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Economy

Eurozone sees sluggish growth in second quarter

The latest figures from Eurostat show that economic activity in the eurozone grew less than initially estimated, by 0.1% over the April-June period compared to the previous three months.

Economy

Denmark's economy boosted by anti-obesity treatments

Over the first six months of the year, Danish GDP rose by 1.7% year-on-year, according to national statistics, but without the contribution of the pharmaceutical industry, it would have fallen by 0.3%.

Business

BRICS wants an increased influence that the West cannot ignore anymore

Six new countries are set to join the BRICS to make their presence felt on the global economic stage. But the Western world’s sustainability goals might suffer the consequences.

Economy

Heat to slash European countries' GDP by as much as one point - study

Recent heat waves could cut global growth by almost 0.6 percentage points in 2023 with several European countries particularly impacted, according to an estimate by Allianz Trade.

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World News

Drought: Agriculture must 'adapt to climate change'

The lack of regular rainfall and a temperature rise of 2 degrees Celsius would cause Spain to lose 7% of its GDP, according to the Spanish Committee of Farmers' and Stockbreeders' Organisations.

Germany

Germany slips into recession, economy shrank 0.3% in first quarter

The figures were a blow to the German government, which last month boldly doubled its growth forecast for this year after a feared winter energy crunch failed to materialise.

World News

NATO: Why is spending 2% of GDP on defence so controversial?

Only seven of NATO's 30 allied countries met the military spending target of 2% of GDP set by the North Atlantic Alliance in 2022.

Economy

Eurozone surprises by avoiding contraction in last quarter of 2022

France, Spain, Belgium and Portugal were among those who posted positive growth, while Germany, Italy and Austria contracted.

Economy

Economic growth in the EU falls

Europe's economy has continued to cool with GDP in both the eurozone and the wider EU expanding only marginally in the third quarter.

Tech News

Metaverse could be worth $3 trillion to global GDP in 10 years - study

A new report claims that metaverse technology could make up 2.8 per cent of global GDP in its first decade, if adopted similarly to mobile tech.

China

China's birth rate drops to a record low

Changes to the strict "one-child policy" since 2016 have failed to result in a hoped-for baby boom

Tech News

Eurozone GDP recovered more rapidly than expected post-COVID lockdowns

Increased consumer spending was marked out as a catalyst for a rapid rise in GDP in the EU and eurozone, according to the new report.

Business

French economy grows slightly better than expected in second quarter

The French government is forecasting GDP to grow by 6% this year after last year's historic 8% contraction.

United Kingdom

UK economy saw record rebound before new COVID-19 restrictions

The British economy grew by 15.5 per cent over the summer but monthly data suggest trouble lurks ahead once more

Economy

COVID-19: Euro area economy suffers record drop of 12.1%

Eurostat also expects Gross Domestic Product (GDP) for the whole European Union to have fallen by 11.9 per cent between April and June.

Germany

Coronavirus causes record plunge in Germany's GDP

This is the largest fall since the beginning of quarterly GDP calculations by the country in 1970

World News

France and Italy in recession as Spain sees record GDP decline

The devastating impact of the coronavirus lockdowns came into sharp focus today when the latest economic data was released.