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FinancePredicting Recession: Forward Looking Recession Forecast Based on Real Time Variables
Top StoriesUK Economy Still Below Pre-Pandemic Size, Underscoring Challenge for Truss
Top StoriesUK Minister Says Government Will Work With Obr on Economic Forecasts
Moody’s Flags Oct 21 as Crucial Date for UK Rating
Date: September 30, 2022
By Marc Jones LONDON (Reuters) – Moody’s top European analyst has flagged Oct. 21 as the next crucial date for Britain’s credit rating following the firm’s negative assessment this week of the government’s new debt-fuelled spending plans. Rating firms set out when they intend to review European governments’ creditworthiness before the start of each year...
UK’s Kwarteng: Mini Budget Was Essential in Resetting Debate Around Growth
Date: September 30, 2022
LONDON (Reuters) – The British government’s so-called mini budget was essential in helping reset the debate around growth, finance minister Kwasi Kwarteng said on Thursday, after nearly a week of chaos in financial markets triggered by its huge tax cuts. “The mini budget was absolutely essential in resetting the debate around growth and focusing us...
Dollar Dishes the Pain as Selloff Rumbles On
Date: September 29, 2022
By Marc Jones LONDON (Reuters) – Investors pedalled into another cycle of selling on Thursday as the dollar tightened its stranglehold on currency markets, recession fears sapped equities and bonds suffered more interest rate pain. Europe’s morning was rough. The STOXX 600 share index was still down 1.3% having opened 2% lower, Wall Street looked...
Italy Slashes 2023 Growth Forecast but Sees Public Finances Improving
Date: September 28, 2022
By Giuseppe Fonte and Gavin Jones ROME (Reuters) – Mario Draghi’s outgoing Italian government on Wednesday slashed next year’s economic growth forecast to 0.6% due to sky-high energy costs but said strong revenues would still ensure an improvement in public finances. Gross domestic product in the euro zone’s third largest economy will “decline slightly” over...
Inflation Weighs on Consumer Morale in Euro Zone’s Big Three Economies
Date: September 28, 2022
BERLIN (Reuters) -Consumer morale was down across the euro zone’s three largest economies as high inflation shows no sign of relenting heading into winter, according to surveys on Wednesday. German consumer morale is projected to hit a new record low for the fourth consecutive month heading into October, according to the GfK institute, which said...
Ireland Dips Into Budget Surplus to Ease Cost of Living Squeeze
Date: September 27, 2022
By Padraic Halpin and Conor Humphries DUBLIN (Reuters) -Ireland dipped into one of Europe’s few budget surpluses to fund higher-than-usual spending hikes and tax cuts, ease energy costs for firms and consumers and set cash aside in a budget it said was in sharp contrast to neighbouring Britain’s economic plans. Finance Minister Paschal Donohoe said...