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.
Malaysia's economic growth in the second quarter of 2023 was the slowest in nearly two years due to sliding exports and a global slowdown, prompting the central bank to warn of lower full-year growth and the possibility of the target being hard to reach.
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.
India's economic growth likely accelerated to 7.7% in the April-June quarter, driven by strong service sector growth, high demand, and increased government capital expenditure, according to a Reuters poll.
India's economy is experiencing consistent growth, and is predicted to become the fourth-largest economy within 18 months and the third-largest by 2028, driven by strong fundamentals and infrastructure development, while successfully reducing poverty; however, further reforms in areas such as patents, judicial, administrative, and process reforms are needed to boost economic growth.
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.
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.
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.
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.
Nigeria's annual inflation rate reaches an 18-year high of 25.8% in August due to the removal of subsidies and rising prices, posing challenges for the country's largest economy.