U.S. stocks and oil prices declined in choppy trading on Monday, while the dollar and Treasury yields pushed higher, as Wall Street digested a raft of mixed macroeconomic news.
Global economic growth is slowing more than was forecast a few months ago in the wake of Russia’s invasion of Ukraine, as energy and inflation crises risk snowballing into recessions in major economies, the OECD says.
Global growth this year was still expected at 3.0 per cent, but it is now projected to slow to 2.2 per cent in 2023, revised down from a forecast in June of 2.8 per cent, the Organisation for Economic Co-operation and Development said on Monday.
The OECD group, representing wealthy countries, has cut its forecast of Australian economic growth from 2.5 per cent forecast in June to 2 per cent in 2023. While Australia will avoid a recession next year, the OECD believes the Reserve Bank will hike up interest rates another 1.25 per cent.
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Caveat Emptor! Note: this is NOT financial or property advice!!
History does not repeat? That's the kind of statement that says what people (including analysts) learn from history is that people don't learn from history.
I dont believe the 22-23 gdp prediction charts one bit!!
Should have put my money in bullets and bomb stocks.
So…. We keep the property plates spinning then?
I think their forecast for the Russian economy will need revising too – Rubble & tatters was the last I heard.
Monero up 6% today!
It's NATO's war on Russia – you can't describe it any other way, truthfully
Debt will be wiped 🤭. Just watch
I love how Australia will avoid recession…and the illusion continues! Lol DXY 113.84 AUD 0.648 and declining…but hey nothing to see here! Hahahaha! Guys, the RBA will save Australia because they will fight inflation…lol
so many Russian bots here
what a time to be alive
Indian markets crash, Sensex closes 1.6% down – Investors losing $85Bn. $49Bn loss on Friday. Source WION.
With a Catholic Vattican flavour more like it….biasedly supports the EU even though they are at fault for ukraine since 2014….trying to expand
Well, aren't you just sunshine & rainbows tonight Martin?! How utterly depressing……and I'm just refusing to handle my own issues with the Optus hack at the moment, I am having a meltdown! If I ignore it all will it go away?
War between Israel and Iran will be just the cherry on the top of the cake. Times will be more interesting. Chance of it more than 75%.
Since the US State Department sponsored bloody coup in 2014 the Ukraine became a NATO proxy to attack Russia. The Russian SMO is easily justified, unless you’re a Nazi supporter.
China's GDP is laughable, i would say -20% at least
Orchestrated economic meltdown brought to us by the Global Elite!
Right, so Central Banks like US Fed printing unlimited money from their hind-holes is due to Russia??? I mean you have to even dumber than a frog to believe such nonsense.
Cash is King with LaTrobe Financial!