UK GDP Falls 0.3% in Q4
The U.K. economy slipped into a technical recession in the final quarter of last year, initial figures showed Thursday February 15.
The Office for National Statistics (ONS) on Thursday said that according to a first estimate release, the U.K. GDP shrank by 0.3% in the final three months of the year, notching the second consecutive quarterly decline after a 0.2% contraction in the July to September period.
On an annual basis, UK GDP Estimate YoY actually fell to 0.0% (Forecast 0.3%, Previous 0.2%). Though there is no official definition of a recession, two straight quarters of negative growth is widely considered a technical recession. The United Kingdom’s GDP decreased by 0.3% in the fourth quarter of 2023.
Powell Emphasized that Fed isn't Ready to Start Cutting Interest Rates
Fed Chairman Jerome Powell on Wednesday, March 6, reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when.
Japan's Inflation Beats Forecasts, end of Negative Rates in Sight
Japan's core consumer inflation slowed for a third straight month in January but beat forecasts and held at the central bank's 2% target, keeping alive expectations it will end negative interest rates by April.
Warren Buffett Just Bought This Beaten-Down High-Yield Dividend Stock
The Oracle of Omaha had been selling this stock, but he's buying it hand over fist again.
