The New York Fed announced its new GDP tracking and forecasting tool, the FRBNY Nowcast. The tool will use near real-time data to update U.S. economic growth daily, as the Fed will release a report weekly using the tool and data.
Tags: GDP
Poland Inches Into War Footing as It Allots 5% of 2025 GDP on Defense
Polish Foreign Minister Radoslaw Sikorski announced that it was planning to spend 5% of its gross domestic product on defense by 2025.
Narendra Modi's BJP Party Settles with Coalition Government After Winning India's General Election
India’s ruling Bharatiya Janata Party narrowly won the 2024 general elections, forcing it to form a coalition and negotiate some economic policies in the near future.
UK Recovers From Recession With 0.6% GDP Growth
Recent data indicates the UK economy has exited recession with a 0.6% growth in GDP; Prime Minister Rishi Sunak praises the momentum, while the Bank of England maintains interest rates at 5.25%.
US Inflation Surges as GDP Growth Slows to 1.6% in Q1, Below Expectations
The unexpected slowdown in U.S. GDP growth in the first quarter, falling below projections, coupled with concerns about rising inflation, has sparked market downturns and raised potential signals of economic challenges ahead.
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Arun Jaitley, India's Finance Minister, has voiced for a possible interest rate cut ahead of Reserve Bank of India's (RBI) review meeting next week, while focusing on controlling fiscal deficit. The Centre has already slashed interest rate on small savings making more conducive weather for lending rate cut.
The rise in household spending has propelled US economy to grow surpass earlier forecasts for fourth quarter of 2015. However, the US GDP growth rate eased in fourth quarter from previous quarter.
Rating agency ICRA forecasts India's gross domestic product (GDP) growth rate at 7.7 percent for next financial year 2016-17. The rating agency cites reasons for GDP growth rate to the implementation of 7th Pay Commission, OROP recommendations and domestic consumption.
Central bank of Chile has not changed its key interest rate for three months in a row even though it recorded the slowest economy growth rate in six years in January 2016. The inflation rate is alarmingly at 4.7 percent above the two percent target of Chile government.
Scottish First Prime Minister Nicola Sturgeon said in an interview that the country’s economy remains strong even amid challenges that she acknowledges. She expects that the huge deficit would be manageable after separation.
Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
China is targeting seven percent gross domestic product (GDP) growth rate for 2016. The Chinese government is keen on real growth prospects over restructuring exercise this year, while avoiding inflating debt or asset bubbles.
Tech salaries are soaring higher, as last year it more than doubles the average pay in other sectors. It proves that the tech industry remains a major driving force in the U.S. economy with high income and massive job gains across the country.
India's budget allocation for the defense sector fell for the first time in the latest Union Budget-2016. India had been increasing military budget since its war with China 1962. It was notably down to 1.65 percent from 1.74 percent in previous budget.
