Tag: Recession

The US Economy is on the brink of recession, brought on by a reckless spending policy of the Biden Administration. Notable figures like Bank of America CEO Brian Moynihan and Federal Reserve Chairman Jerome Powell have voiced their concerns.

Philippine Peso and Malaysian Ringgit lead Asian currency gains, supported by resilient U.S. economic data. Both currencies strengthen in January, with ringgit appreciating about 4% year-to-date, reflecting improved economic outlook and investor optimism.

- Asian stocks show modest gains amid concerns about global economic slowdown and Federal Reserve interest rate hikes. Hong Kong and China markets rise, while Australian and Japanese indexes decline, reflecting investor sentiment and ongoing economic challenges.

The Institute of Chartered Accountants in England and Wales (ICAEW) predicts a challenging start for Asian economies in 2023, but suggests Malaysia will remain relatively resilient. Despite warnings of a potential recession, the country is expected to maintain economic strength amid global inflation and supply chain issues.

Malaysia is unlikely to experience a recession due to its diversified economic structure. With services contributing 57%, manufacturing 24.3%, and agriculture and mining 14% to GDP, the country maintains economic stability through varied sectors and balanced international trade relationships.

Indonesia's economy showed significant improvement in Q2, growing 7.07% and breaking out of recession. The growth rate, the strongest in 17 years, surpassed analyst predictions. However, rising Covid-19 infections could potentially disrupt the ongoing economic recovery.