Economic Predictions/Forecasts

HONG KONG—China’s housing market flipped from being a growth driver to an economic drag in 2022, with sales slumping, prices falling and widespread job losses. The prognosis for this year isn’t much better, compounding Beijing’s efforts to get its economy back on firmer footing.Sales of new residential properties in the country tumbled 28% last year to the equivalent of $1.7 trillion in value terms, a five-year low. By floor area, they dropped to their lowest level in nearly a decade, after a wave of real-estate developer…

Many consumers around the world see an economic downturn coming in the year ahead.U.S. consumer sentiment reached an all-time low in June 2022 and remains 15% below where it was a year ago, according to the University of Michigan. Expectations also took historic dips over the past year and remain depressed in Europe and China, according to TradingEconomics data from the European Commission and National Bureau of Statistics of China.  People feel uncertain about their own and their country’s financial futures due to…

Despite signs that inflation has started to recede, economists still expect higher interest rates to push the U.S. economy into a recession in the coming year, according to The Wall Street Journal’s latest quarterly survey.On average, business and academic economists polled by the Journal put the probability of a recession in the next 12 months at 61%, little changed from 63% in October’s survey. Both figures are historically high outside actual recessions.  The Federal Reserve had initially hoped it could bring down…

HONG KONG—The export boom that carried China’s economy through much of the Covid-19 pandemic has lost momentum, adding urgency for Beijing to seek growth drivers elsewhere as the global economy struggles. The decline for Chinese exports got steeper in the final month of 2022, falling 9.9% from a year earlier, compared with a 8.7% drop in November, according to data from China’s customs bureau. While the decline wasn’t as steep as the 10.5% drop forecast by economists polled by The Wall Street Journal, it marked the…

WASHINGTON—The World Bank sharply lowered its growth forecast for the global economy this year as persistently high inflation has elevated the risk for a worldwide recession.The bank expects global growth to slow to 1.7% in 2023, down from an estimate of 3% growth in June. That would mark the third-weakest pace of global growth in nearly three decades, overshadowed only by the 2009 and 2020 downturns, according to the World Bank. A separate report showed that global inflation, while starting to cool, remains historically…

The Federal Reserve’s short-term benchmark rate isn’t yet at a level high enough to sufficiently slow the U.S. economy to combat high inflation, but it should get there this year, a central bank official said Thursday. “We are getting closer,” said St. Louis Fed President James Bullard during a talk to business leaders in St. Louis. “What we’re looking at is a combination of factors that are making it more likely that 2023 will be a disinflationary year.” The... The Federal Reserve’s short-term…

A majority of voters think the economy will be in worse shape in 2023 than it is now and roughly two-thirds say the nation’s economic trajectory is headed in the wrong direction, the latest Wall Street Journal poll shows.The survey, conducted Dec. 3-7, suggests a recent burst of positive economic news—moderating gas prices and a slowing pace of inflation—haven’t altered the way many feel about the risk of a recession, something many economists have forecast as likely. “I just think we are headed toward a recession and it…

The Federal Reserve brushed aside recent good news on prices, revising its interest-rate path up and economic growth down. The Federal Reserve brushed aside recent good news on prices, revising its interest-rate path up and economic growth down. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all…

HONG KONG—Chinese exports fell at the steepest pace in more than two years in November, the latest indication of how the country’s pandemic restrictions and waning global demand for goods is throttling China’s economy.Outbound shipments from China plunged 8.7% year-over-year last month, the biggest dip since February 2020, when a nationwide lockdown ground economic activities to a halt. Economists polled by The Wall Street Journal had forecast a 2% drop. The sharper-than-expected plunge comes amid weakening factory…

Business-software companies say customers are being more cautious with their spending in response to a challenging economy, adding to the tech industry’s list of concerns.Customers for companies such as Salesforce Inc., CRM -1.66% Okta Inc. OKTA -3.49% and CrowdStrike CRWD -0.06% Holdings Inc. are taking longer to sign deals, and in some cases slowing their hiring plans as they…