Georgia's fiscal economist predicts a mild recession in the first half of 2024, but the state's massive surpluses from COVID-19 shutdowns will allow for continued big spending.
Chinese Premier Li Qiang assures business and political leaders at the World Economic Forum that China's economy is strong and open for business.
China's state-owned banks are tightening restrictions on funding for Russian clients due to fears of secondary sanctions from the U.S., leading some banks to sever ties with clients on the U.S. sanction list and cease financial services to the Russian military sector.
Stifel Financial CEO Ron Kruszewski believes that the Federal Reserve will cut interest rates less and later than the market expects, as inflation remains a concern and geopolitical events could disrupt stability and trade.
Americans have slowed down their spending and expect to spend less in the future, but paying off debt is a priority, according to a survey by the Federal Reserve Bank of New York.
Half of Russia's regions are experiencing utility breakdowns, leaving hundreds of thousands without heat, water, electricity, and gas, as the country faces funding cuts to its utility infrastructure.
Chinese Premier Li Qiang estimates that China's economy grew around 5.2 percent last year, surpassing its target, without relying on risky or short-term measures.
The BRICS alliance is close to launching a new currency to challenge the US dollar, with three out of the five founding countries already in agreement, but political consent from India and China is still needed.
Chinese President Xi Jinping has outlined China's plan to become a financial superpower, highlighting the need for a strong economic foundation and a distinct system from Western models, while also emphasizing the importance of preventing systemic financial risks and cracking down on corruption.
Democratic presidents have historically outperformed Republicans in terms of economic growth, with four Republican administrations only creating 16.7 million jobs compared to three Democratic administrations creating 44.6 million jobs, and of the last eleven recessions, ten have occurred under Republican presidents.
The New York Federal Reserve's Empire State business conditions index, a measure of manufacturing activity, plummeted to its lowest level since the pandemic, raising concerns about the struggling U.S. manufacturing sector.
Donald Trump leaves his defamation trial after the judge mentions a previous jury's decision, China's population drops for the second year due to COVID-19, new details are released about a murder case in Ontario, and Burger King plans to buy its largest US franchisee for $1 billion; meanwhile, the Detroit Lions coach is celebrating their first playoff win in 32 years, and Iran claims to have attacked an Israeli "spy headquarters" in Iraq.
The city of Tianshui in China has been criticized for excessive spending on a tram project, highlighting the country's crackdown on wasteful government expenditure and emphasis on quality development over rapid growth. The tram has faced delays, cash-flow problems, and generated significantly less income compared to operating costs, while also posing potential geological risks. This case, along with others, exemplifies the pursuit of short-term benefits at the expense of long-term development by local officials.
Mortgage rates are expected to continue declining throughout 2024, with fluctuations on a daily basis, but the Federal Reserve's goal of reducing inflation is unlikely to lead to rate cuts in the near future, keeping rates in the current range.
Women are gaining more economic power in the United States as they start more businesses, earn as much or more than their husbands in many marriages, and are set to control a significant portion of the nation's wealth by the end of the decade, signaling a seismic shift and the potential for systemic changes in the financial industry; however, there is still work to be done to address gender disparities and foster financial confidence and inclusion for women.
The average rate on a two-year fixed mortgage in the UK has fallen to 5.62% compared to 5.93% at the start of the year, despite concerns about the impact of unrest in the Red Sea, with analysts predicting further rate cuts and increasing competition in the mortgage sector.
German inflation rose to 3.7% in December, prompting prominent ECB officials to caution against rate cuts, while EUR/USD trades lower on a lift in US yields and EUR/GBP bounces off support but faces uncertain momentum.
Despite forecasts of a soft landing for the US economy, recent reports and other indicators suggest signs of potential turbulence and a risk of recession.
China's younger generation, comprised of millennials and Generation Z, are facing a sense of gloom due to slower economic growth and decreased expectations for economic dynamism, leading to lower wage growth, limited job prospects, and record-high youth unemployment.
The uncertain economic outlook in China is discouraging young people from getting married, leading to a decline in marriage registrations and concerns about the country's aging population and low fertility rate.
China is considering issuing 1 trillion yuan ($139 billion) of new debt under a special sovereign bond plan to finance efforts to support the struggling economy, with the funds earmarked for projects related to food, energy, supply chains, and urbanization.
Market expectations for rapid interest-rate cuts may be premature, according to Gita Gopinath, an official from the International Monetary Fund, who believes that the battle against inflation is not yet over and rates are more likely to come down in the second half of this year.
Despite rising prices in Tokyo due to various factors, many office workers are still able to find affordable lunch options for ¥500 or less, often opting for budget-friendly meals like gyudon or ramen.
Investors should prepare for increased volatility in trade, foreign policy, and financial markets as Donald Trump's strong win in the Iowa presidential nomination contest suggests a bumpy road ahead for his election bid.
China's sovereign wealth fund, Central Huijin Investment, has pledged to assist with risk mitigation and market stabilization in 2024, as the country's state companies play a larger role in supporting the struggling stock market.
Mortgage rates are expected to fall in 2024, potentially leading to a more positive outlook for the housing market, although rate cuts will depend on inflation data and the Federal Reserve's actions.
A record 24.82 crore people in India moved out of multidimensional poverty between 2013-14 to 2022-23, with notable improvements in all 12 indicators of the Multidimensional Poverty Index (MPI), according to a report by Niti Aayog.
A World Economic Forum report suggests that a majority of economists believe economic activity will slow down in 2024 due to global conflicts and the stresses of long-term deflationary efforts. Europe is expected to be in the worst shape regionally, with the US also predicted to experience a slowdown. However, there is some optimism regarding inflation, with few economists expecting high inflation globally. Volatility in the global economy is expected to increase over the next three years.
The Greater Cincinnati metro area's economy grew by 1% in 2022, one of the slowest growth rates among major Midwest regions and the nation's 50-largest metropolitan areas, attributed to a sluggish manufacturing sector and delayed pandemic recovery; however, improvements in population growth, infrastructure, and policies can sustain and expand the economy in the future, according to Cincinnati USA Regional Chamber president Brendon Cull.
China's private firms, including conglomerates Fosun Group and Juneyao Group, are urged to thrive overseas and reduce their debt in order to survive and reap opportunities, as the days of runaway growth have ended, amidst the country's ongoing debt crisis and economic challenges.
Europe's leading position in sustainability and inclusion is at risk due to its lower per capita income compared to the United States, emphasizing the need to enhance competitiveness in areas such as innovation, energy, capital, supply chains, talent, size, and competition and markets. Achieving ambitious goals in these areas will be crucial for Europe's future growth and prosperity.
14 state governments in Nigeria, including Bauchi, Bayelsa, Benue, and Borno, have spent billions on foreign trips but failed to attract any foreign investments, largely due to insecurity and other issues in the country.
China's local governments, driven by the need to deliver economic growth, are facing challenges in attracting investments amid an economic downturn, leading to a shift in competition from money and projects to attention from consumers in intercity competition.
The combined wealth of the world's five richest men more than doubled from March 2020 to the end of 2023, reaching $869 billion, while the richest 1% now own 43% of the world's financial assets, according to a report by Oxfam.
China-South Korea trade may continue to decline due to strained relations with the US, despite recent easing of restrictions on graphite exports.
India's economy is booming, with a growth rate of 7.6% in the past year, and Prime Minister Modi's economic reforms may lead to an investment boom and continued growth.
American household wealth increased during the pandemic, with the over-50s benefiting most, as their average net worth exceeded $1 million, driven by the hot real estate market and stock market rally; however, there is a significant disparity between average and median household wealth in the US.
Goldman Sachs economists predict that the Federal Reserve will start lowering its benchmark interest rate in March 2024 and make a total of five cuts throughout the year, leading to reduced borrowing costs for consumers and businesses, as the U.S. economy experiences modestly slowing economic growth and decreasing inflation.
Loblaw Cos. Ltd. is reducing its discounts on food nearing expiry to 30% off in order to be more consistent, instead of offering discounts of up to 50% as before.
A growing number of Americans are struggling to make their monthly credit card payments due to high inflation and interest rates, resulting in an increase in delinquency rates and a record-breaking average credit card annual percentage rate (APR) of 20.72%.
Champagne sales have declined in 2023, almost returning to pre-Covid levels, but the financial fortunes of Champagne houses have been less affected as they sold more expensive labels, maintaining sales above $6.6 billion.
Canada needs to rein in immigration to escape a "population trap" caused by rapid population growth that is straining the country's capacity and infrastructure, according to National Bank of Canada economists. They argue that population growth should not exceed 300,000 to 500,000 annually, considerably lower than the current trend. Critics have raised concerns about the government's expansionary immigration policies and the lack of limits on temporary residents, such as students and workers. The report highlights the need for better balance between population growth and infrastructure development to improve living standards.
Mounting credit card debt in America has led to an increase in delinquency rates, with the percentage of overdue balances surpassing pre-pandemic levels for the first time, as interest rates reach a two-decade high.
A survey of CEOs by PwC reveals that while executives are feeling more optimistic about the global economy, a growing number believe their companies will need to undergo major transformations due to pressure from climate change and artificial intelligence in order to survive the next decade.
Prominent economist David Rosenberg believes that Canada is already in a recession, with stalling economic growth and high immigration numbers being the major factors, and predicts that the recession will continue to worsen throughout the year.
The yield on 10-year Chinese government bonds remains near record lows amid deflationary pressure and speculation of further monetary easing, despite the central bank maintaining its key interest rate steady.
Canadian consumers are cutting back on spending due to expectations of higher interest rates and inflation, while mortgage holders remain confident in their ability to handle higher monthly payments, according to a survey conducted by the Bank of Canada. Financially vulnerable households are experiencing higher levels of financial stress, while businesses are facing weaker demand and increased competition, slowing the pace of price increases.
German finance minister, Christian Lindner, told a crowd of protesting farmers in Berlin that he could not promise more state aid, but vowed to fight for their freedom and respect.
Democrats believe negative media coverage, rather than President Biden's economic policy, is responsible for voters' lack of enthusiasm about the economy going into the 2024 election.
Experts predict that home equity loan rates will continue to decline in 2024, with potential reductions of up to 0.75%, influenced by Federal Reserve rate cuts and market conditions.