China's fiscal revenue increased by 11.5% in the first seven months of 2023, but the growth rate was slower than the previous six months, indicating a potential decline in the economy's momentum.
The U.S. economy has defied previous expectations of slow growth due to factors such as poor productivity and population aging, with growth exceeding projections and averaging 3% under President Joe Biden, but policymakers are still cautious and concerned about the uncertain economic trends, including labor force growth, inflation, and productivity.
Thailand's economy grew at a slower pace in the second quarter due to weak exports and slower investment, prompting the government to lower its 2023 growth forecast, while the central bank may not raise rates again amidst faltering economic recovery and low inflation.
U.S. economic growth may be accelerating in the second half of 2023, defying earlier recession forecasts and leading to a repricing of long-term inflation and interest rate assumptions.
Australia's economy is projected to grow more slowly over the next 40 years due to an aging population and slower population growth, according to long-range economic forecasts published by the government.
China's economic slowdown, marked by falling consumer prices, a deepening real estate crisis, and a slump in exports, has alarmed international leaders and investors, causing Hong Kong's Hang Seng Index to fall into a bear market and prompting major investment banks to downgrade their growth forecasts for China below 5%.
Nigeria's economy experienced faster growth in the second quarter of 2023, driven by the services sector, although the growth rate was lower than the previous year due to challenging economic conditions.
Canada's second-quarter GDP report is expected to show a significant slowdown in economic growth, potentially leading to a pause in interest rate hikes by the Bank of Canada despite recent high inflation data.
Bank of Japan Gov. Kazuo Ueda explains that price growth is slower than the target of 2%, leading officials to continue their current monetary-policy strategy of easing.
The global economy may face slow growth due to record levels of government debt, geopolitical tensions, and weak productivity gains, which could hinder development in some countries even before it begins.
Thailand's employment growth slowed in the second quarter of 2023 as economic growth decelerated, with job growth mainly in the tourism and construction sectors, according to the state planning agency.
China's economy is struggling due to an imbalance between investments and consumption, resulting in increased debt and limited household spending, and without a shift towards consumption and increased policy measures, the economic slowdown may have profound consequences for China and the world.
Forecasters have decreased their growth expectations for China due to deflation, rising youth unemployment, and a property-market crisis, with GDP predicted to rise by only 5.1% in 2023 and 4.5% in 2024.
The US economy grew at a slower pace in the second quarter, but still showed more strength than expected, with GDP revised down to 2.1% from an initial 2.4%; however, forecasts indicate a robust reading in the third quarter of 2.5% or higher, despite concerns of a potential recession.
China's economy will struggle with low growth under 5% through 2024, leading to a "structural hard landing" due to tight monetary policy, disappointing economic reopening, and challenges in real estate and stock markets, according to TS Lombard strategists.
China's factory activity contracted for the fifth consecutive month in August, indicating that the slowdown in the country's economy has not yet reached its lowest point.
India's economy grew at its fastest pace in a year in the April-June quarter, driven by services and manufacturing, though economists warn of a slowdown ahead due to factors like rising food prices and slowing global growth.
Consumer spending is driving third-quarter GDP growth, but unsustainable spending habits, tightening lending standards, and the depletion of pandemic savings may lead to a decline in consumer spending in early 2024.
The global economy is expected to slow down due to persistently high inflation, higher interest rates, China's slowing growth, and financial system stresses, according to Moody's Investors Service, although there may be pockets of resilience in markets like India and Indonesia.
Pakistan's economy has experienced a slowdown in its structural transformation, with a significant decrease in the share of agriculture and a lack of growth in the industry sector, indicating a premature de-industrialization contrary to successful developing nations, emphasizing the need for policies to boost industrialization and address taxation inequities.
India's GDP growth reached a four-quarter high of 7.8% in Q1FY24, with private consumption and services picking up pace, but challenges lie ahead with the sustainability of services growth and concerns over the monsoon and agriculture sector.
Global business activity slowed further last month as services firms struggled with weak demand, potentially leading to a recession in the euro zone and a decline in the UK's private sector activity.
China's services sector experienced a slowdown in business activity, resulting in the lowest level in eight months, as weaker foreign demand and sluggish overseas orders impacted consumption, despite economic stimulus efforts.
China's economy is showing signs of slowing down, including a decrease in GDP growth rate, declining exports, deflationary consumer price index, high youth unemployment, a weakening yuan, and a decrease in new loans, which could have global implications.
India's services industry experienced a slight slowdown in August, but overall conditions remained strong with record-high exports, indicating that the country will continue to be the fastest-growing major economy.
China's economic growth has slowed but has not collapsed, and while there are concerns about financial risks and a potential property crisis, there are also bright spots such as the growth of the new energy and technology sectors that could boost the economy.
Policymakers expect slower growth in China, potentially below 4%, as the country transitions to a consumption-driven economy, which could have a negative impact on the global economy and alleviate inflationary pressures.
The eurozone's GDP barely grew in the second quarter, with weak exports and sluggish domestic consumption contributing to worse-than-expected results.
Malaysia's Prime Minister Anwar Ibrahim has announced that the country is targeting an annual economic growth rate of at least 5% until 2025, lower than the previous target, due to the impact of a global slowdown, with plans to focus on high-value industries and increase private investments.
China's factory output and retail sales grew at a faster pace in August, but declining investment in the property sector poses a threat to the country's economic recovery.
Treasury Secretary Janet Yellen states that U.S. growth needs to slow to its potential rate in order to bring inflation back to target levels, as the robust economy has been growing above potential since emerging from the COVID-19 pandemic. Yellen also expects China to use its fiscal and monetary policy space to avoid a major economic slowdown and minimize spillover effects on the U.S. economy.
