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World Economy

German industry grows in January but car output remains weak

German industry grows in January but car output remains weak

Fri, Mar 08, 2024

Industrial output in Germany, Europe's biggest economy, rose more than expected in January, raising hopes that the economy is finally bottoming out after a lengthy manufacturing recession.

German exports rise more than expected in January

German exports rise more than expected in January

Wed, Mar 06, 2024

German exports rose more than expected at the start of the year thanks to rising demand from EU countries and China, data from the federal statistics office showed.

Three years of Irish services growth slows to a trickle-PMI

Three years of Irish services growth slows to a trickle-PMI

Tue, Feb 06, 2024

The pace of expansion last month was the slowest since the post-pandemic bounceback began, driven by firms completing outstanding business and therefore seeing their volume of work-in-hand fall for the first time in three years.

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UK inflation falls by more than anticipated to 15-month low of 7.9%; may limit interest rate hikes

UK inflation falls by more than anticipated to 15-month low of 7.9%; may limit interest rate hikes

Wed, Jul 19, 2023

Inflation in the UK has fallen by more than anticipated to a 15-month low, official figures showed on Wednesday, a development that may ease the pressure on the Bank of England to raise interest rates sharply over the coming months, to the potential relief of struggling households.

21st century economic growth to be slower than thought

21st century economic growth to be slower than thought

Mon, Jun 26, 2023

Global future economic growth will be slower than predicted, with developing nations taking longer to close the wealth gap and approach the income of wealthier nations, a new study has predicted.

UK's stubborn inflation fails to fall as forecast in May

UK's stubborn inflation fails to fall as forecast in May

Wed, Jun 21, 2023

UK inflation data: British consumer price inflation defied expectations that it would slow and held at 8.7% in May, official figures showed on Wednesday, a day before the Bank of England is forecast to raise interest rates for the 13th time in a row.

BOJ maintains ultralow rates at policy meeting

BOJ maintains ultralow rates at policy meeting

Fri, Jun 16, 2023

BOJ interest rate decision 2023: The Bank of Japan maintained ultra-easy monetary policy on Friday despite stronger-than-expected inflation, signalling it will remain a dovish outlier among global central banks and focus on supporting a fragile economic recovery.

Japan's wholesale inflation eases, goods close to consumers continue to rise

Japan's wholesale inflation eases, goods close to consumers continue to rise

Mon, Jun 12, 2023

Japan wholesale inflation: Japan's wholesale inflation slowed for a fifth consecutive month in May because of sliding fuel and commodity prices, data showed on Monday, a sign cost-push pressure that has driven up consumer inflation may be subsiding.

China's consumer inflation picks up; factory gate deflation deepens in May

China's consumer inflation picks up; factory gate deflation deepens in May

Fri, Jun 09, 2023

China inflation rate: China's factory gate prices fell faster than expected in May, as faltering demand weighed on manufacturing, impeding the fragile economic recovery, while consumer inflation missed expectations.

US trade deficit widens to 6-month high, expected to dent economic growth

US trade deficit widens to 6-month high, expected to dent economic growth

Thu, Jun 08, 2023

US trade deficit: The U.S. trade deficit widened by the most in eight years in April as imports of goods rebounded while exports of energy products declined, a trend that if sustained, could result in trade being a drag on economic growth in the second quarter.

Lira plunges more than 7% as Turkey edges towards free market

Lira plunges more than 7% as Turkey edges towards free market

Thu, Jun 08, 2023

Turkish lira: Turkey's lira plunged 7.6% to a record low on Wednesday in its biggest selloff since the historic 2021 crash, and traders called it a "strong signal" that Ankara is moving away from state controls toward a freely traded currency.

China's exports tumble in May as global demand falters

China's exports tumble in May as global demand falters

Wed, Jun 07, 2023

China exports May 2023: China's exports shrank much faster than expected in May and imports fell, albeit at a slower pace, as manufacturers struggled to find demand abroad and domestic consumption remained sluggish.

World Bank cuts 2024 global growth forecast as rate hikes bite but lifts 2023 outlook

World Bank cuts 2024 global growth forecast as rate hikes bite but lifts 2023 outlook

Wed, Jun 07, 2023

World Bank global growth forecast 2023: The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year's results.

World Bank expects UAE's non-oil economy to grow by 4.8 pc in 2023

World Bank expects UAE's non-oil economy to grow by 4.8 pc in 2023

Wed, May 17, 2023

In a press conference held today in Dubai to announce the new World Bank Gulf Economic Update (GEU) titled, "The Health and Economic Burden of Non-Communicable Diseases in the GCC", the bank officials said that the current account balance in the UAE is expected to rise to 11.7 per cent in 2023

US Debt Ceiling: How US financial crisis could impact the world economy

US Debt Ceiling: How US financial crisis could impact the world economy

Thu, May 04, 2023

The US government could run out of cash to pay its bills as early as June 1, which could lead to a significant impact on the global economy. In this video, we explain how a US default could cause chaos in global financial markets and affect emerging nations like India.

Israeli PM, finance minister say economy "solid" despite Moody's outlook cut

Israeli PM, finance minister say economy "solid" despite Moody's outlook cut

Sun, Apr 16, 2023

Israeli Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich issued a joint statement, asserting that the country`s economy remains "solid," despite Moody`s recent downgrade of Israel`s credit outlook.

IMF head expects less than 3 per cent global economic growth in 2023

IMF head expects less than 3 per cent global economic growth in 2023

Thu, Apr 06, 2023

IMF chief said growth is expected to remain around 3 per cent for the next five years, calling it "our lowest medium-term growth forecast since 1990, and well below the average of 3.8 per cent from the past two decades."

India can become 3rd largest world economy by skilling youth, says PM

India can become 3rd largest world economy by skilling youth, says PM

Mon, Mar 06, 2023

"For the new opportunities being created in the country, we need to create skilled manpower on a large scale. India can achieve the target of becoming the third-largest economy only by skilling its youth," Modi said.

Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis

Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis

Sun, Jan 29, 2023

Pakistan Petrol-Diesel Price Hike: Pakistan's Finance Minister Ishaq Dar made the announcement in a televised address on Sunday morning. The new rates have come into effect from 11 am on January 29.

India a bright spot with estimated growth of 5.8% this year, 6.7% next year: UN economist

India a bright spot with estimated growth of 5.8% this year, 6.7% next year: UN economist

Thu, Jan 26, 2023

India GDP Growth Estimate: For the next year, the UN is projecting a growth rate of 6.7 per cent for India, according to the Chief of the Global Economic Monitoring Branch.

Global economy faces tougher year in 2023, says top IMF official

Global economy faces tougher year in 2023, says top IMF official

Mon, Jan 02, 2023

IMF Managing Director Kristalina Georgieva has said that the new year is going to be tougher than the year we leave behind.

Bank of England poised to slow pace of interest rate hikes

Bank of England poised to slow pace of interest rate hikes

Thu, Dec 15, 2022

Central banks worldwide have been battling to keep inflation under control, but Bank of England policymakers face extra pressure to strike the right balance because Britain's economic outlook is worse than any other major economy.

IT companies headed for lower attrition in coming quarters as global macro woes tame high churn, say analysts

IT companies headed for lower attrition in coming quarters as global macro woes tame high churn, say analysts

Mon, Oct 17, 2022

Tata Consultancy Services (TCS) said its LTM or Last Twelve Months attrition in IT services inched up further to 21.5 per cent but the company was quick to add that it will start seeing the churn "settle" in the coming months.

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