Recession
Economic Sentiment Wavers in EU and Bulgaria Amidst Uncertainty
Economic sentiment in both the European Union and Bulgaria experienced some turbulence in February, reflecting ongoing uncertainties surrounding economic recovery and global challenges. According to the latest monthly survey by the European Commission, while consumer sentiment showed marginal improvement, economic attitudes unexpectedly deteriorated.
2023 slowest year for US home sales in 30 years
Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans.
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Money circulates and produces euphoria
The forecasts of analysts of international organizations for the course of the global economy in 2023 were wrong. The interest rate hikes certainly had a negative impact on economic growth, but they did not force the US economy to make a "bumpy landing," nor did they plunge the European economy into recession.
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Eurozone economy likely entered recession last year
Eurozone factories ended 2023 on the back foot, with activity contracting in December for an 18th straight month, according to a survey which gave scant signs of any imminent strong bounce back in an economy likely in recession.
China factory activity decline deepens in December
China's factory activity decline deepened in December, official data showed yesterday, as Beijing rounded off a year marked by its stuttering economic recovery from the pandemic.
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Economic Shift: Bulgaria's Business Climate Slumps in December
Bulgaria faces a challenging turn in its business climate as December reports unveil a decline in the total business climate indicator by 1.8 percentage points (pps), dropping to 19.8% from November's 21.6%. The National Statistical Institute highlighted a downturn primarily impacting construction, retail trade, and services sectors.
Industry Holds Steady but Faces Hurdles
Greece industry output higher, while Eurozone output drops in October
Eurozone industrial production declined by more than expected in October, with the sharpest drop for capital goods such as machinery, reinforcing survey indications that the single-currency area is in a recession.
‘Zero profit,’ rain or shine
Whether in recession or growth, or with bailouts and pandemics, thousands of professionals and single-owner companies declare zero profits or losses for years: About 36.4% of sole proprietorships and 27.8% of professionals have declared zero profits or losses for at least five years.
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Bulgarian Industries Suffer Double-Digit Slump in September Production
Bulgaria's industrial landscape faced a substantial setback in September, witnessing a sharp decline both on a monthly and yearly scale, according to data from the National Statistical Institute. The year-on-year contraction reached a staggering 11.5%, surpassing the 2.7% dip compared to August.
Turkish economy grows 3.8 percent in second quarter
Türkiye's economy grew by a more-than-expected 3.8 percent in the second quarter of 2023 from a year ago, the data from the Turkish Statistical Institute (TÜİK) have shown.