Wed, July 24, 2024

Economy

reserve bank of Australia

Australia’s GDP Growth: A 2023 Q4 Analysis

Quick Look GDP grows by 0.2% in December Quarter 2023, matching economists’ predictions. Annual Australia’s GDP Growth Rate hits 1.5%, aligning with expectations. Export growth and reduced imports boost the economy, while company stock reductions hinder. The household savings ratio rises after two years. Projections indicate a slowdown in GDP growth, with potential recovery by …

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Turkey, forex

Turkey’s Inflation Hits 67.07%, Lira Drops to 31.4205

Quick Look February’s annual inflation rate in Turkey soared to 67.07%, up from January’s 64.86%. The monthly Consumer Price Inflation (CPI) rose by 4.53% in February, surpassing expectations. Central Bank of Turkey ramped up interest rates by 3,650 basis points to 45% since June. The Turkish lira weakened further, trading at 31.4205 against the dollar …

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China

China’s Economy Hits 30-Year Low, Eyes 5% Growth

Quick Look China’s GDP growth has reached a 30-year low amidst a backdrop of declining birth rates and high youth unemployment. Despite challenges in the financial and property markets, sectors like tourism, electric vehicles, and solar panels show robust growth. The economy expanded by nearly 5% last year, driven by industries outside the troubled housing …

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European countries vs companies

€18B Boost Amid Bonds in France & Qatar Investment

Quick Look France announces a €8 billion ultralong bond issuance with a maturity date in May 2055, showcasing strong market confidence. Despite high investor demand, French consumer confidence dips further in February, reflecting ongoing economic concerns. Qatar pledges a substantial €10 billion investment in France’s economy, targeting key future-oriented sectors. In a remarkable show of …

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German bank and digital currency, germany

Germany’s DAX Nudges Up: A 0.02% Weekly Insight

Quick Look Germany’s DAX Index edges up by a mere 0.02% on Monday, hinting at market cautiousness. Key economic data releases slated for this week include inflation figures, economic sentiment indicators, and labour market information. Daiwa Capital Markets predicts a significant moderation in inflation rates across various sectors. Corporate developments see Global Telco AI Alliance’s …

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U.S. economy and Labor Department

Nikkei Peaks, CSI Gains Amid Global Economic Tensions

Quick Look Asia’s markets open with mixed expectations amid key economic data anticipation. Japan’s Nikkei 225 Index hits a historic peak, reflecting strong investor confidence. China’s CSI 300 Index extends gains, while South Korea’s Kospi faces setbacks. Global trade policies, including Trump’s tariff proposals, pose potential challenges. Upcoming trade meetings in Abu Dhabi to discuss …

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Joe Biden and his economic plan

U.S. Economy Grows: 2% GDP & Key Market Surges

Quick Look The S&P Global composite index indicates a slight economic expansion in February, with manufacturing output at a ten-month high. GDP growth is projected at 2% annually, signalling continued economic expansion. Fed officials highlight optimism and caution, pointing to geopolitical risks and inflation concerns. Mortgage rates have reached a new high since mid-December, potentially …

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EU and economy

Eurozone’s PMI at 48.9: Signs of Economic Resilience

Quick Look Eurozone’s composite PMI rose to 48.9 in February, hinting at a less severe economic downturn. France and Germany’s PMI figures reflect ongoing economic contractions, with France showing slight improvement. Manufacturing output continues to decline, while service sector inflation raises concerns. Germany faces a technical recession, with growth forecasts significantly cut. Upcoming economic data …

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Hong Kong and tech companies

Hong Kong’s $27M Investment Scheme Targets Global Wealth

Quick Look Hong Kong introduces a revised Capital Investment Entrant Scheme (CIES). It is targeting individuals, with a minimum investment threshold set at HK$27 million. The scheme aims to reinforce Hong Kong’s status as Asia’s leading financial hub. Leveraging the fast-growing wealth in the Greater Bay Area (GBA). Over 9,000 businesses with overseas/China parent companies …

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Russia

2.6% GDP Growth: Russia Defies Sanctions in 2024

Quick Look Russia’s GDP is on the way to grow by 2.6% in 2023, surpassing previous years’ forecasts. The defence and security budget in 2024 constitutes 40% of total expenditure amid rising inflation and labour shortages. Economic resilience is attributed to strategic preparation for financial sanctions and lucrative oil and gas earnings. Sanctions have led …

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China has set a growth target of more than 6% for 2021

China’s Economy Surges 5%: A Dragon’s Challenge Ahead

Quick Look China exceeded its modest growth target by over 5% last year. The crisis in the property market, subdued exports, and regulatory pressures on private sectors mark key challenges. Record withdrawals by international investors from Chinese stocks signal waning confidence. Deflation streaks and high debt-to-GDP ratios underline systemic economic pressures. Government strategies aim at …

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The U.S. current account deficit hit 14-year high in Q1

Divergent Global Recoveries: U.S. Thrives, Others Struggle

Quick Look Japan and the UK entered technical recessions with negative GDP growth for two consecutive quarters. Germany’s economy also reports consecutive quarterly declines in GDP. China’s economic slowdown, particularly in its property sectors, raises concerns. The U.S. economy showcases resilience with strong credit-driven consumption despite a decline in January retail sales. The global energy …

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Japan's Economy

Japan Slips to 4th in Global Economy, GDP Shrinks 0.4%

Quick Look Japan now ranks as the world’s fourth-largest economy, trailing behind Germany. The country’s GDP contracted in the last quarter of 2023, with an annual shrinkage of 0.4%. Economic growth slowed to 1.9% in 2023, with expectations of further deceleration to 0.5% in 2024. A weakening yen and decreased private consumption have significantly impacted …

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Global economy

5M Labour Boost & $7T GDP Surge: Immigration’s Impact

Quick Look A Senate deal to enhance border security and manage immigration faces obstacles from House Republicans. The Congressional Budget Office (CBO) forecasts a labour force boost of over 5 million from immigration over the next decade. Immigration might contribute nearly $7 trillion to the GDP and $1 trillion in federal revenue within the same …

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€145B EU Crisis Fund Ready Amid New Banking Risks

Quick Look The EU bank crisis fund has now reached its target of €78 billion, ceasing yearly bank contributions. Initially bolstered by €68 billion of public funds pending Italy’s approval, the total capacity hits €145 billion. Despite the fund’s growth, concerns linger over its adequacy for major bank crises. Therefore referencing past financial rescues like …

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