GDP

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Japan’s Q3/23 GDP Forecast Slashed to 2.9% Contraction, Impacted by Export and Consumption Slowdown

The Japanese government has revised its Gross Domestic Product (GDP) forecast for the third quarter of 2023, indicating a more significant downturn than initially projected. The latest figures reveal a year-on-year shrinkage of 2.9%, worsening from the initial estimate of a 2.1% contraction. This downward spiral is attributed to weakened consumption within Japan and a …

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Australian Q3 GDP Growth at 0.2%, Dims Probability of Interest Rate Hike in 2023

The Australian Bureau of Statistics (ABS) released a report today indicating a lower-than-anticipated expansion in Gross Domestic Product (GDP) during the third quarter of 2023, predominantly influenced by sluggish exports, particularly to China. In Q3, Australia’s GDP recorded a mere 0.2% quarter-on-quarter growth, falling short of market projections that had estimated a 0.3% expansion. This …

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Switzerland’s Q3/23 GDP Rises by 0.3%, Service Sector Rescues Weaker Manufacturing Growth

Switzerland’s government unveiled positive economic growth in the third quarter of 2023, with Gross Domestic Product (GDP) expanding by 0.3%. This growth was largely buoyed by a robust performance in the service sector, effectively offsetting sluggishness in manufacturing. The adjusted GDP figure for Q3/23 surpassed expectations, rising from the second quarter of 2022 and surpassing …

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United States GDP Surges by 5.2% in Q3/23, Exceeding Expectations

The US Department of Commerce has released an optimistic outlook for the nation’s economic growth in the third quarter of 2023, reporting a robust expansion of 5.2% in gross domestic product (GDP). This notable surge marks the highest growth rate witnessed since the fourth quarter of 2021. This updated estimation surpasses both the initial forecast …

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Thailand’s MPC Holds Interest Rates Steady at 2.50%, Revises 2023 GDP Forecast Down to 2.4%

In a unanimous decision, Thailand’s Monetary Policy Committee (MPC) has opted to maintain the policy interest rate at 2.50% per annum, signaling an optimistic outlook for the country’s overall economic recovery. While acknowledging an anticipated deceleration in the export sector and related production, the MPC foresees a more balanced expansion in the Thai economy for …

Thailand’s MPC Holds Interest Rates Steady at 2.50%, Revises 2023 GDP Forecast Down to 2.4% Read More »

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Germany Reports 0.1% Quarter-on-Quarter GDP Contraction in Q3/23 Following Sluggish Economic Start

Germany’s Statistical Office revealed that the Gross Domestic Product (GDP) for the third quarter of 2023 experienced a 0.1% contraction quarter-on-quarter, aligning with initial estimations and highlighting ongoing economic challenges. Ruth Brand, Head of the German Statistical Office, acknowledged the nation’s economic struggle, stating, “Following the lackluster performance in the initial half of 2023, the …

Germany Reports 0.1% Quarter-on-Quarter GDP Contraction in Q3/23 Following Sluggish Economic Start Read More »

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JPMorgan Upgrades UK GDP Projection for 2024 Following Tax Cut Announcements

JPMorgan, a prominent financial institution, has revised its growth forecast for the British economy in 2024, elevating it to 0.4% from the prior estimate of 0.2%. This adjustment came in response to British Treasury Secretary Jeremy Hunt’s recent announcement outlining comprehensive tax reduction measures aimed at stimulating domestic economic growth. Addressing the House of Commons …

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Singapore Surpasses Expectations: 3rd Quarter GDP Expands by 1.4%

Singapore’s Ministry of Trade and Industry announced today that the Gross Domestic Product (GDP) for the third quarter of 2023 surged by 1.4% on a quarterly basis, surpassing initial estimations of 1% growth and outstripping analysts’ predictions of a 1.1% upturn. These figures affirm the resilience of the Singaporean economy as it continues its path …

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Thailand’s Q3/66 GDP Growth at 1.5% Below Market Forecasts as Exports Contract

Thailand’s economic growth in the third quarter of 2023 expanded by 1.5%, according to the Office of the National Economic and Social Development Council (NESDB). This figure fell below market expectations, which anticipated growth in the range of 2.0-2.2%. The subdued growth marks a deceleration from the 1.8% expansion witnessed in the second quarter of …

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Japan’s Q3/23 GDP Shrinks by 2.1%, Underperforming Expectations; Business Sector Trims Spending

Japan’s economic landscape faced a significant setback in the third quarter of 2023 as the government unveiled a disheartening 2.1% year-on-year contraction in Gross Domestic Product (GDP). This figure starkly deviated from analysts’ projections, which had estimated a milder 0.6% decline, marking the first downturn in four consecutive quarters. On a quarterly basis, Japan’s GDP …

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