RECESSION
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PERSIAN GULF
Global economy at risk of recession if war against Iran persists: IMF
The International Monetary Fund (IMF) warns that the global economy is at risk of a major recession if the United States fails to reach an agreement with Iran and the conflict persists.
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GERMANY
Germany in recession as inflation hits economy, higher interest rates bite
It is Germany's second consecutive quarter of negative growth.
GERMANY
Fears of recession in Europe's biggest economy rise
German industrial orders saw their steepest fall, compared with the previous month, ever since the Covid-19 pandemic in 2020, data showed on Friday, hence, building up fears for a recession for Europe's biggest economy.
ECONOMY
Economists expect recession, high inflation in US this year
Recession and high inflation are expected to hit the United States this year that will continue well into 2024, according to a majority of economists.
ECONOMY
Americans face financial ‘catastrophe’
US Treasury Secretary Janet Yellen has warned that the United States is facing a catastrophic debt crisis if Congress fails to raise the statutory debt ceiling to fend off a default.
ECONOMY
US default could ‘cause a global financial crisis’: Yellen
US Treasury Secretary Janet Yellen has warned that the United States could see a recession and "cause a global financial crisis" if it defaults on its national debt as lawmakers grapple over raising the debt limit.
ECONOMY
US retail sales post the biggest drop in 12 months
New data shows retail sales in the US fell for the second consecutive month in December, amid concerns that the country is headed for another recession.
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