Page 19 - Latest Updates on Recession
Sri Lankan Central Bank projects 3.9% economic contraction due to Covid
The Central Bank of Sri Lanka on Monday projected an economic contraction of 3.9 per cent for the financial year 2020 due to the Covid-19 pandemic
 "Sri Lankan Central Bank projects 3.9% economic contraction due to Covid")
Power consumption grows 6.1% in December, official data shows
India's power consumption grew by 6.1 per cent to 107.3 billion units (BU) in December, showing spurt in economic activities, according to official data
 "Power consumption grows 6.1% in December, official data shows")
India's April-November fiscal deficit tops 135% of full-year target
Net tax receipts were 6.88 trillion rupees, while total expenditure came to 19.06 trillion rupees
 "India's April-November fiscal deficit tops 135% of full-year target")
2020 The Year That Was: Creating jobs will be the hardest task in 2021
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs
 "2020 The Year That Was: Creating jobs will be the hardest task in 2021")
Oil drops as new coronavirus strain revives demand fears
Detection of the new strain in the UK prompted several countries to close their borders to it
 "Oil drops as new coronavirus strain revives demand fears")
Covid-induced contraction in creative economy, income loss: Ficci
A new report on the impact of Covid-19 on the creative sector has found that 16 per cent of the creative sector is facing permanent closure now
 "Covid-induced contraction in creative economy, income loss: Ficci")
GDP data: Contraction can be ignored, but pre-Covid declining trend irksome
While the country is now technically in a recession with two successive quarters of negative growth, it should not be worrisome as this is the case across the globe with China being the only exception
 "GDP data: Contraction can be ignored, but pre-Covid declining trend irksome")
Did festival demand revive Indian economy's animal spirits in October?
Demand during the festival season helped boost three of the eight high-frequency indicators
 "Did festival demand revive Indian economy's animal spirits in October?")
With technical recession over, is it all well for Indian economy? Not quite
The trouble is with demand. Firms are protecting operating profit - or preventing losses - by pruning jobs and cutting pay
 "With technical recession over, is it all well for Indian economy? Not quite")
With technical recession over, is it all well for Indian economy? Not quite
The trouble is with demand. Firms are protecting operating profit - or preventing losses - by pruning jobs and cutting pay
 "With technical recession over, is it all well for Indian economy? Not quite")
Govt expands stimulus to 15% of economy, aims to create jobs and help firms
An additional outlay of Rs 180 billion will be made toward an affordable urban housing program
 "Govt expands stimulus to 15% of economy, aims to create jobs and help firms")
India in historic technical recession, RBI signals in first ever nowcast
"India has entered a technical recession in the first half of 2020-21 for the first time in its history," the authors wrote. The government is due to publish official statistics Nov. 27
 "India in historic technical recession, RBI signals in first ever nowcast")
Q2 GDP to shrink 8.6%; India to enter recession for 1st time: RBI official
The pandemic-induced lockdowns had led to a steep contraction of 23.9 per cent in the GDP for the April-June quarter as compared to the same period a year ago
 "Q2 GDP to shrink 8.6%; India to enter recession for 1st time: RBI official")
Indonesia sees first recession in over two decades as coronavirus hits
Indonesia fell into recession for the first time in over two decades in the third quarter as the Covid-19 pandemic battered consumption and business activity
 "Indonesia sees first recession in over two decades as coronavirus hits")
Top headlines: Govt staff to get more pay, Tata chases e-commerce deals
From Tata eyeing stake in e-commerce firms to bolster retail segment to World Bank declaring Covid as a catastrophe, Business Standard Brings you top news of the evening
 "Top headlines: Govt staff to get more pay, Tata chases e-commerce deals")
Worst recession in South Asia; millions falling into poverty: World Bank
India, the region's biggest economy, is likely to see its economy contract by 9.5% this year, the World Bank report said
 "Worst recession in South Asia; millions falling into poverty: World Bank")
Perpetual recession? Recovery in a year? Economists divided on US future
The economy is currently about 11 million jobs below February's level. It took more than four years, until mid-2014, to recover the 8 million jobs lost in the 2007-2009 recession
 "Perpetual recession? Recovery in a year? Economists divided on US future")
Will India's growth potential slip below rates achieved in 1980s and '90s?
The forces causing the growth slowdown and rising inequality were there before Covid-19, and these trends are now getting accentuated, writes T N Ninan
Global Economy: Asian factories shaking off Covid-19 gloom, China shines
Manufacturing activity in China expanded at the fastest clip in nearly a decade in August, as factories ramped up output to meet rebounding demand
 "Global Economy: Asian factories shaking off Covid-19 gloom, China shines")
GDP shrinkage: It wasn't just Covid-19 lockdown that brought us here
GDP shrinkage is the cost of continued virus spread
 "GDP shrinkage: It wasn't just Covid-19 lockdown that brought us here")
