Germany's farmers have been protesting against the government's planned cuts to diesel subsidies and agricultural vehicle tax exemptions, although the sector's profits have been rising, agriculture only generates just under 1% of the country's GDP, and the number of farms has been decreasing.
Ghana's inflation dropped to 23.2% in December 2023, leading to hopes of a possible easing of the central bank's monetary policy.
The Federal Reserve predicts that it may take two more years to reach its 2% inflation target due to sticky components like housing and services, despite the recent decrease in inflation.
Mortgage rates are increasing slightly in the second week of January and are expected to fluctuate throughout the year, with experts predicting a slow decline and landing in the low 6% range by the end of 2024.
The World Bank projects 3.3% growth in Nigeria's economy by 2024, with fiscal income increasing due to structural changes and the easing of inflation, while per capita income will reach pre-pandemic levels by 2025.
Indian Prime Minister Narendra Modi's social media posts promoting the island chain of Lakshadweep as a tourist destination sparked backlash from officials in the Maldives, highlighting the delicate relationship between the two countries and their competing alliances with India and China.
German commuters face chaos as a three-day national rail strike disrupts travel along with ongoing protests by farmers blocking roads and highways in Europe's largest economy.
Nintendo has attained a market capitalization of 10 trillion yen for the first time in 16 years, driven by gains in high-tech and high-dividend stocks.
The U.S. national debt has surpassed $34 trillion for the first time, raising concerns about its sustainability as deficits continue to rise, interest rates remain high, and the country's debt-to-GDP ratio reaches levels that could lead to a potential debt crisis.
JPMorgan Chase CEO Jamie Dimon remains skeptical about the likelihood of a soft landing for the U.S. economy, pointing to concerns such as the end of COVID relief money, the government's huge deficit, and geopolitical tensions. Despite this, Dimon believes that leaders will be able to navigate a recession and that consumers are currently in decent shape.
The number of available high-paying remote jobs in the U.S. has dropped nearly 70% in the last three months, while in-person job openings with six-figure salaries have increased by 93%, with companies preferring collaboration and leadership in the office; health care, tech, and operations are the industries with the most high-paying job opportunities at the end of 2023.
The Ministry of Statistics and Programme Implementation will release data for retail inflation in December, with expectations that it will cross the 6% threshold, affecting interest rates and loan repayments. Additionally, inflation over the past 5 years has exceeded the RBI's target rate, potentially leading to diminished purchasing power for consumers.
Many economists believe that household purchasing power has caught up to inflation, as wages have increased faster than consumer prices in recent months, although there are still some measures that show a gap between wages and inflation, which could affect Americans' overall financial health.
According to a survey by the World Economic Forum, there is an increased chance of global catastrophes in the next decade, with experts identifying misinformation and disinformation as the most severe risk in the next two years, followed by extreme weather events and cyber insecurity.
U.S. stocks finished higher as investors awaited the December inflation report, although the S&P 500 fell short of its all-time high due to comments from a Federal Reserve official.
In 2023, intentional internet shutdowns cost the global economy $9.01 billion, with Africa experiencing a setback of $1.74 billion due to 30,785 hours of internet downtime affecting 84.8 million people, primarily attributed to military coups and protests within the region.
The Federal Reserve is expected to cut interest rates in 2024, but this could bring the institution into the political spotlight during the election year, as politicians have historically discussed Fed policy during campaigns.
China is attempting to manage its real estate crisis to avoid spillover effects, but historical patterns suggest that credit-driven property booms often lead to major banking crises. The sector, which contributes 30% to China's GDP, has been struggling since late 2020, with numerous defaults on bond payments and high debt levels. The country's lenders also face risks as credit conditions deteriorate, potentially impacting the broader financial system.
JPMorgan Chase CEO Jamie Dimon warns that the economy of 2024 may resemble that of the 1970s due to similarities in fiscal deficits, changing trade flows, and government spending - factors that Dimon believes are "all inflationary." He expresses skepticism about achieving a soft landing and warns of the possibility of a recession.
Kenya's GDP in Q3 2023 grew to 5.9% compared to the previous year, with agriculture being the leading sector, while inflation eased, although the country's currency significantly depreciated.
The Federal Reserve will likely introduce massive quantitative easing and rate cuts in response to an already-recessionary America, which will have a major impact on the U.S. dollar, according to Matthew Piepenburg of Matterhorn Asset Management. Moreover, any significant shift away from the dollar in Saudi Arabia's oil sales would greatly affect gold prices.
Cubans are facing a 500% increase in fuel prices, causing concern about how they will manage with their already low salaries and economic crisis.
Inflation in Australia slows down more than expected, offering hope for a decrease in high interest rates, as the consumer price index slows to 4.3% in the 12 months to November 2023, along with a slight fall in job vacancies.
Australia's inflation slowed to 4.3% in November, the slowest annual rate of price rises since January 2022, increasing the likelihood of an earlier rate cut by the Reserve Bank of Australia.
Rep. Marjorie Taylor Greene criticizes GOP colleague, Rep. Chip Roy, for suggesting that Speaker Mike Johnson could be ousted, expressing frustration with the lack of communication within the GOP conference and calling the motion to vacate "about the dumbest thing that could happen."
Cubans brace for a significant increase in fuel prices, as the government seeks to control deficit spending and raise funds for imports, causing concerns over a chain reaction of rising prices and limited access to fuel.
China's stock market lacks positive drivers and Beijing's support efforts are unlikely to be effective due to persistent risks and concerns over geopolitical tensions, deflation, and a possible recession in the US. However, there may be potential positives such as bargain hunting and the return of foreign investors, which could stimulate growth. The CSI 300 Index is currently near a five-year low, and while measures to boost stocks have been implemented, they are seen as addressing symptoms rather than underlying issues in the economy. Despite these challenges, opportunities may still outweigh risks at current market levels.
The COVID-19 pandemic caused many Americans to leave the workforce, resulting in a significant decrease in labor force participation and a higher unemployment rate than officially reported, according to data from the Bureau of Labor Statistics.
China's efforts to construct a nationwide unified market to boost its domestic economy and counter decoupling attempts by the US are hindered by disparities in approval and market supervision between regions, slow progress in implementing reforms, and local protections preventing fair competition.
The global economy is expected to slow down for a third consecutive year in 2024, with the World Bank forecasting a growth rate of just 2.4 percent, citing high interest rates, persistent inflation, and a weakened China as contributing factors.
The year 2023 was officially the hottest year on record, leading to increased utility bills and home-insurance costs for households, particularly impacting lower-income families who are facing rising costs and potential debt.
The cities with the highest percentage of people behind on a debt payment in the United States are predominantly located in the southern region, with McAllen, Texas having the largest percentage of residents late on a payment.
China, Japan, and India have pursued different paths to economic reform, with Tokyo and New Delhi's commitment paying off while Beijing's shine diminishes.
Revolving consumer loans in the US, mostly consisting of credit card debt, reached a record high of $1.3 trillion, with credit card delinquencies rising and indicating potential economic instability.
The Federal Reserve is unlikely to extend its emergency loan program, the Bank Term Funding Program, which is set to expire on March 11, according to Michael Barr, the Fed's vice chair for supervision.
West Michigan's economy is predicted to weather potential downturns due to a growing population of young people, increasing workforce, high housing demand, and diversified manufacturing.
High interest rates in Canada are delaying business and consumer spending decisions and are expected to result in more provisions for bad loans this year, according to Canadian bank CEOs.
One-third of Americans believe they will be in credit card debt indefinitely, as credit card balances have risen 16% in the past year and interest rates have spiked an average of 22% while incomes struggle to keep up with the cost of goods, leaving many vulnerable to accumulating debt.
Rising interest rates and wages in 2023 have led to a 13-year high in corporate bankruptcies among the largest US firms, surpassing the number of bankruptcies during the height of the pandemic in 2020.
The World Bank warns that the global economy is on track for its weakest half-decade of growth since the early 1990s, with poor countries being hit hardest by setbacks from the COVID-19 pandemic and the possibility of a "wasted" decade ahead.
Former President Donald Trump expressed his desire for a crash in the U.S. economy within the next 12 months, stating that he did not want to be compared to Herbert Hoover, who was blamed for the Great Depression; however, recent economic data and Wall Street's optimism indicate signs of economic strength and the likelihood of a soft landing.
Former President Trump's statement that he hopes the economy crashes within the next year has sparked criticism from Democrats, including Rep. Nancy Pelosi, who called it a manifestation of his insensitivity and self-interest.
The Biden campaign plans to push their economic arguments in response to former President Donald Trump's prediction that the economy will crash, viewing it as an opportunity to highlight Trump's disregard for the American people. Biden's campaign sees this as a chance to contrast their economic plans with Trump's and appeal to voters' concerns about the economy.
Traders are expecting a slightly higher annual headline CPI inflation rate for December, but it is not expected to significantly impact the overall trend of falling price gains this year, supporting the case for rate cuts by the Federal Reserve.
JPMorgan Chase CEO Jamie Dimon remains skeptical of the widely expected soft landing scenario for the US economy, suggesting that a mild or heavy recession may be more likely due to factors such as high interest rates, diminishing COVID-19 relief funds, and geopolitical tensions.
Former President Trump expressed his hope for an economic downturn under President Biden's administration in order to capitalize on voters' economic concerns and place blame on his successor.
The BRICS bloc, which includes Saudi Arabia, the UAE, and Iran, is continuing to develop its own currency in order to reduce reliance on the US dollar, with the possibility of a debut in 2024.
China's top economic planner has announced plans to support and nurture the entrepreneurial spirit of the private economy, including accelerating the legislative process and creating a better environment for private firms, in an effort to revive investment and boost the sector.
Sub-Saharan Africa is expected to bounce back in 2024 after facing economic challenges in 2023, with six countries from the region predicted to be among the top 10 performing economies worldwide, according to the IMF. The Ivory Coast is forecasted to have the highest GDP growth at 6.6%, followed by Ethiopia, Tanzania, Uganda, Kenya, and the Democratic Republic of the Congo.
Former President Donald Trump expressed his hope that the US economy will crash within the next year to avoid being blamed for a downturn if he wins a second term, while Wall Street is becoming more open to the idea of a soft landing as inflation cools.