PricewaterhouseCoopers (PwC) has announced a major restructuring, resulting in the layoff of approximately 1,800 employees in the United States. This is PwC’s first major workforce reduction since 2009, affecting around 2.5% of its US staff. Roles ranging from associates to managing directors in business services, audit, and tax are impacted, a WSJ report stated. PWC … Read more
The US is not in a recession, despite the indicator bearing my name saying that it is. The Sahm rule, which was triggered with Friday’s weaker-than-expected jobs report, joins a long list of economic tools skewed by the unusual disruptions of the past four and a half years. That said — and I say this … Read more
Turmoil in the markets has renewed fears that the US did not escape history after all, that a hard landing — a recession — is coming. Whether this is all a blip from a rising yen or a justified reaction to an actual weakening of the US economy is still unknowable. But there are reasons … Read more
Just a quarter of business economists and analysts expect the United States to fall into recession this year. And any downturn would likely result from an external shock – such as a conflict involving China – rather than from domestic economic factors such as higher interest rates. But respondents to a National Association of Business … Read more
The U.S. economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the government said Thursday in a slight downgrade from its previous estimate. But consumer spending, which drives most of the economy’s growth, was revised sharply down. The government had previously estimated that the economy expanded … Read more
It was feared that the economic slowdown in Europe and the US would affect the IT sector, but that has not happened. Contrarily, the majority of businesses have reported strong growth, even in Europe. While the situation is volatile, companies are confident of navigating the same successfully. Source link
The US economy entering a ‘technical recession’ is not good news for India and the world. But analysts said one should not see too much into the GDP print, as other data points in the world’s largest consumer economy still suggest resilience. If anything, the GDP print could persuade the Fed to go slow on … Read more
Federal Reserve Chair Jerome Powell is likely to slow the pace of interest-rate increases after front-loading policy with a second straight 75 basis-point hike next week, economists surveyed by Bloomberg said. They expect the Federal Open Market Committee to lift rates by a half percentage point in September, then shift to quarter-point hikes at the … Read more
US recession risks are reverberating across the emerging Asian debt complex and nowhere is this more apparent than in Indian sovereign bonds. Rupee debt has proven to be the most sensitive to an inversion of the US curve in the past and this time is unlikely to be different, according to a Bloomberg study which … Read more
The United States is unlikely to fall into a recession as interest rates rise quickly to fight inflation, the US treasury secretary said Wednesday, but warned against the economic risks for Europe from the war in Ukraine. “I really don’t expect the United States to fall into a recession,” Janet Yellen said at a press … Read more