The Chinese communist regime admitted on July 17 that the GDP growth rate in the second quarter of the year was lower than expected. Observers pointed out that China’s economy is actually in stagnation or even decline, as investment and demand both domestic and foreign continue to weaken, with domestic structural problems predicted to lead…
China’s Q2 GDP Growth Slows to 0.8 Percent as Economic Engines Stall
July 20, 2023
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‘Everything Points to Relatively Mild Recession’ in 2023: Bank of America CEO
April 19, 2023
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The chief executive of Bank of America (BofA) is expecting a recession to hit the United States this year, with GDP growth projected to fall for three consecutive quarters. U.S. GDP is estimated to contract by 0.5–1.0 percent for the upcoming three quarters before growth turns positive, BofA CEO Brian Moynihan said during the bank’s…
Tourism Breathes Life Into NZ Economy, Drives 2 Percent GDP Growth
New Zealand’s economy expanded two percent over the September quarter after borders opened and business normalised, Stats NZ revealed. The figure was more than double expectations, with markets predicting an average of a 0.9 percent growth and the Reserve Bank of New Zealand (RBNZ) forecasting 0.8 percent. This was driven by the services industry, which…
Florida’s Unemployment Rate Drops to ‘Another Historic Low’
PUNTA GORDA, Fla.–Florida’s unemployment rate continues to outpace the national averages, Gov. Ron DeSantis announced on Oct. 21, saying The Sunshine State has hit “another historic low,” despite the devastating impact of Hurricane Ian. DeSantis announced that the state’s September unemployment rate dropped to 2.5 percent. It is the second lowest rate in state recorded…
US Economic Growth Forecast Slashed as Inflation to ‘Remain at High Levels’: OECD
September 26, 2022
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The Organization for Economic Co-operation and Development (OECD) now expects the United States to grow slower this year and the next, according to its September economic outlook interim report. The United States is projected to grow by 1.5 percent in 2022—a full percentage-point decrease from the June estimate of 2.5 percent—and 0.5 percent in 2023,…
Vietnam’s Economy Grows as Businesses Exit China
September 5, 2022
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Vietnam reported positive production and operating data through July with Moody’s Analytics raising its forecast of the country’s GDP growth to 8.5 percent, making it its highest growth projection in Asia-Pacific. This comes as China to the nearby north has been showing further signs of an economic downturn. Despite a slowdown in Vietnam’s exports in…
China’s GDP Growth May Fall Below 3 Percent Amid Severe Drought, Power Crunch: Economist
September 1, 2022
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A power crunch and record heatwaves in China have disrupted factories, offices, farmlands, and many of the cities’ essential functions. Some subway stations are reportedly dimmed, with little to no lighting. Dan Wang, chief economist of Hang Seng Bank (China) told CNBC that the power crisis and droughts would likely cause China’s GDP growth to…
More Government Focus on Fostering Business Sector Would Spur Canada’s Sluggish Economic Growth: Economist
Canada’s competitiveness and economic growth are being hampered by restrictive policies and the government’s disinterest in fostering the wealth-producing business sector, an economist says. “There’s an increasing feeling in this country that something has gone wrong with our economy, and in particular our business sector, that we’re just not as competitive on the world stage…
This Time Is Not Different: More Debt, Less Growth
Commentary I remember that in 2009, three phrases were constantly repeated: “In this crisis measures are different, because governments are investing in the recovery by increasing public spending,” “the funds from the stimulus will strengthen the recovery,” and “central banks help a stronger recovery by lowering rates and increasing liquidity.” Then, 2010 arrived and the…
US Third-Quarter GDP Growth Revised Slightly Higher; Momentum Waning
December 22, 2020
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WASHINGTON—The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief, the government confirmed on Dec. 22, but appears to have lost momentum as the year draws to an end amid raging new COVID-19 cases and dwindling fiscal stimulus. The economy plunged into recession in…
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