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Slow, but solid US economic growth anticipated in Q1; inflation likely heats up

U.S. economic growth likely slowed to a still-solid pace in the first quarter while inflation accelerated, reinforcing financial market expectations that the Federal Reserve would delay cutting interest rates until September. The Commerce Department's snapshot of first-quarter gross domestic product on Thursday is expected to show consumers still doing the heavy lifting for the economy, thanks to a resilient labor market. The economy has defied prophecies of doom since late 2022 following the U.S. central bank's aggressive rate hiking campaign to snuff out inflation.

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U.S. economic growth slowed in first quarter, falling short of forecasts

Real GDP increased at an annual rate of 1.6% in the first quarter of 2024, according to initial estimate.

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UK Economy Grows for a Second Month After Mild Recession

(Bloomberg) -- The UK economy grew for a second month in February, suggesting a recovery from recession is now under way.Most Read from BloombergUS Sees Imminent Missile Strike on Israel by Iran, ProxiesApple Plans to Overhaul Entire Mac Line With AI-Focused M4 ChipsRussian Attacks on Ukraine Stoke Fears Army Near Breaking PointVietnam Tycoon Lan Sentenced to Death Over $12 Billion FraudUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsGross domestic product rose 0.1% from January,

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Moody's projects India's GDP growth at 6.1% in 2024-'25

The Reserve Bank of India’s Monetary Policy Committee had estimated real gross domestic product growth for the current financial year at 7%.

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Lithuania delivers additional armored personnel carriers to Ukraine

Lithuania has delivered a new batch of M577 tracked armored personnel carriers to Ukraine, the Lithuanian Defense Ministry reported on April 6.

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Philippines Cuts Growth Targets Amid Sticky Inflation, High Rate

(Bloomberg) -- The Philippines trimmed its economic growth estimates for this year and next as stubborn inflation and elevated interest rates crimp consumption and investment.Most Read from BloombergKim Jong Un Faces Annihilation in Most Korea War ScenariosApple Explores Home Robotics as Potential ‘Next Big Thing’ After Car FizzlesTexas Toll Road Takeover to Cost Taxpayers at Least $1.7 BillionTSMC Facilities to Resume Production Overnight After QuakeA Million Simulations, One Verdict for US Eco

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GDP growth in FY24 seen at 8% or more on average, says Sitharaman

This is higher than recent data from the National Statistical Office (NSO) which showed that the economy is expected to grow at 7.6% in FY24.

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FTSE 100 LIVE: European stocks follow Wall Street rally as UK ends 2023 in recession

The FTSE and European stocks were higher on Thursday despite official figures confirming that the UK fell into a recession in the second half of 2023.

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Canada's GDP outperforms Jan growth forecast, likely grew 0.4% in Feb

OTTAWA (Reuters) -Canada's gross domestic product strongly rebounded in January exceeding expectations and February's preliminary estimates point to another expansion, data showed on Thursday, tempering pressure on the Bank of Canada (BoC) for an early rate cut. The economy grew by 0.6% in January, its fastest growth rate in a year, which the Statistics Canada called a broad-based expansion led by a bounce back in education services benefiting from an end of public sector strikes in Quebec. Analysts polled by Reuters had forecast a GDP growth of 0.4% on a month-on-month basis in January.

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Indian Economy Can Grow At 8% Till 2047, Says Subramanian

The growth rate in October-December helped take the estimate for the current fiscal to 7.6 percent.

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