Page 4 - Recession

Firms expect layoffs, cut down in expansions in 2023 amid recession fears

A survey of national economists found that more businesses now expect job reductions at their firms and to spend less on expansions for the first time since the pandemic, a sign that the Federal Reserve's push to raise interest rates is doing its job to slow the economy. But the survey shows that business owners are still concerned that the Fed's decision-making could push too hard on the economy and potentially put the US into a recession this year. The January survey by the National Association for Business Economics found that its respondents put on average a reading of -7 on how much they plan to hire at their firms, down from previous reading of +8 in October, when NABE did its previous survey. However, due to inflation, the survey shows that businesses still expect to pay higher wages for the workers they are holding onto. The results of the January 2023 NABE Business Conditions Survey indicate widespread concern about entering a recession this year, said NABE President Julia

Belying slowdown fears, Indian economy's animal spirits move to the right

Prices of finished products rose as firms passed on higher input costs and business expenses

Wall Street opens lower; US may be heading for a painful recession

Futures for the Dow Jones Industrial Average and the S&P 500 slid 0.8% before the opening bell

Inflation eases slightly to 10.5% in Dec: UK national statistics office

The annual inflation rate for transport was 6.9 per cent in December, down for a sixth consecutive month, and the main driver behind the easing came from motor fuels, the ONS said

India's capex spending likely to slow on lower tax haul, global recession

Analysts say that as recessionary woes spread globally, India's tax collections and asset sales are likely to fall.

What are PM, FM hiding: Cong leader Jairam on Rane's 'recession' remark

What are Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman hiding from the country, Congress leader Jairam Ramesh asked on Tuesday after Union minister Narayan Rane's remarks indicating that India may face an economic slowdown after June. The minister for Micro, Small and Medium Enterprises (MSME) told reporters in Pune in Monday that if India faces an economic recession, it will happen only after June, but the Centre was making all efforts to avoid such a situation. He said developed countries were already facing an economic downturn. "Narayan Rane, Union Cabinet Minister of MSMEs - that have been destroyed since 2014 - forecasts recession in India after 6 months. He said this in Pune to a G20 gathering. What are the PM & FM hiding from the country?" Ramesh asked on Twitter. Rane's comments came after inaugurating the G20's 1st Infrastructure Working Group (IWG). India currently holds the presidency of the G20 grouping. "As I am in the Cabinet, some information

Recession likely this year; India may benefit from global trends: WEF

A third of respondents consider a global recession to be unlikely this year

US interest rate-cut expectations have yellow metal shining bright

Mild recession, low inflationary pressures in the US and a stronger rupee would act as headwinds

Amid mass job cuts, Amazon HR staff turn from hiring to seeking jobs

Some Amazon.com Inc. employees are publicly posting that they are #OpenToWork on LinkedIn while still employed by the company

A matter of governance: When independent directors call it quits midway

Most independent directors who quit do not explain why they are leaving before the end of their terms

Global PC demand down amid recession fears, steepest decline since mid-90s

For the entire year, PC shipments reached 286.2 million units in 2022, a 16.2 per cent decrease from 2021

Indian economy to grow at a robust 6.6% in FY24, says World Bank

'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession

World Bank cuts 2023 economic growth forecasts, warns of global recession

Spillovers from a period of pronounced weakness in the US, China and the European Union are exacerbating other headwinds faced by poorer nations

Meta now 'rescinds' full-time employment offers amid recession fears

In October this year, recruiters made it clear to candidates worried about their Meta offers that these are safe, according to Orosz

Global economy may be entering a difficult era and economists are worried

The warnings of longer-term trouble come as investors are growing somewhat more hopeful of the Federal Reserve's ability to rein in sky-high inflation without causing a recession

Indian startups brace themselves for deepening funding winter in 2023

Indian startups, which saw a massive 35 per cent drop in funding in 2022 -- from $37.2 bn in 2021 to $24.7-- are bracing themselves for a deepening funding winter in 2023 as recession fears loom

IMF bullish on Indian economy despite signals of global downturn

IMF has shown optimism about the Indian economy, suggesting that real GDP is expected to grow at 6.8 per cent in the current fiscal while in 2023-24 it is estimated to grow at 6.1 per cent

US hiring stays brisk as employers add 223,000 jobs in Dec: Labor dept

America's employers added a solid 223,000 jobs in December, evidence that the economy remains healthy yet also a sign that the Federal Reserve may have to raise interest rates more aggressively to slow growth and cool inflation. The December job growth, though a decent gain, amounted to the lowest monthly increase in two years. The unemployment rate remained fell to 3.5%, matching a 53-year low, the Labor Department said Friday. Last month's job growth capped a second straight year of robust hiring during which the nation regained all 22 million jobs it lost to the COVID-19 pandemic. Yet the rapid hiring and the hefty pay raises that accompanied it likely contributed to a spike in prices that catapulted inflation to its highest level in 40 years. The picture for 2023 is much cloudier. Many economists foresee a recession in the second half of the year, a consequence of the Fed's succession of sharp rate hikes. The central bank's officials have projected that those increases will

Software company Pegasystems to lay off 4% workforce amid recession fears

Software company Pegasystems is laying off 4 per cent of its over 6,000-strong workforce, as recession fears loom in 2023

Recession will hit a third of world this year, warns IMF chief Georgieva

A third of the global economy will be in recession this year, the IMF chief has said, and warned that 2023 will be "tougher" than last year as the US, EU and China will see their economies slow down. Kristalina Georgieva, the chief of the International Monetary Fund (IMF) made these grim assertions on Sunday during a CBS news programme "Face the Nation." It comes at a time when the ongoing conflict in Ukraine shows no signs of abating after more than 10 months, with spiralling inflation, higher interest rates and the surge in coronavirus infections in China fuelled by the Omicron variant. "We expect one-third of the world economy to be in recession," Georgieva said on the news programme. The year 2023 will be tougher than last year because the economies of the US, the EU and China will slow down, she said. "Even in countries that are not in recession, it would feel like a recession for hundreds of millions of people," she explained. In October last year, the IMF trimmed its growt