Recessions

China's economy expanded far more than expected in the first quarter of 2024, data showed Tuesday, but disappointing retail and industrial figures suggested leaders face severe headwinds to hit their annual growth target.

According to the European statistical office Eurostat, housing prices, measured by the House Price Index, increased by 0.2 % in the EU during the fourth quarter of 2023 compared to the same quarter of the previous year. However, in the euro area, they decreased by 1.1 %. This marks a continuation of the trend observed in the third quarter, where prices fell by 1.1 %and 2.2 %, respectively.

Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, the World Bank said in a report released on April 1. 

The economic confidence index increased by 1 percent monthly to touch the 100-mark in March, data from the Turkish Statistics (TÜİK) have shown.

Any figure above the 100-mark points to optimism regarding the general economic situation.

The gauge of economic confidence was down 0.4 percent month-on-month in February.

The real sector confidence index increased from 102 in February to 103.5 in March, the Central Bank has said.

Any figure above the 100-mark indicates optimism among businesses.

The sub-index of the general business situation surged from 89.5 to 91.1, the bank's data showed on March 22.

Britain's economy rebounded slightly in January, data showed Wednesday, sparking hope of an end to recession in a boost to embattled Prime Minister Rishi Sunak ahead of elections.

Gross domestic product grew 0.2 percent following a slight 0.1-percent decline in December according to a statement from the Office for National Statistics (ONS).

The illegal economy recorded a significant decline in Greece from 2013 to 2021, excluding the year of the pandemic in 2020, according to a report by researchers at the International Monetary Fund.

China's central bank yesterday cut a key benchmark lending rate used to price mortgages, as Beijing seeks to rescue its housing market from a deepening crisis and boost flagging growth in the country's economy.

Japan's economy has unexpectedly contracted, leading the country to slip from its position as the world's third-largest economy to the fourth spot, now behind Germany.

Preliminary figures released by the Office for National Statistics (ONS) have revealed that the British economy has officially entered a recession in the latter half of 2023. The grim data indicates a contraction in GDP for two consecutive quarters, marking what economists term as a "technical recession."