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OECD Sees Limited Growth Pick-Up as Rate Hikes Weigh
Date: June 7, 2023
OECD sees limited growth pick-up as rate hikes weigh By Leigh Thomas PARIS (Reuters) -Global economic growth will pick up only moderately over the next year as the full effects of central bank rate hikes are felt, softening the boost from lower inflation, the OECD said on Wednesday, nudging up its 2023 economic outlook. The...
World Bank Cuts 2024 Global Growth Forecast as Rate Hikes Bite but Lifts 2023 Outlook
Date: June 6, 2023
WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results. Real global GDP is set to climb 2.1% this year, the...
Euro Zone Business Growth Slowed in May as Factories struggled-PMI
Date: June 5, 2023
Euro zone business growth slowed in May as factories struggled-PMI LONDON (Reuters) – Euro zone business activity was shored up last month by the bloc’s dominant services industry offsetting a deepening decline in the manufacturing sector, according to a survey which also showed overall price pressures had abated. HCOB’s final Composite Purchasing Managers’ Index (PMI),...
Irish Domestic Economy Returns to Growth in First Quarter
Date: June 2, 2023
Irish domestic economy returns to growth in first quarter DUBLIN (Reuters) – Ireland’s domestic economy returned to growth in the first three months of the year after a shallow recession, data showed on Friday, and the finance minister said momentum was set to continue as the country hits full employment. Modified domestic demand, the preferred...
Global Factories Struggle for Momentum Amid Patchy Demand
Date: June 1, 2023
Global factories struggle for momentum amid patchy demand By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) -Sluggish global demand deepened the decline in manufacturing activity across Europe and remained a major challenge for many of Asia’s big exporters, business surveys for May showed on Thursday. Purchasing managers’ indexes (PMIs) for the euro zone moved further...
Luigi Wewege Highlights the Economic Resilience of Latin American Giants Amidst High Interest Rates
Date: May 30, 2023
Latin America’s Economic Surge In an unexpected turn of events, Brazil and Mexico, the largest economies in Latin America, reported stronger-than-expected growth. Luigi Wewege is the President of Caye International Bank in Belize. As a well-known figure in the offshore private banking industry, he weighed in on specific recent economic developments. Despite facing the challenges...