Singapore reported dismal preliminary second quarter growth data on Friday, including the slowest pace of annual expansion in a decade, raising bets that a recession and monetary policy easing could be coming.
For the first time since the Great Recession a decade ago, the US Federal Reserve is poised to cut interest rates, shoring up America’s defenses as the global economy weakens.
Britain’s economy unexpectedly shrank in the second quarter of the year on Brexit turmoil, official data showed on Friday, placing the country on the verge of recession and sending the pound tumbling to a 2.5-year low.
Singapore slashed its full-year economic growth forecast on Tuesday as global conditions were seen worsening and data confirmed the slowest growth rate in a decade amid mounting fears of recession in the city-state.
US retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, which could help to assuage financial market fears that the economy was heading into recession.
Australian and New Zealand shares fell sharply on Thursday as investors sold off equities globally in search of safety after a drop in a US bond yield curve highlighted the risk of recession.
A German GDP contraction, weak Chinese industrial output and an inversion of the US yield curve all seem to strengthen fears of a global slowdown and the world community needs to take a serious note of it. Also highlighting the seriousness of the issue is the fact that stock markets on both sides of the Atlantic
The White House is considering cutting taxes or reversing tariffs to head off a recession, US media reported on Monday, despite President Donald Trump’s insistence the economy was in rude health.