bne IntelliNews’ Post

Since the fourth quarter of the year before last, the pace of decline has been steadily slowing, which has been a strong and positive trend. However, there are quite a few uncertainties ahead next year. The Estonian economy had been in recession since the end of 2022.

As I embark on a nine-month journey across Europe to pursue my CFP studies and immerse myself in the diverse offerings of the continent, I am excited to launch a series of posts examining the economies of each country I visit. First up: Scotland! GDP: The US had a nominal GDP of $25.46 trillion in 2022, while Scotland's nominal GDP was £218.0 billion (approximately $276 billion) in 2023[2]. The US economy is significantly larger, about 92 times the size of Scotland's. GDP per capita: In 2023, the US GDP per capita was approximately $76,000. Scotland's GDP per capita was estimated at £30,800 (nominal) or £28,700 (real, 2016 prices)[1]. This puts Scotland's GDP per capita lower than the US, but still relatively high globally. Exports and Imports: The US had a nominal GDP of $25.46 trillion in 2022, while Scotland's nominal GDP was £218.0 billion (approximately $276 billion) in 2023[2]. The US economy is significantly larger, about 92 times the size of Scotland's. Exports and Imports: The US is a major exporter of goods like machinery, aircraft, and vehicles, and services such as financial and professional services. Scotland's main exports include petroleum products, food and beverages (especially whisky), and financial services[2]. Both countries have diverse import portfolios, with the US importing more consumer goods and Scotland relying heavily on imports from the rest of the UK[2]. Inflation: As of April 2024, Scotland's consumer price inflation was 2.3%, the lowest in nearly three years[4]. The US inflation rate has been higher, around 3-4% in recent months. Overall economies: The US has the world's largest economy, characterized by a highly developed service sector and advanced technology industries. Scotland's economy, while smaller, is also primarily service-based and has strengths in sectors like finance, renewable energy, and tourism[2]. Scotland's economy grew by 0.4% in March 2024, driven by the service sector, while manufacturing and construction declined[4]. Sources [1] A Guide to Scottish GDP | FAI - Fraser of Allander Institute https://lnkd.in/gi_yNQdC [2] Economy of Scotland - Wikipedia https://lnkd.in/gS7k-jrG [3] [PDF] Scotland's International GDP Per Capita Ranking https://lnkd.in/g_FjSJza [4] Scottish economy and global economic trends https://lnkd.in/gR5C3ShR [5] USA - Scotland: a trading nation - gov.scot - The Scottish Government https://lnkd.in/gbgtneTs #Scotland #Economy #CFPStudies #TravelAndLearn #BostonUniversityOnline #BU

📈OECD improves Brazil’s GDP growth forecast once again Overall, the worldwide economic outlook has improved according to the Organization for Economic Co-operation and Development (OECD), with “signs that the global outlook has started to brighten,” as “global activity is proving relatively resilient, inflation is falling faster than initially projected, and private sector confidence is improving.” Still, the organization sees “steady” global GDP growth of 3.1 percent in 2024, the same as 3.1 percent in 2023, followed by a possible rebound to 3.2 percent next year. Despite better-than-expected economic growth in 2023, most of the seven Latin American members of the OCDE are poised to grow below the global average again this year. 🔗Read more in our full article by Fabiane Ziolla Menezes here 👇 https://lnkd.in/dzQWcz93 #OECD #GDPforecasts #Economy #Brazil

Estonia's GDP shrinks by 0.7% y/y in Q3 as economy struggles to emerge from recession #bne #bneEditorsPicks #bneChart #Estonia #Baltics #macro Estonia's GDP was stagnant in Q3, rising by 0.1% q/q but falling by 0.7% y/y as the economy continues to struggle to emerge from two years of recession, according to preliminary workday and seasonally adjusted data from Statistics Estonia. In Q2 GDP rose a feeble 0.2% q/q but declined 1% y/y, so the economy is on a slowly improving track, after falling into a y/y decline in 2Q2022.

Preliminary Q1 GDP data shows Hungarian economy posts modest rebound #bne #bneEditorsPicks #bneChart #Hungary Hungary’s economy grew 1.1% year on year (chart) in Q1 and by 1.7% when adjusted for calendar effects, according to preliminary figures from the Central Statistics Office (KSH) released on April 30. In a quarter-on-quarter comparison, GDP increased by a seasonally and calendar year-adjusted 0.8%, above the 0.5% consensus, signalling a modest rebound after flat growth in Q4. KSH released the figures T+30 days after the close of the quarter, a switch from its earlier practice of T+45 in line with new guidance, but that may increase the inaccuracy of the preliminary data, analysts noted.

Ireland's economy expanded in second quarter, says CSO - Central Statistics Office 🇮🇪 The Economic and Social Research Institute has estimated modified domestic demand will grow by 2.3pc this year and by 2.5pc next year. It expects GDP to grow by 2.5pc this year ☘️ The European Commission has predicted a GDP growth rate of 1.2pc for Ireland this year ☘️ https://lnkd.in/dS7ZFzWP

Hungary’s economy contracts q/q in April-June #bne #bneEditorsPicks #bneChart #hungary Economic output in Q2 rose 1.5% year-on-year (chart) in April-June and was up 1.3% when adjusted for working days, missing the 2.4% consensus, according to preliminary data from the Central Statistics Office (KSH) on July 30. Prior to the release of the data, analysts were expecting that household consumption would drive growth, however, the preliminary data suggests that it was a drag on growth.

In Q2 of 2024, SA’s economy strengthened by 0.4% QoQ. The finance, manufacturing, trade, and electricity, gas & water supply industries drove most of the economy’s production or (supply) side momentum. On the expenditure (demand) side, household consumption, government consumption, and a build-up in inventories contributed favourably to growth. Anchor

Which economy did best in 2024? https://lnkd.in/gvDuWeQC from The Economist The Economist has compiled data on five economic and financial indicators—GDP, stockmarket performance, core inflation, unemployment and government deficits—for 37 mostly rich countries. They then ranked each economy based on its performance on these measures to create a combined score. The table below shows these rankings. 🇪🇸 Spain is the winner!! #spain #economy

He assured that once the economy is rebased by early 2025 to capture its dynamism and record significant changes that have occurred in different sectors, the country will be on its way to shared prosperity.