Business Insider (February 16)
“The US economy managed to shake off Wall Street’s gloomy forecasts and dodge a long-predicted slump last year — but the same can’t be said for two other members of the G7.” Both the UK and Japan entered technical recessions based on data released Thursday showing each nation’s GDP fell during both of the two last quarters in 2023.
Tags: 2023, Economy, Fell, Forecasts, G7, GDP, Japan, Predicted, Slump, Technical recessions, U.S., UK, Wall Street
Wall Street Journal (January 30)
“Logistics technology companies are cutting costs and slashing staff as a prolonged slump in freight stretches into 2024.” After soaring to “huge valuations during the Covid pandemic when a wave of consumer spending pushed freight volumes and shipping rates to record levels,” high interest rates and weak freight volumes are now “stretching some companies to their limit.”
Tags: Companies, Consumer spending, Costs, Covid, Freight volumes, Logistics, Pandemic, Prolonged, Shipping rates, Slashing, Slump, Staff, Technology, Valuations
Washington Post (January 25)
“The nation’s economy was supposed to have sunk into recession by now, dragged down by the highest interest rates in two decades and a resulting slump in borrowing and spending. Instead, the U.S. economy has kept chugging along. Even more encouraging, inflation, which touched a four-decade high in 2022, has edged steadily lower without the painful layoffs that most economists had thought would be necessary to slow the acceleration of prices.”
Tags: Acceleration, Borrowing, Economists, Economy, Encouraging, Inflation, Interest rates, Layoffs, Painful, Recession, Slump, Spending, U.S.
BBC (November 3)
“The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years,” indicating that “the UK would face a ‘very challenging’ two-year slump with unemployment nearly doubling by 2025.” The BoE’s forecast paints “a picture of a painful economic period, with the UK performing worse than the US and the Eurozone.”
Tags: 2025, BOE, Challenging, Doubling, Forecast, Interest rates, Longest, Painful, Recession, Records, Slump, U.S., UK, Unemployment, Warned, Worse
Barron’s (July 24)
“China’s property slump and suffering economy is leading some to wonder if China could be on the brink of its own Lehman-style crisis. While the troubles facing China’s economy are substantial, it’s unlikely to push China into the type of meltdown that sends the country’s financial system into a tailspin.”
Tags: China, Crisis, Economy, Financial system, Lehman-style, Meltdown, Property, Slump, Suffering, Tailspin, Troubles
Bloomberg (April 16)
“China’s economy soared in the first quarter as consumer spending strengthened, joining production and investment in recovering from the Covid slump a year ago.” Year on year, GDP “climbed a record 18.3%,” but that is “skewed by comparisons from a year ago when the economy was in lockdown. A better reading of the economy’s momentum comes from quarter-on-quarter growth, which slowed to 0.6% from 2.6% in the previous three months.”
Tags: China, Consumer spending, Covid, Economy, GDP, Investment, Lockdown, Momentum, Production, Record, Recovering, Skewed, Slump, Strengthened
Bloomberg (November 11)
“There are reasons to suspect that all the hand-wringing about China pulling down the rest of the world may be a tad overdone. Just as the country’s slump is producing obvious losers…it’s producing winners as well.” They “will help the world withstand a protracted period of sub-par performance by China,” much as the world did “when Japan’s economy downshifted dramatically in the 1990s.”
Tags: China, Economy, Hand-wringing, Japan, Losers, Performance, Slump, Winners, World
Institutional Investor (May 5)
“The long-lasting oil price slump is reverberating through macroeconomic data points and this earnings season.” Oil and gas exploration companies are getting hammered. And “the impact of lower investment and employment in the energy sector was also reflected in disappointing first-quarter U.S. GDP data.”
Tags: Earnings, Employment, Energy, Exploration, GDP, Investment, Macroeconomic, Oil price, Reverberating, Slump, U.S.
Washington Post (April 8)
A recent study from the International Monetary Fund (IMF) “confirms that the investment bust is a global phenomenon. It’s not just the United States but also Europe, Japan and most advanced countries. As important, the main cause of the investment slump is clear-cut: Businesses aren’t expanding because they can already meet most demand with existing capacity.”
Tags: Businesses, Demand, Europe, Existing capacity, Expanding, IMF, Investment, Japan, Slump, U.S.
Institutional Investor (March 2)
“OPEC members with little foreign currency reserves or alternate sources of income have been struggling to keep afloat during the global slump in oil prices.”
Tags: Foreign currency reserves, Income, Oil prices, OPEC, Slump, Struggling
