Title: World Bank Trims Growth Forecast for Developing East Asia and Pacific Date: October 23, 2023 The World Bank has revised its growth forecast for developing economies in East Asia and the Pacific, citing a sluggish China, weak global demand, high interest rates, and dampened trade. According to the bank’s October report published on Monday, ...
Title: Bitcoin Slumps 11% in Q3 Amidst Uncertain Macro Outlook and Regulatory Delays Date: [Current Date] Bitcoin, the leading cryptocurrency by market value, has experienced a significant decline of approximately 11% in the third quarter of this year, from June to September. On Saturday, it was trading at around $26,970 in New York. This decline ...
Bitcoin and other cryptocurrencies have faced significant challenges this year, largely due to pressure from the Federal Reserve. The bitcoin price has dropped from its peak of nearly $70,000 per bitcoin in late 2021. However, there are rumors that a major technology company may be planning to enter the world of bitcoin and crypto, which ...
China’s factory activity expanded at a slower pace in September, according to a private-sector survey released on Sunday. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) fell to 50.6 in September from 51.0 in the previous month, missing analysts’ forecasts of 51.2. The 50 index point mark separates growth from contraction. The survey indicated that ...
/cloudfront-us-east-2.images.arcpublishing.com/reuters/7YQ7UIKKCZL2XDDVSKP676HAOM.jpg)
China’s Lottery Ticket Sales Reach Highest Level in 2023 Amid Economic Concerns BEIJING, Sept 30 (Reuters) – China’s lottery ticket sales in August soared to their highest for any month so far this year, amid public concern about the economy following months of mostly gloomy data including youth unemployment. Nationwide lottery ticket sales jumped 53.6% ...
Bitcoin Set to Record First Quarterly Drop of the Year As September comes to a close, Bitcoin, the dominant cryptocurrency, is on track to record its first quarterly drop for the year. The value of Bitcoin has declined approximately 11% since June and currently stands near $26,970, according to Bloomberg. This downturn follows a strong ...
Title: Rising Gas Prices and Credit Card Delinquencies Weigh on US Consumers Subtitle: Consumer Confidence Slumps as Inflation and Economic Outlook Deteriorate Date: [Current Date] In a concerning development for the US economy, rising gas prices are starting to take a toll on consumer spending, while credit card delinquency rates have reached their highest level ...
Fidelity Investments’ global macro director, Jurrien Timmer, believes that a recession could lead to a significant rally for Bitcoin (BTC). Timmer, who has a following of 167,000 on Twitter, suggests that for Bitcoin to experience substantial gains, current high-interest rates need to decrease. He presents a regression model that outlines a price range based on ...
Stats Canada has reported that there was no economic growth in the country during the month of July. This news comes despite a population increase. The country’s GDP remained flat, indicating a lack of expansion in the economy. Previous rate hikes were also said to have contributed to the stalled economy. Economists are expressing concerns ...
Standard & Poor’s (S&P), the international credit rating agency, has revised Türkiye’s outlook from “negative” to “stable” and affirmed its credit rating at B. The agency stated that the stable outlook reflects the balanced risks on Türkiye’s creditworthiness after a return to orthodox monetary policy settings, including the Central Bank raising interest rates. S&P highlighted ...
