing by 0.6% in the first quarter, surpassing expectations. Official figures released on Friday revealed this growth, which exceeded the 0.4% predicted by economists surveyed by Reuters for the previous quarter. In the latter halfRead More →

Oil

The International Monetary Fund calculates that Russia’s economy will expand more rapidly than all advanced economies this year. According to the latest World Economic Outlook released by the IMF, Russia’s economy is projected to expand by 3.2% in 2024. This growth outpaces the anticipated growth rates for the U.S. atRead More →

On a quarter-by-quarter basis, China’s GDP grew 1.6% in the first quarter, compared to analysts’ expectations of around expectations of 1.4%. Beijing’s growth target for 2024 is around 5%. China’s growth was driven in part by external demand, as export volume grew by 14% year on year. Industrial output forRead More →

Not working

More than a fifth of working-age adults in the UK are currently not actively seeking employment, according to recent figures. The economic inactivity rate during the period from November 2023 to January 2024 stood at 21.8%, a slight increase compared to the previous year. This means that approximately 9.2 million people aged between 16 and 64 are neither employed nor activelyRead More →

Japan GDP

According to the revised official data, the Japan’s gross domestic product (GDP) grew by 0.4% in the fourth quarter of 2023 compared to the same period in the previous year. According to this revision, the economy avoided a technical recession, which is usually defined as two successive quarters of negativeRead More →

U.S. interest rates

In his Capitol Hill testimony on 6th March 2024, Federal Reserve Chairman Jerome Powell reiterated that was not yet time to begin cutting interest rates. To fight inflation, which reached a rate of 9% in the summer of 2022, the central bank has significantly increased interest rates in recent times. However, prices are still stubborn, especiallyRead More →

U.S. debt pile

The U.S. national debt has been growing more quickly in recent months, increasing about $1 trillion nearly every 100 days. U.S. debt permanently crossed over $34 trillion on 4th January 2024 according to data from the U.S. Department of the Treasury. It reached $33 trillion on 15th September 2023, and $32 trillionRead More →

Stubborn inflation

Is progress on U.S. inflation stalling? That’s the fear spreading through Wall Street as another inflation reading on Friday 16th February 2024 came in hotter-than-expected.   The producer price index rose 0.3% in January 2024. The largest increase since August 2024 and higher than the 0.1% forecast. Excluding food andRead More →

UK inflation statistics

The UK’s inflation rate remained at 4% in January 2024, despite the first monthly fall in food prices in two years, ONS figures show. January U.K. inflation held steady at 4% year-on-year benefitting from easing prices for furniture and household goods, food and non-alcoholic beverages. According to the latest figuresRead More →

U.S. workers

Job creation in the U.S. surged in January 2024, as the economy continued to defy predictions of a slowdown The U.S. economy added 353,000 jobs and average hourly pay jumped, while the unemployment rate held steady at 3.7%, the Labour Department said. The report extended more job gains that hasRead More →

Dow Jones Index

The Dow Jones Industrial Average (DJIA) hit a new all-time high, on 13th December 2023. It closed at 36799 surpassing its previous record of 36585points that it had set on 4th January 2022. This was the fourth consecutive record close for the index. Record high The Dow’s record high was driven primarily by theRead More →

Debt

A Downgrade Amidst Economic Slowdown In a significant development that has raised concerns among investors and policymakers worldwide, China’s debt outlook has been downgraded as the country grapples with a slowing economy. This move reflects growing apprehensions about the sustainability of China’s economic growth and its ability to manage itsRead More →

China factory output

China’s factory activity contracted for a second month in a row in November 2023. Non-manufacturing activity hit yet another new low this year, signalling that the world’s second-largest economy was still not out of the woods and may require more policy support. The official manufacturing purchasing managers’ index unexpectedly dropped slightlyRead More →

U.S. GDP revision

U.S. GDP figure better that forecast The U.S. economy grew even stronger than previously calculated in the third quarter, the result of better than expected business investment and stronger government spending, the Bureau of Economic Analysis reported  Wednesday 29th November 2023. Gross domestic product (GDP), a measure of all goodsRead More →