GDPDecline

The Economic Impact of Trade Wars: Bank of Canada Forecasts Long-Term Output Decline

1 month ago

The Bank of Canada has issued a concerning analysis indicating that ongoing trade tensions could have a lasting detrimental effect on the nation’s economy. According to their latest report, the institution projects that persistent trade wars could lead to a permanent reduction in Canada’s gross domestic product (GDP) by approximately 2.5% over the long term.

Concerning Signs as Ireland's Economy Contracts: A Red Flag for the Eurozone

2 months ago

In an alarming turn of events, recent economic data reveals that Ireland's economy has officially shrunk, raising serious concerns for the broader Eurozone. This contraction, reported by the Central Statistics Office, marks the first decline in Ireland's GDP since the pandemic's upheaval two years ago, signaling potential vulnerabilities within the region's overall economic health.

Germany Faces Economic Contraction Again This Year According to Survey

5 months ago

Germany's economy is poised for another challenging year as recent surveys indicate a looming contraction in economic output. Analysts project that the nation, which currently stands as Europe’s largest economy, is likely to experience a decline in GDP for the second consecutive year in 2024. This downward trend has raised concerns about the long-term stability and growth prospects of the German economy, which has been grappling with various domestic and global headwinds.

Hungary's Economy Faces Sharp Decline: Recession Triggered by Manufacturing Sector Struggles

5 months ago

In a troubling economic development, Hungary has officially entered a recession, primarily driven by significant downturns in the manufacturing and industrial sectors. The nation's economy has contracted for two successive quarters, marking a stark shift from its previous growth trajectory. Analysts and officials express concerns over the implications of this economic slide, particularly as global markets face their own uncertainties.