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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…
The Eurozone’s economy probably contracted again in 2023’s fourth quarter after shrinking in the third, Luis de Guindos, vice-president of the European Central Bank (ECB), said in a 10 January speech.
In 2023, the global number of business bankruptcies surpassed the level reached in 2008 during the Great Recession.
In October, for the fifth consecutive month, Germany’s factories reduced their output. Production fell 0.4 percent below September’s, which fell 1.3 percent from August.
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.
As we had forecast when the European Central Bank began raising interest rates in July 2022, the EU would sink into recession. The Eurozone’s economy contracted by 0.1 percent in this year’s third quarter.
Peru’s economy shrank by 1.29 percent in October, year over year, marking the third consecutive quarter of contraction. October’s slide proved worse than all nine forecasts that had been made, which had foreseen a median 0.6-percent decline.
The Danish economy contracted by 0.3 percent in each of the last two quarters, according to Statistics Denmark.
U.S. inflation is not yet tamed and the U.S. Federal Reserve is more likely to raise interest rates than cut them if any change is needed, Fed chair Jerome Powell said in a 9 November speech to a conference of the International Monetary Fund.
U.S. retailers plan to hire the smallest number of seasonal workers since 2008 because of higher labor costs and uncertainty over consumers’ holiday spending, according to a report by outplacement firm Challenger, Gray & Christmas (CGC) obtained by Reuters.
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