Global economy going into recession, 2023 growth to slow
The World Bank slashed its global growth forecasts from projections it made in mid-2022 on the back of what it sees as broadly worsening economic conditions.The international development institution downgraded almost all of its forecasts for advanced economies in the world, cutting its growth outlook for the global economy to 1.7% for 2023, it said […]
Gold trades near 8-month high and analysts expect its rise to continue
Gold bars are displayed at a bullion merchant’s, Baird & Co., in London, U.K., on Friday, March 14, 2008.Graham Barclay | Bloomberg | Getty ImagesLONDON — Gold traded near an 8-month high Tuesday as the precious metal’s strong start to 2023 continued, buoyed by lower yields and a weaker dollar.Spot gold hit $1,881.5 per troy […]
December’s jobs report fuels optimism that the economy could still pull off a soft landing
A “Now hiring” sign is displayed on the window of an IN-N-OUT fast food restaurant in Encinitas, California, May 9, 2022.Mike Blake | ReutersDecember’s strong job growth combined with slowing wage inflation is fueling optimism that the economy might just see a soft landing.But economists disagree on whether that will be the case, given that […]
Job growth expected to have cooled in December but not enough to slow Fed rate hikes
The economy is expected to have added 200,000 jobs in December, less than November, but still strong enough to keep the Federal Reserve aggressively tightening policy to fight inflation.Economists surveyed by Dow Jones also expect that the unemployment rate remained at 3.7% in December, while average hourly wage growth slowed to 0.4% from 0.6% in […]
Dow closes 300 points lower after strong jobs data signals more rate hikes
Stocks fell Thursday after jobs data showed the labor market is still strong despite the Federal Reserve’s interest rate hikes to tame inflation.The Dow Jones Industrial Average fell 339.69 points, or 1.02%, to 32,930.08. It was weighed down by Walgreens, which lost 6.13% after earnings showed a $5.2 billion opioid litigation settlement drove a quarterly […]
Why everyone thinks a recession is coming in 2023
People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020.Nick Oxford | File Photo | REUTERSRecessions often take everyone by surprise. There’s a very good chance the next one will not.Economists have […]