#GDP growth
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The Top 10 States by Real GDP Growth in 2023
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"Over the last forty years, every dollar in global GDP growth has seen 46 cents go to the top 10 percent, and only around 9 cents go to the bottom half of humanity."
- Max Lawson, from "The Rich Are the Ones Burning the Planet." Jacobin, 10 October 2022.
#max lawson#quote#quotations#oxfam#climate crisis#climate change#eat the rich#inequality#poverty#economics#gdp growth#capitalism
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We gotta stop trying to guide our economy based on financial metrics - growth is more likely to harm livelihoods than help them at this point
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Top GDP country I Top Economic countries in the World
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^^^ Hey, don’t forget Trump Vitamins! 😝
Anybody who thinks that the GOP is good for the economy probably went to Trump University.
Just sayin’...
As for this month’s biggest economic news, growth is back...
U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive
Don’t fuck things up by voting for Trump Republicans. We’re finally recovering from the way Trump botched the handling of the pandemic and caused everything to tank.
#donald trump#business failure#bankruptcies#trump university#trump casinos#trump vitamins#trump republicans#gop recessions#the economy#republicans are bad for the economy#lauren boebert#gdp growth#election 2022#midterm elections
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Moody's Analytics Outlook: India's Economy Expected to Grow by 6.1% in 2024
Moody's Analytics predicts that India's economy will grow by 6.1% in 2024, which is lower than the 7.7% growth seen in 2023. The country's output is still 4% below where it would have been without the COVID-19 pandemic and its effects, such as supply chain issues and international conflicts.
The report, titled ‘APAC Outlook: Listening Through the Noise,’ states that the Asia Pacific region is performing better than other parts of the world, with an expected growth of 3.8% in 2024 compared to 2.5% for the global economy.
India and Southeast Asia have experienced significant output losses due to the pandemic and are just starting to recover. Inflation in India is around 5%, close to the upper limit of the Reserve Bank of India's target range of 2 to 6%, and there is no clear indication that price pressures are easing.
The Reserve Bank of India has said that uncertainties in food prices continue to affect inflation, and it has maintained its projection of 4.5% retail inflation for the fiscal year 2024-25. Geopolitical tensions could also increase commodity prices and disrupt supply chains. The RBI predicts inflation of 4.9% in the June quarter and 3.8% in the September quarter. For the December and March quarters, inflation is expected to be 4.6% and 4.7%, respectively.
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Deep Dive: UK economy shows signs of rebound but long-term growth outlook remains 'unspectacular'
Following a 0.2% increase in monthly GDP for January, today’s (22 March) UK retail sales figures showed a flatlining in consumer goods purchases last month, contrasting with economist expectations of a 0.4% decline.
According to Robert Wood, chief UK economist at Pantheon Macroeconomics, retail sales volumes are on track to rebound strongly in the first quarter, helping the economy to “leave last…
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#Abhi Chatterjee#Charles Stanley#Daniele Antonucci#dynamic planner#GDP growth#Hugh Gimber#JPMorgan Asset Management#Patrick Farrell#Quintet Private Bank#UK economy#UK GDP
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Japan narrowly avoided technical recession
Japan narrowly avoided a technical recession in the second half of 2023, data showed on Monday, but economists stated that performance remained declining, according to Asian media.
The Cabinet Office reported that gross domestic product (GDP) increased by 0.1 per cent between October and December compared to the previous three months. This reversed a preliminary estimate of a 0.1 per cent economic contraction following negative growth of 0.8 per cent in the third quarter.
A technical recession is usually defined as a fall in GDP over two consecutive quarters.
Read more HERE
#world news#world politics#news#japan#japan news#japanese news#japanese#gdp#gdp growth#economy#recession
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Real GDP growth in Europe 2023
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PM Modi’s post praises the strength, and potential of the Indian Economy after GDP growth
On Thursday, Prime Minister Narendra Modi, posted on social media website X about the recent government data showing India’s economy growing by 8.4% in the December quarter.
“Robust 8.4% GDP growth in Q3 2023-24 shows the strength of the Indian economy and its potential. Our efforts will continue to bring fast economic growth which shall help 140 crore Indians lead a better life and create a Viksit Bharat!” the PM’s post read.
As per the latest government data, India’s GDP grew by 8.4 percent in the October-December quarter in 2023 as compared to 4.3 percent in the October-December quarter in 2022. This derivation is made based on the data released by the National Statistical Office (NSO).
The biggest contributor to this has been the manufacturing sector's output which increased the third quarter of this fiscal by 11.6% which was a straight contradiction of 4.8 per cent in the year-ago period.
"Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated to attain a level of ₹172.90 lakh crore, against the first revised estimates of GDP for the year 2022-23 of ₹160.71 lakh crore. The growth rate of GDP during 2023-24 is estimated at 7.6 percent compared to the growth rate of 7.0 percent in 2022-23," the government statement read.
The GDP of the quarter 2023-24 at the current prices is estimated at ₹75.49 lakh crore compared to ₹68.58 lakh crore in Q3 of 2022-23. The overall growth is calculated at 10.1 percent.
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#werindia#leading india news source#top news stories#top news headlines#national news#latest national news#top news of the day#business news india#india business news#gdp growth
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Major Challenges for the US Economy in 2024
Bye Bye 2023. Welcome, 2024! Fear of the Recession was always there in 2023. However, 2023 happened to be one of the Best of the Year for the economy. As the U.S. Economy witnessed robust economic growth, with inflation slowly moving towards the Federal Reserve’s target, Employment was strong, consumption expenditure acted as a savior for the economy as a whole. In other words, the economy showed…
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#2024 challenges#economic outlook#Federal Reserve#fiscal policy#GDP Growth#geopolitical tensions#interest rates#Labor Market#US Economy
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Purchasing power
In several discussions online and in person about money, credit, taxation, spending, and economic policy in general there is a common use of overloaded, not well defined terms like "money" in particular, but also the rest of the above.
As to topics like distribution of income and relatedly inflation, money, credit, I have found that they become a lot clearer if one talks of purchasing power instead, at least in a political economy where many or most goods and services are commodities traded in markets, instead of being self-produced.
Purchasing power is what after all most people care about: they want income, money, credit, wealth, etc. in order to buy things, that is they want purchasing power, whichever form it assumes.
When a Real American says something like "I wish to make money fast" or "I always hustle to make money" what they really mean is that they want more purchasing power, usually they don't want to just accumulate bigger numbers in a bank account or more banknotes or coin in a vault (even if some do because to them that is a way to keep score).
So a large part if not most or all of the study of the political economy is to figure purchasing power and there are two large subtopics:
How purchasing power per person increases, that is how productivity increases (the development problem).
Who gets which slice of existing purchasing power, and how they get it (the distribution question).
So when reading economic or political news or discussions, the two most prominent questions are:
In the long term how does this affect the amount of purchasing power per person?
In the short term how does affect whom gets more or less purchasing power?
Note: an often forgotten distinction is that between GDI ("Gross Domestic Income") and GDP ("Gross Domestic Product"): GDI (expressed usually in currency terms) is in effect the total purchasing power in a state, and GDP (which also for this reason should be expressed in physical terms) is what can be bought with that purchasing power (plus net imports).
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Signs of Recession
In the complex world of economics, recessions are inevitable yet challenging events that can have far-reaching consequences on individuals, businesses, and entire nations.
Recognizing the signs of an impending recession is crucial for making informed decisions and mitigating potential risks.
In this blog post, we will delve into the key indicators and signals that economists and policymakers…
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#Business investment#Consumer debt#Consumer spending#Economic cycle#Economic downturn#Economic health#Economic Indicators#Financial Markets#GDP growth#Housing market#Investor sentiment#Mitigating risks#Proactive measures#Recession#Recovery#Resilient future#Stock market performance#Unemployment rates#Yield curve#Yield curve inversion
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India's 7.7% GDP Growth During April-September is Reflection of Reforms In Last 10 Years: PM Modi - News18
Prime Minister Narendra Modi. (File Photo)
The entire world has pinned its hopes on India, and this did not happen just on its own; this is a reflection of India’s strengthening economy and also the transformative reforms carried out in the last 10 years, says PM Modi
Prime Minister Narendra Modi on Saturday said India’s GDP growth of 7.7 per cent during April-September 2023 is a reflection of…
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Poland can expect further GDP growth in 2024, experts say
Economists at the Polish Economic Institute (PIE) said that Poland’s growth rate will exceed 2% in the coming quarters, largely fuelled by an increase in consumer spending by the population.
According to a preliminary estimate released by the Central Statistical Office (GUS) on Thursday, Poland’s gross domestic product (GDP) grew by 1.0 per cent year-on-year in the fourth quarter, slightly better than the 0.5 per cent growth seen in the third quarter of 2023. The figure is in line with an earlier “flash estimate” provided by GUS.
Growth is expected to be around 2.2 per cent in the first quarter of 2024, helped by a recovery in consumer spending and the low base of the previous year.
Read more HERE
#world news#world politics#news#europe#european news#european union#eu politics#eu news#poland#poland news#polish politics#economic growth#economy#gdp#gdp growth
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