Economic rundown – two countries fall into recession

Economic rundown – two countries fall into recession | Insurance Business New Zealand

Insurance News

Economic rundown – two countries fall into recession

NZ’s neighbour reaches new unemployment high

Insurance News

By
Terry Gangcuangco

The UK and Japan found themselves slipping into recession at the end of 2023.

Australia – country’s unemployment rate the highest in two years
Germany – manufacturing output trending downward since 2017
Japan – unexpected recession blamed on “anemic” domestic demand
UK – entered into mild recession in second half of 2023, with full-year growth at 0.1%
US – prices of food, car insurance, etc. went up

Elsewhere, the European Union is expected to grow slower than initially forecast, while another currently devaluation is expected in Egypt amid an economic crisis.

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