Economic Forecast


Experts Say ChatGPT to Fuel $1.3 Trillion AI Market by 2032

The release of generative artificial intelligence systems that are focused on solving problems, and satisfying various groups of consumer needs, for example, ChatGPT from OpenAI and Bard from Google will ensure a high level of development of the generative AI market over the next decade and will bring its financial volume to $1.3 trillion by […]

Finance & Economics

US Passes Bill to Avoid Default: What to Expect?

The US House finalized a bill to suspend the debt ceiling on Wednesday, just days left before the country was expected to default. What comes next for the national debt and financial markets?

Finance & Economics

Germany Falls Into Recession

Germany has slipped into recession amid a decline in consumer spending after last year’s shock in energy prices.

Finance & Economics

Goldman Strategists See Potential Profit Boom From AI

Strategists at Goldman Sachs Group Inc. believe that artificial intelligence can become a solid foundation for long-term profit growth in the United States.

Finance & Economics

Argentina Inflation Reaches All-Time High

The annual inflation rate in Argentina surged more than analysts expected, remaining at the highest level since 1991 and marking a perilous milestone for this Latin American economy Argentina’s state-run INDEC statistics agency said that the inflation rose 108.8% year-on-year in April 2023, the third month in a row since the inflation growth surpassed 100% for […]

Finance & Economics

Janet Yellen Warns of US Cash Shortage Risk by June

US Treasury Secretary Janet Yellen said there is a risk that the US will run out of cash by June 1 if Congress does not decide to raise or suspend the debt ceiling.

Fintech & Ecommerce

Mobile Money Grows Faster Than Expected: Report

The number of registered mobile money accounts globally rose by 13% in 2022, while total mobile money transaction values grew to $1.26 trillion


Citizens Financial CEO Says Regional Banks Can Compete

Bruce Van Son, CEO of Citizens Financial Group, speaking on the Bloomberg Baystate Business Hour podcast, said that regional banks have the potential to fully compete with larger representatives of industry.


Main Street Merchant Recession Expectations Match Fed

Main Street is preparing for economic problems amid the consequences of the coronavirus pandemic and inflation.


Yellen Warns Banks Could Pull Back on Lending

The US Treasury Secretary reported on the high probability of a change in the approach of local financial institutions to lending in the direction of tightening.


IMF Lowers Forecast for Global Economic Growth After Banking Crises

The consequences of the coronavirus pandemic, which have not yet been fully overcome by the financial and industrial sectors, and the pressure factor in the form of banking crises have a negative impact on the prospects for economic growth.


World Bank Cuts 2023 Global Growth Estimates

The World Bank’s latest “Global Economic Prospects” report predicts 2023 global growth to slow to 1.7% from the 3% expected six months ago

Finance & Economics

US Banks to Report Profit Decline, Prepare for Recession

Major US banks are expected to show a net profit decline in their quarterly earnings reports to be released on Friday, while the industry is getting ready for an economic slowdown


European Governments to Increase Borrowing by 10% in 2023

Investors expect European countries to flood the market with new debt in 2023 as the governments will shield their economies from high energy costs


OECD Says Global Economy May Avoid Recession in 2023, More Interest Rate Hikes Needed

ECB should narrow the interest-rate gap with the US Fed, as inflation is unlikely to fall back quickly

Science & Technology

Credit Card Payments in South Korea to Reach $900 Billion by 2026: GlobalData

Credit cards are the most preferred payment choice in South Korea, worth nearly 80% of total card payments value in 2022

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