US consumer spending rebounds, but high inflation eroding demand

Consumer spending increases 0.4% in August Personal income rises 0.3%; saving rate steady at 3.5% Core PCE price index jumps 0.6%; up 4.9% year-on-year WASHINGTON, Sept 30 (Reuters) – US consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing … Read more

Bank of England won’t make emergency rate hike but will go big on Nov 3

Economists lift peak UK rates forecast after market chaos Median forecast for 75 bps rate hike on Nov 3 BoE intervenes in UK bond markets to restore order LONDON, Sept 30 (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plunge in sterling … Read more

French inflation unexpectedly pulls back again in September

PARIS, Sept 30 (Reuters) – French inflation slowed unexpectedly for a second month running in September, bucking the trend in neighboring Germany and the wider euro zone, helped by decelerating increases in prices of energy and services, data showed on Friday. The INSEE national statistics agency said France’s EU-harmonised rate of annual inflation fell to … Read more

Investors dump global bond and equity funds on recession risks

Sept 30 (Reuters) – Global bond and equity funds witnessed massive outflows in the week ended Sept. 28 as worries about a recession grew, with the US Federal Reserve determined to keep interest rates higher to tame inflation pressure. read more A selloff in British gilts following finance minister Kwasi Kwarteng’s announcement of historic tax … Read more

Weak trend to persist for Nifty, Sensex

Markets are expected to open on a downward spiral on Friday, which will see the introduction of new series (December) at the derivatives segment. Amid global turmoil, domestic markets are likely to see a gap down opening of about 0.75 per cent. However, today’s focus would be on the Reserve Bank of India, which is … Read more

Former Liberal finance minister: ‘Recessions lead to changes in government’ – CBC News

Former Liberal finance minister: ‘Recessions lead to changes in government’CBC News 81 per cent of Canadians concerned about recession occurring in the next three months: BMO Real FinancialBenzinga Canada could enter a recession in the first quarter of 2023BNN Bloomberg Economist expects ‘pretty severe’ recession in Canada in 2023BNN Bloomberg View Full Coverage on Google … Read more

Wall Street nosedives on mounting economic growth concerns

S&P 500 index back at near two-year lows Airlines, cruises fall on cancellations due to Hurricane Ian CarMax slumps on missing second-quarter expectations Indexes down: Dow 1.54%, S&P 2.15%, Nasdaq 3.05% Sept 29 (Reuters) – Wall Street tumbled on Thursday on worries of a global economic downturn from aggressive central bank policy and fears that … Read more

Green gold: Mexican avocados, beloved in US, fuel multi-billion dollar market

MEXICO CITY, Sept 28 (Reuters) – Hass avocado imports from Mexico, the main ingredient of guacamole – a favorite Super Bowl snack – are now worth $4 billion, up from about $2.5 billion two years ago, according to a new study by Texas A&M University. A person in the United States now eats an average … Read more

S&P Global Ratings, OECD retain India’s GDP growth forecast for FY23

S&P Global Ratings and OECD on Monday retained India’s growth forecast for the current fiscal at 7.3 per cent and 6.9 per cent, respectively. Earlier, the ADB had cut India’s GDP (Gross Domestic Product) growth forecast by 50 basis points to 7 per cent for Fiscal Year 2022-23 while Fitch slashed India’s growth forecast by … Read more

Euro zone likely entering recession as price rises hit demand

Technician Sandra Haege controls a single sheet of a battery cell, as Blackstone company starts production at giga factory for 3d printed batteries in Doebeln, Germany, December 7, 2021. REUTERS/Matthias Rietschel Register now for FREE unlimited access to Register LONDON, Sept 23 (Reuters) – A downturn in business activity across the euro zone deepened … Read more