Surprising analysts, France’s economy contracted by 0.1 percent in this year’s third quarter, the national statistics agency said after revising its estimate down from an initial 0.1-percent gain.
Tag: Global Economy
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OPEC+ ALLOWS MEMBERS TO MAKE VOLUNTARY PRODUCTION CUTS
After internal disagreements postponed its meeting from mid-November to the last day of the month, OPEC+ has decided to set no new mandatory production cut for the cartel as a whole.
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WORLD ECONOMY WILL SLOW SLIGHTLY IN 2024, OECD SAYS
Wars, lingering inflation, and persistent high interest rates will hold global economic growth to 2.7 percent in 2024, compared to an expected 2.9 percent this year, and perk up to 3.0 percent in 2025, the Organization for Economic Cooperation and Development (OECD) has forecast.
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GOING OUT OF BUSINESS TRENDS
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…
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
The economic slowdown is for all to see. Holiday sales are weaker than expected, job openings are dropping and as the data shows, firings are increasing. Welcome to week 64 of the job loss trend.
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TOP TREND 2023, OFFICE BUILDING BUST: BUILDING OWNERS CAN’T BORROW MONEY TO PAY LOANS
Among securitized office mortgages that came due during the first nine months of this year, only one in three was paid in full by 1 October, according to Moody’s Analytics.
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TURKEY’S CENTRAL BANK RAISES INTEREST RATE TO 40 PERCENT
Signaling a newfound seriousness about inflation, now running at about 61 percent, Turkey’s central bank raised its key interest rate by 5 points on 23 November to 40 percent, its highest level in almost 20 years.
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GERMAN GOVERNMENT FREEZES SPENDING AS COURT BLOCKS SHIFT OF FUNDS
Germany’s government has frozen all new spending commitments after the country’s constitutional court forbade the government from transferring €60 billion budgeted to fight the COVID War to programs designed to modernize the economy and mitigate climate change.
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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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EUROPE’S BANKS FEEL INCREASING STRESS, ECB WARNS
Loan defaults and late payments are rising among Eurozone banks, with the lenders showing “early signs of stress” in their balance sheets, the European Central Bank (ECB) said in its semi-annual review of the industry’s financial stability.