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Less people saving, more worried about global recession

Less people are saving, and more are worried about the risk of a global recession, according to new research by Bank of Ireland.

Business • 25 Jun

Donald Trump's push to reshape world trade by imposing tariffs on all US imports has sent shockwaves through financial markets

Risk of global recession surges on US tariff shockwaves

Risks are high that the global economy will slip into recession this year, according to a majority of economists in a Reuters poll, in which several said US President Donald Trump's tariffs have damaged business sentiment.

Business • 29 Apr

The German economy expanded by 0.2% in the third quarter compared with the previous three-month period, preliminary data shows today

German economy unexpectedly grows, inflation rises

Germany's gross domestic product unexpectedly increased in the third quarter, skirting a recession, but inflation rose more than expected in October, interrupting the downward trend in Europe's troubled largest economy.

Business • 30 Oct 24

HCOB's final euro zone manufacturing Purchasing Managers' Index (PMI) did nudge up to 44.4 in December.

Euro zone economy likely entered recession last year

Euro zone factories ended 2023 on the back foot, with activity contracting in December for an 18th straight month, according to a survey which gave scant signs of any imminent strong bounceback in an economy likely in recession.

Business • 02 Jan 24

The UK economy contracted by 0.1% in the third quarter of 2023, new ONS figures show today

UK recession may be under way as economy shrinks in Q3

Britain's economy might be in a recession, according to data that showed it shrank between July and September, shortly after finance minister Jeremy Hunt took the rare step of suggesting the Bank of England might cut interest rates to boost growth.

Business • 22 Dec 23

HCOB's flash euro zone Composite Purchasing Managers' Index fell to 46.5 in October from September's 47.2 - its lowest since November 2020

Euro zone PMI hits lowest in nearly three years

Euro zone business activity took a surprise turn for the worse this month as demand fell in a broad-based downturn across the region, a survey showed, suggesting the bloc may slip into recession.

Business • 24 Oct 23

Germany's gross domestic product fell by 0.3% in the first three months of 2023

Germany enters recession in first quarter of 2023

The German economy contracted in the first quarter of 2023 compared with the previous three months, thereby entering recession, data from the statistics office showed today.

Business • 25 May 23

Japan, the world's third-largest economy, grew an annualised 1.6% in the three months from January to March

Japan emerges from recession on post-Covid rebound

Japan's economy emerged from recession and grew faster than expected in the first quarter as a post-Covid consumption rebound offset global headwinds, shoring up hopes for a sustained recovery.

Business • 17 May 23

The IFAC paper examines a range of factors and indicators that might be used to predict a recession.

'Relatively low likelihood' of recession, IFAC says

There's a 'relatively low likelihood' of a recession in the coming year, according to an analysis by economists at the Irish Fiscal Advisory Council.

Business • 28 Feb 23

The UK economy showed zero growth in the final three months of 2022, figures from the Office for National Statistics showed today

What is a recession?

What exactly is a recession, how important or not is it that the UK avoided one and could the ONS change its mind later?

Business • 10 Feb 23

Participants at the opening of the World Economic Forum's annual meeting counted the likely cost of a recession for their economies and businesses.

Recession casts long shadow over opening of WEF summit

The prospect of imminent global recession cast a long shadow over Davos yesterday as participants gathering for the opening of the World Economic Forum's annual meeting counted the likely cost for their economies and businesses.

Business • 17 Jan 23

"Our economy is adaptable and robust," finance minister Christian Lindner said.

German economy escapes recession for now

German economic output stagnated in the final quarter of 2022 and grew 1.9% over the full year, adding to signs that Europe's largest economy may dodge a recession, at least over the winter.

Business • 13 Jan 23

The development lender said it expected global GDP growth of 1.7% in 2023

World Bank says global economy could tip into recession

The World Bank has slashed its 2023 growth forecasts to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukraine continues, and the world's major economic engines sputter.

Business • 11 Jan 23

20% of those surveyed are concerned about potential job losses and 5% are unsure.

75% of Irish workforce expect recession this year

Almost 75% of the Irish workforce believes that we will be heading into a recession this year, according to new research from global recruitment agency Phoenix.

Business • 10 Jan 23

German gross domestic product increased by 0.3% compared to the previous quarter in seasonally adjusted terms

German economy posts unexpected Q3 growth

The German economy grew unexpectedly in the third quarter, data showed today, as Europe's largest economy staved off the threat of recession for now despite high inflation and concerns over energy supply.

Business • 28 Oct 22

The IMF in July revised down global growth to 3.2% in 2022 and 2.9% in 2023

IMF sees further global economic slowdown in Q3

Downside risks continue to dominate the global economic outlook and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global recession, the IMF said.

Business • 16 Sep 22

The world's three largest economies - the US, China, and the euro area - have been slowing sharply

World Bank sees rising risk of global recession in 2023

The world may be edging toward a global recession as central banks across the world simultaneously hike interest rates to combat persistent inflation, the World Bank said today.

Business • 16 Sep 22

The European Central Bank is under pressure as inflation is running at more than four times its 2% target, reaching a record 9.1% last month

Europe heading for recession as inflation bites

The euro zone is almost certainly entering a recession, with surveys today showing a deepening cost of living crisis and a gloomy outlook that is keeping consumers wary of spending.

Business • 05 Sep 22

While soaring energy prices had largely driven inflation last year, the war in Ukraine has exacerbated the inflationary environment on several fronts

Prices climbing but is a recession on the cards too?

While prices are certain to keep on rising this year, the outlook for the economy here and across the euro zone is less than assured and talk of recession has become a lot louder. While growth is sure to take a hit, recession looks unlikely, but a lot depends on the war in Ukraine.

Business • 27 Mar 22

Data from the Australian Bureau of Statistics showed the country's economy shrank 7% in the three months to the end of June from a 0.3% decline in the March quarter

Australia records worst slump as Covid ends golden run

Australia fell into its deepest economic slump on record last quarter as coronavirus curbs paralysed business activity, while fresh outbreaks threaten to upend any immediate recovery, piling pressure on the government to keep fiscal taps open.

Business • 02 Sep 20

The UK's record economic plunge in the second quarter of 2020 beats OECD area contraction

OECD sees 'unprecedented' economic fall of 9.8% in Q2

The UK saw the biggest economic slump of the world's major economies in the second quarter as the Covid-19 crisis sparked a record global contraction, new figures from the OECD show today.

Business • 26 Aug 20

The French economy slumped by a record 13.8% in the second quarter due to Covid-19

France suffers record GDP plunge in second quarter

France's economy slumped by a record 13.8% in the second quarter as businesses bore the brunt of a strict coronavirus lockdown that slammed consumer spending, the INSEE statistics agency said today.

Business • 31 Jul 20

S&P has warned that the contraction could be as much as 10% if the current lockdowns in the euro zone last as long as four months

Euro zone faces 2% recession, 10% if lockdown lasts:S&P

The coronavirus pandemic will push the euro zone and Britain into recession this year, with their economies expected to shrink by as much as 2%, the international ratings agency S&P Global warned today.

Business • 26 Mar 20

The worst impact of a no-deal Brexit will be felt in the early part of next year

Central Bank warns of recession after no-deal Brexit

The Central Bank has delivered its first detailed forecast for what the economy might look like under a disorderly, no-deal Brexit.

Brexit • 11 Oct 19

The UK's GDP grew by 0.3% in the three months to August, new ONS figures show

UK economy on track to dodge pre-Brexit recession

The UK economy looks on course to avoid tipping into recession before it is due to leave the European Union, despite a small fall in output in August, official figures showed today.

Business • 10 Oct 19