Macro

The Austrian economy contracted 0.6% in the second quarter of 2024 on an annual basis, the latest data from Statistics Austria showed. “Austria’s economy is sliding from recession towards stagnation. In the second quarter of 2024, gross domestic product fell for the fifth time in a row, declining by 0.6% compared to the same quarter of the previous year. Industrial production and

The Indian economy expanded by 6.7% from the previous year in the June quarter of 2024, slowing from the 7.8% increase in the earlier period, preliminary figures from the country’s statistical office showed Friday. The Reserve Bank of India (RBI) had forecast 7.1% growth for the quarter while economists had forecast 6.9% expansion. It was the slowest expansion in five quarters, as

The inflation rate in Switzerland rose to 3.3% in January from a year earlier, largely reflecting higher food and energy prices, the Federal Statistics Office said, the highest reading since September 2022, from 2.8% in the prior month and above market expectations of 2.9%. Core inflation that excludes fresh food, energy and fuel, remained unchanged at 2.2%. The increase in inflation was

About 47 shops closed for good every day in 2022 in the UK, according to analysis from the Centre for Retail Research (CRR), an independent research body which provides analysis of retail sector trends. It says 17,145 stores on high streets and other locations across the country shut in total, up almost 50% on 2021. The group’s survey found that 151,474 retail jobs

Germany’s economy, the largest in Europe, is expected to contract in the fourth quarter of 2022 and enter a recession, as well as the first quarter of 2023, Deutsche Bundesbank, said on Wednesday (Nov. 23) in a monthly report.  The country’s central bank stressed that the “extent of the recession is extremely uncertain.” According to the report, uncertainty about energy supply, as

The Organisation for Economic Co-operation and Development (OECD) said that global growth is set to slow to 3.1% in 2022 and fall even further to 2.2% in 2023 The OECD stressed that “uncertainty about the outlook is high” and the risks have become “more skewed to the downside and more acute” but the global economy should avoid a recession next year “We

India’s foreign exchange reserves rose to by a whopping $14.72 billion to $544.715 billion in the week through Nov. 11, marking their biggest weekly jump in more than a year, the Reserve Bank of India’s (RBI) weekly statistical supplement showed. Asia’s third-largest economy’s reserves stood at $529.99 billion by Nov. 4. The rise in the foreign exchange reserves was likely fueled by

Britain’s Labour opposition leader Sir Keir Starmer sounded the alarm on house price “shocks” across the UK as mortgage rates rise. The politician told City A.M on Thursday (Oct. 6) there’s “no market confidence” in the government and that “we are going to see these shocks in mortgages and housing as a direct result of it”. Analysis by the Labour Party suggests an average

The annual inflation rate in the US decreased to 8.5% in July from an over 40-year high of 9.1% hit in June, the Labor Statistics Bureau revealed in its report on Wednesday (Aug.10). The figure was slightly cooler than the 8.7% expected by analysts surveyed by Dow Jones. Month on month, the Consumer Price Index (CPI) was unchanged compared to June. After

The euro, which has lost over 9% of its value against the dollar since the start of the year, continued its downfall on Tuesday (July 5), falling to its lowest level in two decades. The joint European currency shed around 1.3% for the session to hit $1.029 by mid-afternoon in Europe, having earlier been as low as $1.028. The decline came amid soaring gas prices