Amidst increasing inflation and high interest rates, the US economy grew at strong annual pace of 3.2% in the quarter 3 of 2022 (i.e. July through September). This growth is higher than what was estimated and anticipated earlier. This unexpected increase in GDP signifies a return to growth after successive decline in the first two…
The International Monetary Fund (IMF) revised its global growth forecast for the 2023 and 2024. According to its latest update economy will grow at 2.9% in 2023 and at 3.1% in 2024. The global economy grew at 3.4% in 2022. The director of the research department at the IMF Pierre-Olivier Gourinchas said, “Growth will remain…
The two largest economies in South America are Argentina and Brazil are discussing about creation of a common currency, as a coordinated effort to reduce dependency on the U.S. dollar. The analysts are dismissing the proposal due to discrepancies between the economies of the two nations and because of rapid political shifts in the region. Brazilian…
Microsoft announced a new multibillion-dollar investment with OpenAI which is maker of ChatGPT. This is the third deal between the Microsoft and OpenAI. Microsoft earlier invested in OpenAI in 2019 and 2021. Microsoft said the renewed deal will accelerate the pace of breakthroughs in AI and will help both firms to commercialize advanced technologies in the coming…
