Q2 output also cut to 0.0% from 0.2% growth
Germany's economy is likely to shrink again slightly in the current fourth quarter, the country's central bank said Monday, while a survey showed business confidence retreating unexpectedly. Europe's biggest economy contracted by 0.1% in the third quarter after growing by the same amount in the previous three-month period, according to official figures. The Bundesbank said in its monthly report that real gross domestic product in Germany is likely to decline again slightly in the fourth quarter of 2023 as a result of weak performances in industry and construction Two consecutive quarters of contraction is a common definition of recession, though the economists on a panel that declares recessions in the eurozone use a broader set of data, including employment figures. Germany is the only major economy expected to shrink this year, according to the International Monetary Fund, which foresees a decline of 0.5%. The German government has forecast a decline of 0.4%. The economy has bee
In the month of September alone, Britain's economy grew by 0.2% from August when growth was revised down to 0.1% from 0.2%
By the end of August 2023, about 21,500 M&A deals had been announced, with a total value of $1.18 trillion. This represents a 14 per cent decrease in the number of deals
"Today when the world is facing challenges, looming economic recession, broken supply chains, food and energy insecurity this calls for closer cooperation with the SCO"
That strategy is now misfiring once again, saddling them with subpar returns and testing their resolve as the selloff deepens week after week
The sentiment index for the real estate sector remained positive during the April-June period with an improvement from previous quarter while the outlook for the next six months is also bullish, according to Knight Frank India and NAREDCO survey. In its 37th edition of the Real Estate Sentiment Index Q2 2023 (April-June), real estate consultant Knight Frank and industry body NAREDCO said that the current sentiment score has scaled up from the previous quarter's 57 to 63, in the optimistic zone. "This is due to the continued resilience of the Indian economy amid a recessionary environment globally. The Current Sentiment Score signifies stakeholders' current outlook in comparison to the preceding six months," Knight Frank said. During Q2 2023, the Future Sentiment Score rose from 61 in Q1 of 2023 to 64 in the optimistic territory as India's macroeconomic indicators remained firm, despite headwinds on some parameters, the consultant said. The Real Estate Sentiment Index is based on a
Amidst the surprisingly strong market performance, investors are questioning the possibility of a recession in the US, but history suggests caution is still warranted
Threat of a global recession, economic crisis triggered by the Russia-Ukraine war and dip in the real GDP growth rate of countries like Singapore, the US and UK are some of the reasons for FDI decline in India in 2022-23, Parliament was informed on Friday. Foreign direct investment (FDI) into India declined 22 per cent to USD 46 billion in 2022-23, dragged by lower inflows in computer hardware and software, and automobile industry. Total FDI, which includes equity inflows, reinvested earnings and other capital, also declined 16 per cent to USD 70.97 billion in the last fiscal as against USD 84.83 billion in 2021-22. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Som Parkash said the major reasons for shortfall in FDI in 2022-23 include a tighter financial environment and a string of financial crises in global markets in general and developing markets in particular besides the economic crisis due to Russia-Ukraine conflict. "Post pandemic, countri
Strategists at the brokerage downgraded UK stocks on a lack of exposure to growth stocks and a stronger pound
The nation's 23 largest banks passed the Federal Reserve's so-called stress tests this year, a sign that the nation's banking system remains resilient despite the recent banking crisis that led to the failure of Silicon Valley Bank, Signature Bank and First Republic Bank. The Fed's report issued Wednesday did show some relative weakness among the midsize banks and "super regional" banks, with some getting a passing grade with a smaller cushion than usual. Those results could raise eyebrows among investors and policymakers. Fed policymakers also hinted that they could make the tests harder in future iterations, due to the banking crisis earlier this year. We should remain humble about how risks can arise and continue our work to ensure that banks are resilient to a range of economic scenarios, market shocks, and other stresses, said Michael Barr, the Fed's vice chair for supervision, in a statement. The stress tests have become an annual report card for the nation's financial system
Since the start of the year, buyout firms have been unable to secure cheap debt and have had to draw on their own funds, marking a departure from traditional leveraged buyouts
The UK has so far weathered the cost of living crisis without falling into recession
The People's Bank of China lowered the rate on its one-year loans
New Zealand's economy has dipped into recession as higher interest rates take their toll, new figures released Thursday show. Gross domestic product fell by 0.1 per cent in the March quarter, following a revised 0.7 per cent fall in the previous quarter, Statistics New Zealand said. That fulfils the nation's definition of a recession, which is at least two consecutive quarters of negative growth. The slowdown comes after New Zealand's central bank raised its benchmark interest rate 12 straight times to 5.5 per cent as it tries to tame inflation. The rate is at its highest level since 2008, making it more expensive for people to borrow money for homes, cars and other purchases. The Reserve Bank of New Zealand has indicated it doesn't plan to raise the rate any further for now and that its next move will be a cut. The downturn in growth was in line with economists' expectations, and the currency was little changed, with one New Zealand dollar trading at around 62 U.S. cents. Taken ov
The Commonwealth Bank of Australia on Friday downgraded its economic forecasts following a recent cash rate increase, saying the country has a 50 per cent chance of sliding into recession this year
Along with Germany, GDP also declined in Greece, Ireland, Lithuania, Malta, and the Netherlands
Out of the people who were aware of these tools, 26 per cent said these tools have the potential to replace human jobs
Is JioCinema ready for the big league? Will recession in Germany hit the Indian economy? Has the rally in Adani stocks run its course? What is heat dome? All answers here