Page 5 - Latest Updates on Recession
IMF bullish on Indian economy despite signals of global downturn
IMF has shown optimism about the Indian economy, suggesting that real GDP is expected to grow at 6.8 per cent in the current fiscal while in 2023-24 it is estimated to grow at 6.1 per cent
 "IMF bullish on Indian economy despite signals of global downturn")
US hiring stays brisk as employers add 223,000 jobs in Dec: Labor dept
The unemployment rate remained fell to 3.5%, matching a 53-year low, the Labor Department said Friday
 "US hiring stays brisk as employers add 223,000 jobs in Dec: Labor dept")
Software company Pegasystems to lay off 4% workforce amid recession fears
Software company Pegasystems is laying off 4 per cent of its over 6,000-strong workforce, as recession fears loom in 2023
 "Software company Pegasystems to lay off 4% workforce amid recession fears")
Recession will hit a third of world this year, warns IMF chief Georgieva
"We expect one-third of the worwill be in recession this year, the IMF chief has said, and warned that 2023 will be "tougher" than last year as the US, EU and China will see their economies slow down.
 "Recession will hit a third of world this year, warns IMF chief Georgieva")
Not afraid of recession, demand for automation will go up: Verint CEO
Dan Bodner, Verint founder and CEO said that India has been amongst the top two contributors to the Asia-Pacific revenue of the New York-based analytics company and will continue to expand
 "Not afraid of recession, demand for automation will go up: Verint CEO")
World economy is headed for recession in 2023 amid rate hikes: Research
That institution warned in October that more than a third of the world economy will contract and there is a 25% chance of global GDP growing by less than 2% in 2023
 "World economy is headed for recession in 2023 amid rate hikes: Research")
Global economic uncertainties may cast shadow on India's exports in 2023
India's exports may have touched an all-time high of USD 422 bn in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth
 "Global economic uncertainties may cast shadow on India's exports in 2023")
US equity futures falter, a rare December negative for S&P500
As bellwether stocks, Nike and Fedex promise healthy estimates; Micron dampens holiday spirit
 "US equity futures falter, a rare December negative for S&P500")
FPIs pull out a record Rs 1.22 trn from Indian market so far this year
Turn net sellers after 3 years; rising rates, recession fears to blame; Sensex still up 4.8% YTD
 "FPIs pull out a record Rs 1.22 trn from Indian market so far this year")
India to face export shocks from global recession: BFSI economists' panel
While two of the eminent panelists - Ghosh and Nayar - said they expect a pause in the monetary cycle by the MPC, Chakraborty, Sagar, and Kapoor said the MPC could still hike by 25-50 basis points
 "India to face export shocks from global recession: BFSI economists' panel")
India can't afford yet more disruptions to supply chains: Ficci President
'What is most unfortunate is that countries are looking to finance their transition to a green economy by taxing others'
 "India can't afford yet more disruptions to supply chains: Ficci President")
Sustained recession in West, new Covid wave casts a shadow on Budget 2023
India a bright spot but strong headwinds may impact projections, officials say
 "Sustained recession in West, new Covid wave casts a shadow on Budget 2023")
BS BFSI Insight Summit 2022: Leading economists to discuss recession fears
From Aditi Nayar the Chief Economist at ICRA to Mridul Saggar, professor of practice, IIM Kozhikode; formerly MPC Member and RBI ED, here is the full list of economists on BFSI panel
 "BS BFSI Insight Summit 2022: Leading economists to discuss recession fears")
Finnish economy to fall into mild recession in 2023, says central bank
A surge in the cost of living, and the energy crisis exacerbated by the conflict in Ukraine, have accelerated a looming recession, the bank said
 "Finnish economy to fall into mild recession in 2023, says central bank")
Markets extend losses amid recession fears, indices dip second week on trot
Commentary by central banks on their resolve to tame inflation rattles investors, who were hoping that interest rates have peaked
 "Markets extend losses amid recession fears, indices dip second week on trot")
G20 meet: Infra to sustainable finance, global headwinds take centre stage
The ministry and the Reserve Bank of India (RBI) are jointly co-hosting the FCBD meeting
 "G20 meet: Infra to sustainable finance, global headwinds take centre stage")
UK's economy rebounds by 0.5% in Oct but recession fears still loom
The British economy is estimated to have grown by 0.5 per cent between September and October, statistics showed, but a lengthy recession is still expected in the UK
 "UK's economy rebounds by 0.5% in Oct but recession fears still loom")
Signs of global slowdown: Export credit demand shrinks 25% YoY in October
The data released by the Reserve Bank of India (RBI) showed a fall in export credit even though the bank credit saw a robust growth of 18 per cent
 "Signs of global slowdown: Export credit demand shrinks 25% YoY in October")
World debt-GDP ratio plummets, but over pre-Covid level, says IMF
Total debt fell to 247 per cent of global gross domestic product last year, IMF data showed. That's 10 percentage points less than in 2020, but is still the second-highest reading in history
UK braces for 2 yrs of recession as manufacturing sector shrinks by over 4%
The UK's manufacturing sector shrank by more than 4% this year, a survey found, with predictions of another sharp decline in 2023
