Page 5 - Recession

Global economy may be entering a difficult era and economists are worried

The warnings of longer-term trouble come as investors are growing somewhat more hopeful of the Federal Reserve's ability to rein in sky-high inflation without causing a recession

Indian startups brace themselves for deepening funding winter in 2023

Indian startups, which saw a massive 35 per cent drop in funding in 2022 -- from $37.2 bn in 2021 to $24.7-- are bracing themselves for a deepening funding winter in 2023 as recession fears loom

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

US hiring stays brisk as employers add 223,000 jobs in Dec: Labor dept

America's employers added a solid 223,000 jobs in December, evidence that the economy remains healthy yet also a sign that the Federal Reserve may have to raise interest rates more aggressively to slow growth and cool inflation. The December job growth, though a decent gain, amounted to the lowest monthly increase in two years. The unemployment rate remained fell to 3.5%, matching a 53-year low, the Labor Department said Friday. Last month's job growth capped a second straight year of robust hiring during which the nation regained all 22 million jobs it lost to the COVID-19 pandemic. Yet the rapid hiring and the hefty pay raises that accompanied it likely contributed to a spike in prices that catapulted inflation to its highest level in 40 years. The picture for 2023 is much cloudier. Many economists foresee a recession in the second half of the year, a consequence of the Fed's succession of sharp rate hikes. The central bank's officials have projected that those increases will

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

Recession will hit a third of world this year, warns IMF chief Georgieva

A third of the global economy will 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. Kristalina Georgieva, the chief of the International Monetary Fund (IMF) made these grim assertions on Sunday during a CBS news programme "Face the Nation." It comes at a time when the ongoing conflict in Ukraine shows no signs of abating after more than 10 months, with spiralling inflation, higher interest rates and the surge in coronavirus infections in China fuelled by the Omicron variant. "We expect one-third of the world economy to be in recession," Georgieva said on the news programme. The year 2023 will be tougher than last year because the economies of the US, the EU and China will slow down, she said. "Even in countries that are not in recession, it would feel like a recession for hundreds of millions of people," she explained. In October last year, the IMF trimmed its growt

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

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

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 billion 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 of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US. Before the COVID-hit global economies could come out of the woods, the outbreak of the Russia-Ukraine war in February severely disrupted the supply chains worldwide and hardened the global commodities prices. The war has also impacted the movement of goods through the important black sea route. Taking note of worsening geopolitical situation, the World Trade Organization (WTO) has projected that the global trade would g

US equity futures falter, a rare December negative for S&P500

As bellwether stocks, Nike and Fedex promise healthy estimates; Micron dampens holiday spirit

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

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 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'

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

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

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

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

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

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

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