In the second quarter of 2023, real GDP in the euro zone grew by 0.3% on a quarterly basis—the sharpest expansion since the second quarter of 2022—and by 0.6% on an annual basis, according to flash estimates. This followed quarterly growth of 0.1% in the first quarter. .
The analysis and forecasts featured in this piece can be found in EIU’s Country Analysis service. .
Nigeria’s foreign-exchange reserves, officially reported as equivalent to 7.8 months of imports, are an important cushion against external payment risks..
Latin America’s six largest economies have put in mixed performances in terms of GDP growth this year. Brazil and Mexico have proven more resilient to high inflation and interest rates than we had initially expected, the former buoyed by a bumper harvest and the latter by stronger than expected US demand for its exports. However, Argentina, Chile, Colombia and Peru have all fared worse, reflecting a drought-related hit to agriculture (Argentina) and to mining (Chile), as well as political difficulties. Political instability will continue to weigh on Peru’s outlook, as localised protests will affect mining operations. .
deliver GDP growth in the range of 3‑4% in the second half of 2023 and about 4% in 2024. The strengthening domestic demand will keep the central bank cautious..
In EIU’s latest Global Outlook video, director of forecasting and economics, Tom Rafferty, and senior analyst, Cody Feldman, discuss global critical mineral diversification efforts, notably the role of China and areas of opportunity for other countries..
On August 24th in South Africa, the annual summit of the BRICS group (comprising Brazil, Russia, India, China and South Africa) accepted applications from six other countries—Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE—to become full members on January 1st 2024..
The regulatory disclosure of ESG information has accelerated in the first half of 2023 as organisations and governments propose and adopt internationally aligned regulations..
Hydrogen is a key technology for achieving climate change goals and many governments are rushing to boost production capacity, setting ambitious targets..
Second-quarter real GDP stagnated on a quarterly basis, following mild contractions in the previous two quarters. Household consumption stabilised after declining over the 2022/23 winter, while net exports were a modest drag on growth..