Page 17 - Latest Updates on Recession
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")
'The Big Short 2.0': How hedge funds profited off the pain of malls
As the pandemic accelerated the demise of some brick-and-mortar retailers, a group of investors profited handsomely from their travails
 "'The Big Short 2.0': How hedge funds profited off the pain of malls")
World Coronavirus Dispatch: US banks consider layoffs as recession sticks
As executives prepare for an extended recession and loan losses that come with it, layoffs are back on the table, said consultants, industry insiders and compensation analysts
 "World Coronavirus Dispatch: US banks consider layoffs as recession sticks")
India Coronavirus Dispatch: The 'weekend effect' of RT-PCR testing
The story of a heroic migrant, UP' share in national testing rises, and how the world's two largest democracies fared--a roundup of news on how India is dealing with the pandemic
 "India Coronavirus Dispatch: The 'weekend effect' of RT-PCR testing")
Full recovery from euro zone's recession will take two years or more: Poll
About 85% of economists in the poll said the risk the job recovery reverses by year-end was high
 "Full recovery from euro zone's recession will take two years or more: Poll")
Covid-19: Britain enters recession as GDP tumbles 20.4%, worst in Europe
Brace for more job losses, says Sunak
 "Covid-19: Britain enters recession as GDP tumbles 20.4%, worst in Europe")
World Coronavirus Dispatch: 90% spike in infections among American kids
UK's first recession since 2009, France's champagne industry goes flat, How China controlled Coronavirus, and other pandemic-related news across the globe
 "World Coronavirus Dispatch: 90% spike in infections among American kids")
Hard times here, jobs will be lost, says Sunak as UK plunges into recession
It marks the first time in 11 years that the UK has tipped into a recession, which is defined by two consecutive three-month periods of falling GDP
 "Hard times here, jobs will be lost, says Sunak as UK plunges into recession")
Argentina says it struck deal with creditors over $65 billion debt
Argentina said it would extend the original deadline of Tuesday for reaching a deal to August 24 to finalise it
 "Argentina says it struck deal with creditors over $65 billion debt")
Expectations worsen for Europe's Q2 earnings season over recession fears
Expectations for second-quarter corporate profits have deteriorated in Europe, according to Refinitiv data, as fears grow over the extent of the recession triggered by the coronavirus pandemic
 "Expectations worsen for Europe's Q2 earnings season over recession fears")
European Central Bank survey points to shallower recession, strong rebound
The euro zone economy may contract less this year than the European Central Bank had forecast and its recovery could also be quicker, the bank's Survey of Professional Forecasters showed
 "European Central Bank survey points to shallower recession, strong rebound")
Ben Bernanke writes: US has to help it states for economic recovery
Congress must act decisively to avoid repeating mistakes of the recovery from the Great Recession, writes former chairman of the Federal Reserve
 "Ben Bernanke writes: US has to help it states for economic recovery")
Singapore economy enters recession, second-quarter GDP plunges record 41.2%
On a year-on year basis, gross domestic product (GDP) plummeted 12.6 per cent, preliminary data from the Ministry of Trade and Industry showed on Tuesday. Economists had forecast a 10.5% contraction
 "Singapore economy enters recession, second-quarter GDP plunges record 41.2%")
Way to go
It is important that banks and NBFCs work together in the co-lending domain to ensure economic revival
Covid hits Australia's golden economy, country faces rocky road to recovery
The unemployment rate for females looking for full-time work surged to 8.3% in May from 5.4% in February before coronavirus-driven shutdowns kicked in
 "Covid hits Australia's golden economy, country faces rocky road to recovery")
Legacy of coronavirus will be weak global inflation, say economists
Beyond being a symptom of recession, weak price growth or outright deflation also creates more headaches for the world's biggest central banks
 "Legacy of coronavirus will be weak global inflation, say economists")
