The revised figures revealing a contraction of 0.1% in UK GDP between July and October 2023, after previously indicating zero growth, have sparked concerns about the possibility of a recession. This unexpected downturn in economic performance has prompted policymakers, economists, and businesses to reassess the factors contributing to the decline and to formulate strategies to […]
The Marine and Blue Economy has the capacity to contribute more to the nation's Gross Domestic Products, GDP as well as feed about nine million Nigerians by 2025, National President of the National Association of Managing Directors of Licensed Customs Agents, NCMDLCA, Lucky Amiwero, has said. In a letter to President Bola Ahmed Tinubu on the need to exploit the full potential of the Marine and Blue Economy, Amiwero noted that all that is needed is for the Federal Government to work closely with...
For decades, Saudi Arabia has been regarded as the de facto leader of OPEC and a swing-producer critical to curtailing large price overshoots in either direction. Over the past few years, the Arab nation has borne the lion’s share of OPEC production cuts after recently agreeing to cut 1 million barrels per day or nearly half of the group’s 2.2 mb/d in pledged cuts. Well, it appears that Saudi Vision 2030 is already bearing fruit, and Riyadh might not be feeling the pinch from those cuts as much...
Romania allocated 2.5% of GDP to Defense in 2023, but managed to spend only 1.6%, according to a NATO analysis quoted by TVR. With this threshold, Romania is just below the Alliance average of 1.73%. In 2022, at the NATO summit in Madrid, Klaus Iohannis announced that Romania would increase its budget allocated to Defense […]
The Federal Open Market Committee's March projections for rate cuts shows a median Federal funds rate of 4.6% in 2024, versus 5.25%-5.50% today.
In 2023, the gross domestic product (GDP) per capita, measured in purchasing power standards, varied from 64% of the EU average in Bulgaria to 240% in Luxembourg, according to Eurostat last report. In 2023, notable disparities in GDP per capita, measured in purchasing power standards, were observed across EU nations. Luxembourg and Ireland boasted the […]
As countries like Germany, Japan and the UK continue to drop down in GDP (PPP) rankings over the years, India has achieved significant gains in GDP and the country’s share has been significantly increasing, a latest report has revealed.
The Dutch economy grew by 0.4% in the last quarter of 2023, slightly faster than in the initial assessment by the government statistics agency CBS. The CBS also found that GDP contracted by 0.4% compared to the end of 2022, less than previously thought. In both cases the figure was 0.1% higher than the first assessment in mid-February. The agency said higher government spending, particularly by municipalities, was the main reason for the upward revision, but the growth in the
The paper, published by the Behaviour Insights Team (BIT), found that giving consumers clearer information could improve productivity and boost growth.
James Heappey, who has announced he will quit the Government, issued the public demand from the Commons despatch box yesterday.
Arvind Subramanian said that the implied inflation in the GDP numbers is 1% to 1.5%, while the actual inflation is between 3% and 5%.
The Prime Minister is under intense pressure to boost military spending amid the growing security threat posed by nations such as Russia, China and Iran.