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Friday, March 29, 2024
TopicRecession

Topic: Recession

Indonesia slips to first recession in 22 years amid Covid outbreak

Indonesia's GDP shrank 3.49% from a year ago, but officials saw hope in the fact that the contraction was narrowing. Finance Minister Sri Mulyani Indrawati said the worst is over.

Global economic recovery is slowing from a bounce to a crawl

The accelerating spread of Covid across the world and the absence of a vaccine are further damping hopes of a V-shaped recovery.

Now, Australia’s GDP falls by most on record, confirms first recession in 30 years

Australia's GDP plunged 7% from first three months of the year, the first back-to-back quarterly declines since 1991, statistics bureau data showed.

Early signs of India’s economic recovery begin to wane as Covid cases surge

Latest data shows mobility suffered & high-frequency indicators from purchasing managers’ surveys to fuel sales growth plateauing in July.

This recession is different & India can bounce back much faster than in the past

The recession this time isn’t driven by inherent weakness in economies or factors like oil shocks. It’s also synchronous. This could quicken India’s recovery.

With US formally in recession, Trump’s 2020 re-election path has become trickier

The declaration of recession comes amid polls that show Trump’s standing slipping, as US reels from the pandemic, its economic impact & racial justice protests.

India to see recession due to worsening consumption, investment demand: Monetary policy panel

Michael Patra, RBI deputy governor and a member of the panel, said the ‘damage is so deep’ that India’s potential output has been pushed down, and it will take years to repair.

Rishi Sunak warns UK is headed into ‘severe recession’ unprecedented in scale

The Bank of England has predicted that a three-month lockdown could lead to a 14% slump this year — the deepest recession since the early 18th century.

Boris Johnson put to the test as UK economy records largest monthly contraction

Chancellor of the Exchequer Rishi Sunak warned Wednesday that the country faces a significant recession after GDP fell almost 6% in March.

Can Modi govt ask companies not to sack workers due to Covid crisis or should firms decide?

PM Modi has appealed to the industry leaders to be compassionate and not sack employees as he extended the nationwide lockdown until 3 May.

On Camera

Oka to Nagarathna—Bombay High Court judges taking up the cudgel when faith in courts eroding

When lynching, hate speech and bulldozer politics do not speedily invite the wrath of courts, then something is wrong with the third pillar of governance.

Congress attacks chief economic advisor over statement on unemployment, asks BJP govt to ‘vacate seat’

While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.

Amid plans to lift AFSPA, Army starts joint training with Jammu & Kashmir Police

In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.

For BJP, Kejriwal is an idea whose time has come to be destroyed

The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.