Latest news with #economicreport
Wall Street Journal
12 hours ago
- Business
- Wall Street Journal
Gold Could Hit New High Later This Year, Report Says
Gold is likely to hit a new all-time high later this year on U.S.-policy driven economic uncertainty, geopolitical tensions and robust central-bank demand, according to a new report. The yellow metal's average annual price is forecast to rise 35% to $3,210 a troy ounce in 2025, the report by precious-metals consultancy Metals Focus said.
News.com.au
2 days ago
- Business
- News.com.au
Annual GDP rises 1.3 per cent compared to 2024 March quarter
Sky News Business Reporter Edward Boyd reveals Australia's GDP rose 1.3 per cent in the March quarter compared to the March quarter 2024, according to the Australian Bureau of Statistics. 'Economic growth is a bit lower than expected – it is 0.2 per cent in that first quarter and 1.3 per cent at an annualised rate,' Mr Boyd said. 'The ABS says economic growth was soft in the March quarter.'
Arab News
3 days ago
- Business
- Arab News
Pakistan inflation inches up 3.5% year-on-year in May 2025
ISLAMABAD: Pakistan's annual inflation rate rose to 3.5% in May, higher than the April 2025 reading of 0.3%, data from the statistics bureau showed on Monday. On a month-on-month basis, inflation decreased by 0.2% in May 2025, as compared to a decrease of 0.8% in the previous month and a decrease of 3.2% in May 2024. The CPI inflation average during 11MFY25 stood at 4.61 percent, compared to 24.52% in 11MFY24. Inflation has cooled significantly, easing from 37.97% in May 2023. The CPI reading is higher than the government's expectations. In its monthly economic report released last week, the finance ministry expected inflation to ease to between 1.5% and 2% year-on-year in May, before picking up to 3%-4% in June. 'Improved weather conditions, better crop yields and a stable exchange rate have helped reduce inflation to a historical low,' the finance ministry report had said, adding that 'inflation is projected to remain between 1.5-2.0% in May, with a possible rise to 3.0-4.0 percent by June 2025.' The latest CPI reading was also higher than projections made by several brokerage houses. JS Global projected Pakistan's headline inflation to inch up to 2.7% in May. 'Pakistan's CPI is expected to clock in at 2.7 percent for May. The base effect is now fading, signaling a return to normalized price trends. This is likely to take 11MFY25 average inflation to 4.7%, down from 11MFY24 average of 24.9%,' JS Global had said in a report. Last month, the State Bank of Pakistan cut the key interest rate by 100 basis points (bps) to 11%, the lowest policy rate since March 2022 (9.75%). The central bank has cut the rate by 1,100 bps since June from an all-time high of 22%.
Arab News
29-05-2025
- Business
- Arab News
Pakistan projects 3-4% inflation next month ahead of June 10 budget
KARACHI: Pakistan expects inflation to pick up to between 3 percent and 4 percent in June, the Finance Ministry said in its monthly economic report released Thursday, as the country prepares to announce its federal budget for the fiscal year 2025-26 on June 10, a date that falls during the Eid Al-Adha holidays. The ministry said consumer price inflation was projected to ease between 1.5 percent and 2 percent year-on-year in May, following months of steady decline driven by monetary tightening and a drop in food and energy prices. However, it noted that inflationary pressures could resurface slightly next month due to seasonal factors and base effects. 'Improved weather conditions, better crop yields and a stable exchange rate have helped reduce inflation to a historical low,' the report said, adding that 'inflation is projected to remain between 1.5-2.0 percent in May, with a possible rise to 3.0-4.0 percent by June 2025.' The State Bank of Pakistan, in its half-yearly report last month, forecast average inflation for the fiscal year ending June 2025 to remain within 5.5 percent to 7.5 percent, reflecting easing cost pressures across key commodities. Finance Adviser Khurram Schehzad on Thursday confirmed the official timeline for the country's fiscal announcements in a social media post aimed at dispelling speculation about possible delays due to the Eid Al-Adha holidays. 'The dates are firm,' he said on platform X. 'As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025. Similarly, the upcoming Pakistan Economic Survey FY25 is scheduled to be announced on June 9, 2025.' Pakistan's macroeconomic outlook has improved in recent months, supported by a stronger current account balance, improved remittances and falling inflation. However, authorities remain cautious as they seek to build on recent economic stabilization, steer the country toward gradual growth and reaffirm their commitment to ongoing economic reforms. With input from Reuters
Malay Mail
16-05-2025
- Business
- Malay Mail
Malaysia's GDP grew 4.4pc in first quarter as household spending, job market stay robust
KUALA LUMPUR, May 16 — Malaysia's gross domestic product (GDP) grew by 4.4 per cent in the first quarter of this year, Bank Negara Malaysia announced today, confirming initial estimates that cited resilient household spending, a strong job market, and continued export growth as key drivers. Private consumption expanded by 5 per cent between January and March compared to the same period last year, although this was slightly lower than the 5.3 per cent growth recorded in the previous quarter. More to come
