The level of overdue credit-card delinquencies in the US is indicating a forthcoming recession.
The rally in the ruble, driven by recent appreciation and tighter restrictions, is a sign of Russia's economic stability as the country heads into the upcoming presidential elections and plans to allocate more budget towards the military.
Kenya's economic management is causing concerns as the government's plan for higher revenues and spending is undermined by a deteriorating formal sector and tax cuts for the corporate sector. The country's attempt to lower already low corporate taxes to induce compliance and attract investors goes against the reality exposed by the taxman's report, leading to a contracting economy and diminishing revenues.
The International Monetary Fund (IMF) has assessed that the average time for completion of development projects in Pakistan is 14.1 years, and there is a considerable potential to improve the country's infrastructure.
The skyrocketing sugar prices worldwide are impacting Nigerian bakers, leading to reduced production and closures due to the inability to afford the essential ingredient needed for bread, causing food insecurity for the country's struggling population.
UK inflation remains high at 4.6%, driven by soaring food prices, despite a decrease from the previous month, and may increase further due to potential crude oil price spikes and geopolitical turmoil; meanwhile, financial markets respond optimistically to lower inflation data and anticipate future interest rate cuts by the Bank of England.
The Ghana Catholic Bishops' Conference has urged the government to take immediate action to stabilize the economy and alleviate the hardships faced by Ghanaians due to the current economic difficulties.
The Pakistani rupee is expected to strengthen in the coming week due to dollar sales by exporters and optimism about the country's economy after the IMF's deal, with market estimates suggesting that the rupee will appreciate to around 282 against the dollar.
Chinese policy banks, including the Export-Import Bank of China and the China Development Bank, have not provided any financing to the energy sector in 2021 and 2022, despite President Xi Jinping's pledge to fund more renewable energy projects in developing countries, according to a study by the Boston University Global Development Policy Centre. China's investment in renewable energy projects overseas has remained low in recent years, with the largest share of loan commitments going to fossil fuel projects such as exploration and extraction activities. However, the researchers noted that China has the potential to increase renewable energy financing due to its technical capabilities and financial strength.
Pakistan must recognize the potential of its agriculture sector as a driver of economic growth rather than just a provider of food for the poor, as agriculture plays a major role in Pakistan's economy, accounting for 20 to 25 percent of GDP and more than 75 percent of exports; however, it remains neglected with growth stagnant at over two percent per annum and is plagued by myths and misconceptions.
The export of raw food products from Pakistan increased by almost 60% in October, leading to a rise in food inflation and higher prices for domestic consumers.
Taiwanese consumers often buy products from mainland China when the cost-performance value is high, despite tensions between the two regions, according to industry experts; however, concerns about data privacy and labour standards may deter some Taiwanese consumers from purchasing mainland Chinese brands.
Argentina is facing a closely contested election between Economy Minister Sergio Massa and libertarian outsider Javier Milei, with both candidates offering contrasting plans to address the country's economic crisis and high inflation.
Food inflation in Nigeria decreased by 0.54 percent in October, despite high prices of food and commodities in the country.
The rising cost of living, competition with supermarkets, and challenges like shoplifting have made it difficult for minimarts in Singapore to stay afloat.
Central banks in the US, euro zone, and the UK have paused their interest rate hikes, but there is uncertainty about whether Sweden's central bank will raise rates to combat inflation or take other measures, while Norway's central bank may tighten rates due to inflation concerns.
The hope is that the Federal Reserve will be able to control inflation without causing a significant increase in unemployment, a phenomenon referred to as "immaculate disinflation."
According to an analysis, the countries with the strongest economies in the world right now include Denmark, Australia, Spain, Ireland, Singapore, France, South Korea, Israel, Romania, New Zealand, Kuwait, Japan, Slovenia, Slovakia, Bahrain, Portugal, Trinidad and Tobago, Brunei Darussalam, Qatar, Croatia, Greece, and Lithuania.
Millions of homes in the United States, especially those in areas prone to natural disasters, are facing significant increases in insurance premiums due to the impact of climate change, making it difficult for homeowners, particularly Millennials and Gen Z'ers, to protect their living spaces.
The new labor contracts for autoworkers will increase their pay, but it will not significantly affect the prices of cars due to the relatively low labor costs compared to other factors and the competition with nonunion automakers. Demand, limited supply, and consumer preferences play a larger role in driving car prices higher.
Americans are spending more than they are saving, despite the reported cooling of inflation and the emphasis on saving for the future, as people prioritize immediate happiness and face financial challenges such as student debt and a changing economy.
While the COVID-19 pandemic caused financial hardship for many working-class Canadians, the wealthiest 1 percent experienced a significant increase in their wealth, highlighting the systemic inequality that favors the rich and perpetuates economic exploitation.
Despite being a major food producer, New Zealanders do not have access to cheap produce due to the high demand from the international market, lack of economies of scale, supply chain disruptions, and lack of competition in supermarkets, making it difficult to find anything that is cheaper in New Zealand compared to other countries.
A record number of $50 bills were printed last year, totaling $37.8 billion, due to increased demand for cash during the pandemic, even though the denomination is considered unlucky and uncommon.
The United States printed a record number of $50 bills in 2022, totaling 756,096,000, due to increased demand for cash during the COVID-19 pandemic and people's preference for larger bills, despite the bill's historically low popularity and superstitions associated with it.
The prospects for the global economy are unnerving as the American presidential election approaches, with neither Biden nor Trump appearing capable of rescuing it, leading some to see Republican candidate Nikki Haley as the best hope due to her prioritization of controlling the deficit, ending subsidies for green industries, and supporting small businesses and entrepreneurs.
With the global economy on the brink of a recession, neither Biden nor Trump are capable of rescuing it, making Nikki Haley, the Republican candidate, the best hope for the White House as her economic policies align with what the world economy needs, prioritizing deficit control, ending subsidies for green industries, and supporting small businesses and entrepreneurs.
Consumers are approaching the holiday shopping season with caution, reducing their spending due to higher prices and expensive credit, indicating a potential slowdown in the U.S. economy. Major retailers have reported a shift in consumer behavior towards essential purchases and bargain hunting, with lower sales and increased use of alternative payment methods. The National Retail Federation expects a slower increase in holiday spending compared to previous years, citing economic uncertainty and job insecurity as factors influencing consumer behavior. Economists suggest that consumers are wary of inflation and rising interest rates, leading to increased credit card debt and concerns about the ability to make payments. However, economists also foresee a potential improvement in the coming year if wage gains outpace price increases and interest rates decrease. Despite concerns, consumers are likely to continue spending, albeit at a slower pace.
Small businesses in Michigan are facing a challenging holiday shopping season due to inflation, rising costs, and increased competition from big-box retailers, despite overall holiday spending expected to reach record levels.
China's economy is facing a potential crash as its stocks have lost nearly $1 trillion in value, putting global markets at risk.
Billionaire investor Ron Baron believes that stocks are the best option for protecting against inflation, as the government pays for wars and pandemics by making money worth less, leading him to never own bonds and always stay invested in equities.
Stock markets have experienced a third consecutive week of gains fueled by lower-than-expected inflation, leading to reduced chances of a rate hike and anticipation of rate cuts; small-cap stocks have outperformed, while the dollar faced a weak week.
The housing market is becoming increasingly unaffordable for many workers, with home prices and mortgage rates rising while wages stagnate, leading to astronomical monthly payments and a growing number of people spending a large portion of their paychecks on their mortgages. The problem is not limited to homebuyers, as rent prices are also on the rise, making it difficult for individuals to find affordable housing options. To address the issue, it is crucial to increase housing inventory, rally communities to support housing development, and explore alternative housing solutions such as smaller homes or factory-built homes.
China is experiencing deflation as prices of goods and services have decreased by 0.2% compared to the same month last year, raising concerns about decreased spending and potential economic recession.
Piper Sandler strategist Michael Kantrowitz believes the US economy is heading towards a recession, citing indicators such as weak housing, contraction in manufacturing, and slowing corporate profit growth, with employment being the final shoe to drop. Kantrowitz sees a weakening labor market and views the rising number of unemployed persons as a significant red flag. Other leading recession indicators also point to a downturn, but some market onlookers still anticipate a soft landing.
Canada's trucking industry is facing a shortage of drivers, with over 23,000 vacancies currently and a projected increase to 55,000 by 2024, prompting the industry to seek new immigrants to fill these positions.
Moody's leaves Italy's sovereign debt rating at Baa3 with a stable outlook, providing an unexpected boost for Prime Minister Giorgia Meloni's government amid a challenging economic climate.
The IMF has revised down Pakistan's foreign loan requirements to $25 billion for the current fiscal year, providing relief for its cash-starved economy, but also lowered the economic growth projection to just 2%, rejecting the government's forecasts.
Despite some indications of growth, there remains skepticism among consumers, experts, and investors about the strength of China's economy.
The IMF has revised down Pakistan's foreign loan requirements for this fiscal year by USD 3.4 billion to USD 25 billion, and also lowered the economic growth projection to 2 percent, in a staff-level agreement reached with Pakistani officials.
The UK government's soaring debt and the resulting high cost of debt interest are forcing both the Conservative and Labour parties to make difficult choices in their election campaigns, with tax rises and spending cuts being the most likely options in order to address the dire financial predicament.
The White House is concerned that influencers on TikTok complaining about the economy could jeopardize Joe Biden's chances of re-election in 2024, as hashtags such as 'Silent Recession' gain traction, undermining their message about 'Bidenomics' showing positive signs.
China's central bank and financial regulators promise to support the property sector and address local government debt risks, aiming to revive the economy and prevent a property slump.
The UK's inflation rate has fallen sharply in October to 4.6%, less than half of the figure at the end of 2022, mainly due to tightening monetary policy, economic slowdown, and declining global commodity prices rather than government actions, leading to doubts about the government's role in this decline; however, efforts to encourage people back to work and tough decisions on fiscal policy may have contributed, but managing inflation is ultimately the responsibility of the Bank of England, and the fall in inflation has provided some flexibility for the Chancellor's fiscal targets.
The International Monetary Fund (IMF) has revised Pakistan's foreign loan requirements to $25 billion for this fiscal year, reducing it by $3.4 billion, and also lowered the economic growth projection to just 2%, turning down the government's forecasts.
Pakistan received less than $3.85 billion in foreign loans, which is almost one-fifth of its annual budget estimate, due to poor credit rating and adverse conditions in global financial markets.
South Korea's government-funded research and development institutions, which have been key to the country's economic growth, are facing potential budget cuts, but opposition parties argue that maintaining research funding is crucial for competitiveness.
Consumer prices fell more than expected, with October inflation essentially flat at 3.2% due to lower gasoline prices and higher shelter costs.
Jeremy Hunt has suggested that tax cuts may be on the way in next week's Autumn Statement, as economists have given the Chancellor a better-than-expected spending forecast allowing for up to £10 billion more to spend on measures.
The Argentine presidential run-off election is set to be a closely contested battle as candidates Sergio Massa and Javier Milei aim to address the country's deep economic crisis and high inflation rates, with Massa promising to improve the country's finances and Milei proposing radical changes such as dollarization and liberalizing gun laws.