Page 8 - Latest Updates on Recession
World Bank warns of global recession in 2023 amid economic slowdown
Interest rate hikes by central banks around the world could trigger a global recession in 2023, the World Bank has warned, media reports said.
 "World Bank warns of global recession in 2023 amid economic slowdown")
World Bank sees rising risk of global recession in 2023 amid rate hikes
Synchronised interest rate hikes under way globally are likely to continue well into 2023, but might not be sufficient to bring inflation back down to levels seen before the pandemic, the bank said
 "World Bank sees rising risk of global recession in 2023 amid rate hikes")
UK unemployment hits lowest since 1974 but jobs boom is fading
However, the fall was not a sign of health in Britain's economy which is at risk of a recession
 "UK unemployment hits lowest since 1974 but jobs boom is fading")
Global economy may avoid recession as inflation risks ease - JP Morgan
The global economy could avert a recession as data points to a potential soft landing, JP Morgan analysts said, while adding that the Federal Reserve might have "over-reacted" with the 75 basis point
 "Global economy may avoid recession as inflation risks ease - JP Morgan")
A soft landing is a more likely scenario for the global economy: JPMorgan
"Economic data and investor positioning are more important factors for risky asset performance than central bank rhetoric," the strategists wrote. "We maintain a pro-risk stance"
 "A soft landing is a more likely scenario for the global economy: JPMorgan")
An $83 billion investor stampede shows scale of Europe's woes
Europe's woes have grown particularly acute in recent months as the region stares down the threat of a recession just as its central bank embarks on an aggressive campaign to tame inflation
 "An $83 billion investor stampede shows scale of Europe's woes")
European Central Bank to join US Fed in rate hikes amid record inflation
The European Central Bank is set to join the U.S. Federal Reserve in making a jumbo interest rate hike Thursday as it tries to stamp out record inflation although it risks worsening a recession
 "European Central Bank to join US Fed in rate hikes amid record inflation")
Germany heading for recession, warns Deutsche Bank CEO Christian Sewing
"The longer inflation remains high, the greater the strain and the higher the potential for social conflict," Sewing said.
 "Germany heading for recession, warns Deutsche Bank CEO Christian Sewing")
OPEC+ faces output dilemma amid concerns of a global economic slowdown
Recent gyrations, including a drop of more than 20% in Brent crude since early June, have prompted Riyadh to say an output cut could be necessary
 "OPEC+ faces output dilemma amid concerns of a global economic slowdown")
World stocks fall and oil prices slide on rate and recession fears
Wall Street struggled to hang on to early gains while European shares deepened losses, hobbled by worries that tightening monetary policy around the world will hurt demand
 "World stocks fall and oil prices slide on rate and recession fears")
Oil prices fall 3% on recession fears; China factory data disappoints
Brent crude futures for October, due to expire on Wednesday, were down $3.56 at $95.75 a barrel following Tuesday's $5.78 loss
 "Oil prices fall 3% on recession fears; China factory data disappoints")
Buy commodities, worry about recession later, says Goldman Sachs
Goldman Sachs did caution the path ahead may not be smooth, especially if the greenback extends gains
 "Buy commodities, worry about recession later, says Goldman Sachs")
World stocks and bonds slump; US dollar hot as rate fever takes hold
World stocks slumped as the growing risk of more aggressive interest rate hikes in the US and Europe inflicted fresh pain on bond markets and pushed the dollar to new 20-year highs
 "World stocks and bonds slump; US dollar hot as rate fever takes hold")
Foreigners return to Indian equities on hopes of stronger earnings
According to stock exchange data, foreigners have invested $6.4 billion in Indian equities since the start of July, after dumping over $27 billion-worth over the previous six months.
 "Foreigners return to Indian equities on hopes of stronger earnings")
Euro slumps to two-decade lows against dollar as energy crisis bites
China's yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020.
 "Euro slumps to two-decade lows against dollar as energy crisis bites")
Germany leads as Europe slides towards recession amid supply shortages
Purchasing managers' indexes due Tuesday will likely show private-sector output shrinking for a second month, adding to signs that a recession in the 19-nation euro zone is now more likely than not
 "Germany leads as Europe slides towards recession amid supply shortages")
Oil prices down 1.5% for the week on recession jitters, strong US dollar
Brent crude futures settled at $96.72 a barrel, gaining 13 cents. U.S. West Texas Intermediate crude ended 27 cents higher at $90.77. Both benchmarks fell about 1.5% on the week
 "Oil prices down 1.5% for the week on recession jitters, strong US dollar")
Oil slips to six-month low as fears over global recession weigh
Oil fell on Wednesday to a 6 month low after a brief respite as concerns about the prospect of recession that would weaken demand overshadowed a report showing lower US crude & gasoline stocks
 "Oil slips to six-month low as fears over global recession weigh")
Oil prices recover from 6-month lows following drop in US stockpiles
Oil prices rose, recovering from 6-month lows, as a larger-than-expected drop in US oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by recession prospects.
 "Oil prices recover from 6-month lows following drop in US stockpiles")
Saudi sovereign wealth fund buys $7-bn US stocks amid recession fears
The $620 billion Public Investment Fund also added to positions it held in Facebook Inc. owner Meta Platforms Inc., PayPal Holdings Inc. and Electronic Arts Inc. in the second quarter
 "Saudi sovereign wealth fund buys $7-bn US stocks amid recession fears")
