Round two: UK may fall back into recession as new lockdowns bite

With fresh lockdowns and a COVID-19 variant, it is increasingly likely the United Kingdom could fall back into recession. The British economy looks set to fall back into recession after official figures on Friday showed that it shrank by 2.6 percent month on month in November, when much of the country was in a second […]

German economy stalls, probably avoids double-dip recession

German officials predict renewed pandemic lockdown won’t have the same severe impact as restrictions earlier in 2020. The German economy stagnated at the end of last year, probably avoiding a double-dip recession that is engulfing the euro area. The statistics office predicted that the country’s renewed pandemic lockdown won’t have the same severe impact as […]

Singapore’s recovery from its worst recession proves to be patchy

The Southeast Asian trading hub’s economy shrank by 5.8 percent in 2020, with recovery expected to be gradual. Singapore marked its worst-ever recession in 2020 due to the COVID-19 pandemic, although the contraction moderated in the fourth quarter as the country lifted more coronavirus-related curbs, putting the economy on path to a slow and patchy […]

South Africa exits recession but faces long road to full recovery

South Africa exits its longest recession in 28 years, but may not recapture pre-COVID-19 levels until 2025, says economist. South Africa’s economy may only get back to pre-Covid 19 levels by 2025 and remains vulnerable to a local resurgence of the pandemic, even after exiting its longest recession in 28 years. Gross domestic product expanded […]

India enters recession as COVID-19 surge hinders recovery

Mumbai – After one of the world’s strictest lockdowns brought India’s economy to its knees, the country’s latest economic data shows signs of a tentative recovery. According to official figures released on Friday, India’s gross domestic product (GDP) contracted by 7.5 percent in the second quarter (July to September), an improvement on the previous quarter’s […]

Indian central bank data point to first ever recession #duzline #duzlinenews #follow4follow

The Reserve Bank of India’s figures suggest the economy shrank 8.6 percent in the July-September quarter following a contraction in the previous three months. India’s economy probably shrank for a second straight quarter, according to a team of economists including Michael Patra, the central bank’s deputy governor in charge of monetary policy, pushing the country […]

Is this the end of the Middle East’s oil rush?

Oil revenues in the Middle East and North Africa fell from more than $1 trillion in 2012 to $575bn in 2019, according to the International Monetary Fund. The pandemic has meant demand for fossil fuels has been decimated and may not return. Have oil-exporting countries done enough to diversify their economies? Plus, what has gone […]