GDP

The U.S. economy shrank in the first three months of the year, and faces threats from high inflation and rising interest rates, yet economists foresee a return to growth for the rest of 2022 based on the strength of the job market and consumer spending.

Covid-19 pushed 4.7 million people in Southeast Asia into extreme poverty last year and erased 9.3 million jobs, the Asian Development Bank said.

Weekly jobless claims came in slightly less than expected last week and economic growth to end 2021 was slightly better than originally reported.

Economists expect infrastructure push to be one of the key themes of Tuesday’s budget amid signs that investment demand might finally be picking up.

Gross domestic product accelerated at a 6.9% annualized pace in the fourth quarter, well ahead of the 5.5% estimate.

The economic costs of China’s zero-Covid policy is increasingly expected to outweigh its benefits, according to investment bank Morgan Stanley.

Many of the small island states nestled in the Pacific Ocean have had no new cases of the virus for months.

Gross domestic product grew 8.4% between July and September — India’s fiscal second quarter — from a year ago, government data showed.

Initial jobless claims totaled 199,000 last week, the lowest since 1969, easily beating Dow Jones estimates for 260,000.

Pakistan’s economy is still teetering on the brink of crisis — the country faces record inflation that is pushing the price of daily commodities higher.

The Ministry of Trade and Industry said the Singapore economy is expected to grow by around 7% in 2021 — the top of its previous forecast range of 6% to 7%.

The U.S. economy grew at a 2% rate in the third quarter, its slowest gain of the pandemic-era recovery.

When the Commerce Department releases its GDP estimate, it likely will show an increase of just 2.8%.

China has not made enough progress to transition to a consumption-led economy, said Leland Miller, chief executive of research firm China Beige Book.

Afghanistan’s gross domestic product could see a contraction of up to 30% following the Taliban takeover, the IMF said in its latest regional economic report.

Eleven out of 13 economists polled by Reuters had expected the Singapore central bank to keep its policy unchanged.

More than 40 economists polled by Reuters this month predicted that gross domestic product rose 20% for the April to June period.

The world economy could lose $2.3 trillion because of delayed vaccinations, with developing nations losing the most, the Economist Intelligence Unit said.

First-time jobless claims filings totaled 353,000 for the week ended Aug. 21 while second-quarter- GDP growth was revised up to 6.6%.

The upgrade comes as the Singapore economy grew 14.7% in the second quarter of 2021 from a year ago.