Next year, net interest payments on the U.S. national debt will rise to 3.1 percent of GDP, the highest proportion since 1940, then climb steadily to 3.9 percent by 2034, the nonpartisan Congressional Budget Office (CBO) reported last week, assuming current fiscal and political trends persist.
The Reserve Bank of Australia (RBA) lopped a half-point from its growth forecast in the current fiscal year ending 30 June. The country’s GDP will grow by 1.3 percent, the bank said, not the 1.8 percent it had expected in November.
After Russia invaded Ukraine, Russia ended its natural gas exports to Europe and Eurozone countries joined Western allies in banning imports of Russian petroleum fuels.
Germany’s economy shrank by 0.3 percent in 2023’s final quarter and will grow by only that much this year, according to the newest forecast by the Organization for Economic Cooperation and Development (OECD). The group’s new projection has cut in half its estimate of Germany’s 2024 performance.
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…
In 2023, $541 billion in loans against commercial real estate came due, data service Trepp reported, the highest amount ever for a single year.
In 2023, more than 25,000 U.K. businesses, small and large, went bankrupt, the most since 1993, The Wall Street Journal reported.
The Eurozone’s annual rate of wage increases rose to 4.7 percent in 2023’s third quarter, the fastest pace in the common currency’s 25-year history, the Financial Times reported.
Headline inflation in the 20-nation Eurozone ticked down to 2.8 percent last month after notching 2.9 percent in December, coming closer to the European Central Bank’s (ECB’s) 2-percent target, the zone’s Eurostat statistics agency reported.
Russia’s wartime economy will expand by 2.6 percent this year, the International Monetary Fund (IMF) has forecast, more than doubling its 1.1-percent estimate made in October but slightly less than the 3 percent expected for 2023.