New Zealand sinks into recession as Q3 GDP dives 1.0% By Reuters
By Wayne Cole SYDNEY (Reuters) – New Zealand’s economy sank into recession in the third quarter as activity dived far more sharply than expected, while the prior quarter was also revised sharply downward, a dire result that cements the case for more aggressive rate cuts. The local dollar extended an overnight rout to hit a […]
New Zealand sinks into recession, more rate cuts coming
SYDNEY (Reuters) -New Zealand’s economy sank into recession in the third quarter as activity dived far more sharply than expected and output in the prior quarter was also slashed, a dire result that cements the case for more aggressive rate cuts. The shock news sent the local dollar to a fresh two-year low of $0.5617, […]
New Zealand Suffers Deeper-Than-Expected Recession; Kiwi Drops
(Bloomberg) — New Zealand’s economy suffered a deeper-than-expected recession in the second and third quarters as high interest rates curbed demand. The local dollar fell. Most Read from Bloomberg Gross domestic product declined 1.0% in the three months through September, Statistics New Zealand said Thursday in Wellington. Economists expected a 0.2% contraction. In the second […]
Massive GDP fall: NZ in deep recession – ‘worst since 1991′
GDP per capita fell 1.2% during the September 2024 quarter. This was the eighth consecutive fall in the series. “The structure of the New Zealand economy can change quickly, which is why we update with new data each year,” macroeconomic growth spokesperson Jason Attewell said. An already weakening New Zealand dollar fell by about a […]
The UK economy has shrunk again – but it’s too soon for Reeves to utter the word ‘recession’…
Instead of growing by 0.2 per cent, as optimistically forecast by the City and the Bank of England, the UK economy shrunk by 0.1 per cent in October for the second month running. Manufacturing was hit the hardest, with a 0.6 per cent contraction recorded, but construction also fell while the dominant services sector flatlined. […]
Will Canada Enter a Recession?
With the unemployment rate rising and the Bank of Canada scrambling to unwind high interest rates, one question is growing in importance: Will the Canadian economy avoid a recession? Some analysts argue that strong population growth and a targeted monetary policy will help avert a recession. Others argue the country is already in a stealth […]
Inflation analysis: Prices rising faster means higher borrowing costs for longer amid recession fears
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails The rise in inflation last month is likely to mean higher borrowing costs for longer. Prices rose at the faster […]
“The Chinese economy is in recession, so we are doing our business very carefully now.”
The apple harvest in the Aomori Prefecture, Japan was complete by the end of November and the apple orchards are already covered with snow. The harvest conditions were not great, but better than last year, according to Hideo Obori from Aomori Trading. “The Aomori Prefectural Government officially announced that the prospective apple production would […]
Donald Trump news: This move by Donald Trump could be worse than the Great Recession, if you are an investor take note
Donald Trump is currently one of the most talked about political entities in the United States, after his massive win in the US Presidential elections 2024. However, as he has finally come to power, his plans of implementing mass deportations is instilling fear in the minds of economists, who are even claiming that there could […]
Another Shock Recession Ahead? – Elliott Wave International
The Great Recession which started in 2007 came as a shock. Hardly anyone expected it. Now, a prominent indicator says you’ll want to prepare for an even worse economic downturn. Our December Elliott Wave Financial Forecast makes the case: The stock market almost always leads the economy. A significant exception took place at the end […]