Page 5 - Latest Updates on Recession
Global economic uncertainties may cast shadow on India's exports in 2023
India's exports may have touched an all-time high of USD 422 bn in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth
 "Global economic uncertainties may cast shadow on India's exports in 2023")
US equity futures falter, a rare December negative for S&P500
As bellwether stocks, Nike and Fedex promise healthy estimates; Micron dampens holiday spirit
 "US equity futures falter, a rare December negative for S&P500")
India to face export shocks from global recession: BFSI economists' panel
While two of the eminent panelists - Ghosh and Nayar - said they expect a pause in the monetary cycle by the MPC, Chakraborty, Sagar, and Kapoor said the MPC could still hike by 25-50 basis points
 "India to face export shocks from global recession: BFSI economists' panel")
FPIs pull out a record Rs 1.22 trn from Indian market so far this year
Turn net sellers after 3 years; rising rates, recession fears to blame; Sensex still up 4.8% YTD
 "FPIs pull out a record Rs 1.22 trn from Indian market so far this year")
India can't afford yet more disruptions to supply chains: Ficci President
'What is most unfortunate is that countries are looking to finance their transition to a green economy by taxing others'
 "India can't afford yet more disruptions to supply chains: Ficci President")
Sustained recession in West, new Covid wave casts a shadow on Budget 2023
India a bright spot but strong headwinds may impact projections, officials say
 "Sustained recession in West, new Covid wave casts a shadow on Budget 2023")
BS BFSI Insight Summit 2022: Leading economists to discuss recession fears
From Aditi Nayar the Chief Economist at ICRA to Mridul Saggar, professor of practice, IIM Kozhikode; formerly MPC Member and RBI ED, here is the full list of economists on BFSI panel
 "BS BFSI Insight Summit 2022: Leading economists to discuss recession fears")
Finnish economy to fall into mild recession in 2023, says central bank
A surge in the cost of living, and the energy crisis exacerbated by the conflict in Ukraine, have accelerated a looming recession, the bank said
 "Finnish economy to fall into mild recession in 2023, says central bank")
Markets extend losses amid recession fears, indices dip second week on trot
Commentary by central banks on their resolve to tame inflation rattles investors, who were hoping that interest rates have peaked
 "Markets extend losses amid recession fears, indices dip second week on trot")
G20 meet: Infra to sustainable finance, global headwinds take centre stage
The ministry and the Reserve Bank of India (RBI) are jointly co-hosting the FCBD meeting
 "G20 meet: Infra to sustainable finance, global headwinds take centre stage")
UK's economy rebounds by 0.5% in Oct but recession fears still loom
The British economy is estimated to have grown by 0.5 per cent between September and October, statistics showed, but a lengthy recession is still expected in the UK
 "UK's economy rebounds by 0.5% in Oct but recession fears still loom")
Signs of global slowdown: Export credit demand shrinks 25% YoY in October
The data released by the Reserve Bank of India (RBI) showed a fall in export credit even though the bank credit saw a robust growth of 18 per cent
 "Signs of global slowdown: Export credit demand shrinks 25% YoY in October")
World debt-GDP ratio plummets, but over pre-Covid level, says IMF
Total debt fell to 247 per cent of global gross domestic product last year, IMF data showed. That's 10 percentage points less than in 2020, but is still the second-highest reading in history
 "World debt-GDP ratio plummets, but over pre-Covid level, says IMF")
UK braces for 2 yrs of recession as manufacturing sector shrinks by over 4%
The UK's manufacturing sector shrank by more than 4% this year, a survey found, with predictions of another sharp decline in 2023
Next US Federal Reserve rate hike will amplify recession: Elon Musk
"If the Fed raises rates again next week, the recession will be greatly amplified," he said in a tweet
 "Next US Federal Reserve rate hike will amplify recession: Elon Musk")
HCL Tech management cautious on revenue growth in FY23; stock plunges 6%
At its investor meeting held in New York on December 8, the management said the revenue growth guidance for FY23 is likely to come in at the lower end of its 13.5-14.5 per cent
 "HCL Tech management cautious on revenue growth in FY23; stock plunges 6%")
US dollar struggles as recession worries simmer, bets on slower rate hike
The yuan hovered near an almost three-month high after China revealed a loosening of stifling COVID restrictions
 "US dollar struggles as recession worries simmer, bets on slower rate hike")
Are the markets fully pricing in recession fears?
Business Standard's Puneet Wadhwa spoke to Jitendra Gohil, Director, Global Investment Management, Wealth Management, India at Credit Suisse on how the markets may play out over the next few months
 "Are the markets fully pricing in recession fears?")
Placement offers at IITs in 2023 may not be as high as last year: Report
The highest packages at IITs for this year may come for domestic roles, unlike last year when international roles offered the highest salaries
 "Placement offers at IITs in 2023 may not be as high as last year: Report")
Top Headlines: India-UAE trade deal; crude import basket at 10-month low
The price of the Indian basket of crude oil has hit a 10-month low of $88.6 a barrel in November, government data showed
 "Top Headlines: India-UAE trade deal; crude import basket at 10-month low")
