In February, the Royal Bank of Australia (RBI) noted “encouraging signs” that inflation was waning and hinted at an interest rate cut by the end of this year.
Tag: GDP
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GLOBAL DEBT SETS NEW RECORD AT $315 TRILLION
In this year’s first quarter, nations took on another $1.3 trillion in debt, pushing the worldwide total to $315 trillion, the Institute of International Finance (IIF) reported.
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IMMIGRATION IS DRIVING GROWTH IN RICH COUNTRIES
“Exceptionally large” numbers of immigrants last year entering into Australia, Canada, Spain, the U.K., and the U.S. “definitely” helped ease labor shortages and grow GDPs, the Organization for Economic Cooperation and Development (OECD) said in a study released last week.
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U.S. PRODUCTIVITY NOT SHINING BRIGHT
U.S. workers’ productivity in this year’s first quarter grew by a scant 0.3 percent, compared to 3.5 percent in the quarter before.
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GERMANY ENTERING RECESSION, DATA SHOWS; BANKS AT RISK
After flatlining in this year’s second quarter, Germany’s economy contracted 0.1 percent in the third. New data shows GDP continuing to decline, leading the country’s central bank to predict another three months of shrinkage.
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INTEREST PAYMENTS ARE EATING GOVERNMENT BUDGETS
After piling up debt to fund COVID-era stimulus programs and health care costs, the world’s national governments will pay an additional $2 trillion in interest this year, according to data compiled by the International Monetary Fund and analyzed by research firm Teal Insights.
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U.S. ECONOMY GREW 4.9 PERCENT IN THIRD QUARTER
U.S. GDP grew at an annual rate of 4.9 percent in this year’s third quarter, the commerce department reported.