ILEA001017398: New Zealand GDP increases 1.7 pct in Q2

South Africa's GDP up 0.6 pct in 2023

STORY: South Africa's GDP up 0.6 pct in 2023 SHOOTING TIME: March 5, 2024 DATELINE: March 8, 2024 LENGTH: 00:01:47 LOCATION: JOHANNESBURG, South Africa CATEGORY: ECONOMY SHOTLIST: 1. various of South Africa 2. various of Statistics South Africa STORYLINE: South Africa's economy remained muted, with its real gross domestic product (GDP) growing 0.6 percent in 2023 after expanding 1.9 percent in 2022, official data showed Tuesday. The finance, real estate and business services industry was the main star in 2023, growing 1.8 percent and contributing 0.4 percentage points to GDP growth, according to Statistics South Africa (Stats SA). Personal services, transport, storage and communication, manufacturing, construction, and government services also helped keep the economy in positive territory, according to Stats SA. South Africa's construction sector saw its first positive year since 2016, expanding 0.6 percent, while both the mining and electricity, gas, and water sectors were down for a second ye

Italy's Q4 2023 GDP records growth: ISTAT

STORY: Italy's Q4 2023 GDP records growth: ISTAT SHOOTING TIME: March 6, 2024 DATELINE: March 7, 2024 LENGTH: 00:00:54 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of street view in Rome STORYLINE: Italy's gross domestic product (GDP) increased by 0.2 percent in the fourth quarter (Q4) of 2023 over the previous quarter, and by 0.6 percent year-on-year, the National Institute of Statistics (ISTAT) said Tuesday. The quarter-on-quarter figure matched ISTAT's preliminary estimate at the end of January, while the year-on-year result was revised up from 0.5 percent. The primary drivers of economic growth are found in the industrial and construction sectors, while the agricultural sector saw a slight contraction, partly due to the impacts of extreme weather that affected Italy for much of last year. The services sector also experienced a slight decline, according to ISTAT. Xinhua News Agency correspondents reporting from Rome. (XHTV)

OECD urges reforms in Italian economy report

STORY: OECD urges reforms in Italian economy report SHOOTING TIME: Jan. 22, 2024 DATELINE: Jan. 23, 2024 LENGTH: 00:00:50 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of screenshots of the report 2. various of street views in Rome STORYLINE: The Organization for Economic Cooperation and Development (OECD) on Monday released a report on Italian economy, suggesting an array of reforms that it said would help the country avoid an economic slowdown. The Italian government's statistics entity has estimated that the country's economy grew 0.7 percent in 2023, slightly better than the EU estimate of 0.6 percent for the eurozone. In its report, the OECD said Italy was at risk of slower growth if it did not make certain reforms, including scaling back pensions for the wealthiest residents. "Reducing the generosity of pensions for high-income households could limit the increase in spending (on pensions), while maintaining adequate public services and social protections," the report said. The

UK economy expands by 0.3 pct in November: ONS

STORY: UK economy expands by 0.3 pct in November: ONS SHOOTING TIME: file DATELINE: Jan. 13, 2024 LENGTH: 00:01:23 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping in London STORYLINE: The United Kingdom's (UK) economy expanded by 0.3 percent month-to-month in November 2023, following a fall of 0.3 percent in October, the Office for National Statistics (ONS) said on Friday. Services output grew by 0.4 percent in the month and was the main contributor to the monthly growth, according to the ONS. Production output rose by 0.3 percent while the construction sector fell by 0.2 percent. The country's gross domestic product (GDP) bounced back in November, led by services with retail, car leasing and computer games companies all having a buoyant month, ONS chief economist Grant Fitzner said. In the three months to November, the country's GDP fell by 0.2 percent. Widespread falls were recorded across manufacturing industries, which were partially offset by the increases in public servi

U.S. Q3 GDP growth revised down to annual rate of 4.9 pct

STORY: U.S. Q3 GDP growth revised down to annual rate of 4.9 pct SHOOTING TIME: Dec. 21, 2023 DATELINE: Dec. 22, 2023 LENGTH: 00:01:51 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of U.S. Department of Commerce 2. various of San Francisco STORYLINE: The U.S. real gross domestic product (GDP) growth in the third quarter of 2023 was revised down to an annual rate of 4.9 percent in its third and final estimate, the Commerce Department reported on Thursday. In the "advance" estimate, U.S. GDP in the third quarter grew by an annual rate of 4.9 percent, and the figure was revised up to 5.2 percent in the second estimate. The update primarily reflected a downward revision to consumer spending. Imports, which are a subtraction in the calculation of GDP, were revised down. The increase in real GDP reflected increases in consumer spending, private inventory investment, exports, state and local government spending, federal government spending, residential fixed investment, and nonresidential fi

South African economy contracts marginally in Q3

STORY: South African economy contracts marginally in Q3 SHOOTING TIME: Dec. 5, 2023 DATELINE: Dec. 7, 2023 LENGTH: 00:02:22 LOCATION: JOHANNESBURG, South Africa CATEGORY: ECONOMY SHOTLIST: 1. various of the conference 2. SOUNDBITE (English): RISENGA MALULEKE, Statistician General, STATS SA STORYLINE: After two consecutive quarters of growth, South African real gross domestic product (GDP) contracted by 0.2 percent in the third quarter (July-September) of 2023. The contributions to the performance of the economy were evenly spread between the industries on the production side of the economy. The contributions ranged from -0.3 of a percentage point to +0.1 of a percentage point. On the household front, strained consumers cut back on consumption expenditure for a second consecutive quarter, reducing their spending on items such as transport, recreation and housing utilities, while spending more on items such as clothing & footwear and restaurants & hotels. SOUNDBITE (English): RISENGA MALULEKE, Statisticia

Australia's economic growth slows to 0.2 pct in Q3

STORY: Australia's economic growth slows to 0.2 pct in Q3 SHOOTING TIME: Dec. 6, 2023 DATELINE: Dec. 7, 2023 LENGTH: 0:00:41 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Australia 2. various of market, park, bank and train station in Australia STORYLINE: Australia's economic growth slowed to 0.2 percent in the third quarter of 2023. According to the Australian Bureau of Statistics on Wednesday, Australia's gross domestic product (GDP) rose 0.2 percent in the third quarter. It marked the eighth straight quarter of economic growth but a fall from 0.4 percent growth in the three months to the end of June. The Australian Associated Press reported that economists had projected economic growth of 0.5 percent in the September quarter. In the 12 months to the end of September, Australia's GDP grew 2.1 percent, the data showed. Responding to the data, Treasurer Jim Chalmers said in a statement that the economic slowdown was an inevitable consequence of higher inter

Sweden enters recession with GDP shrinking 0.3 pct in Q3

STORY: Sweden enters recession with GDP shrinking 0.3 pct in Q3 SHOOTING TIME: Nov. 29, 2023 DATELINE: Nov. 30, 2023 LENGTH: 00:02:29 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of Statistics Sweden 2. various of Nordea Bank 3. various of Handelsbanken 4. various of street view of Stockholm STORYLINE: The Swedish economy is in recession following a contraction in the third quarter (Q3), according to official statistics released on Wednesday. The gross domestic product (GDP) decreased by 0.3 percent in Q3 compared with the previous quarter and by 1.4 percent compared with Q3 in 2022, Statistics Sweden said. "GDP decreased for the second consecutive quarter," Jessica Engdahl, head of section at Statistics Sweden's National Accounts Department, said in a press release. The decrease in Q2 was 0.8 percent from Q1 and 1 percent year-on-year, according to revised figures released by Statistics Sweden in August. The Q3 downturn was mainly driven by changes in inventories, particularly decreased

New Zealand sees annual inflation at 5.6 pct

STORY: New Zealand sees annual inflation at 5.6 pct DATELINE: Oct. 17, 2023 LENGTH: 00:01:37 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of ports 2. various of streets STORYLINE: New Zealand's consumer price index increased 5.6 percent in the 12 months to the September 2023 quarter, according to the statistics department Stats NZ on Tuesday. The 5.6 percent increase follows a 6 percent increase in the 12 months to the June 2023 quarter, Stats NZ said. "Prices are still increasing, but are increasing at rates lower than we have seen in the previous few quarters," Stats NZ consumers prices senior manager Nicola Growden said. Food was the largest contributor to the September 2023 quarter annual inflation rate, Growden said, adding this was due to rising prices for ready-to-eat food; milk, cheese, and eggs; and bread and cereals. The next largest contributor to the annual increase was housing and household utilities, which was due to rising prices for construction and rents, Gro

New Zealand's food prices up 8 pct annually

STORY: New Zealand's food prices up 8 pct annually DATELINE: Oct. 14, 2023 LENGTH: 00:01:26 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of street views of Wellington 2. various of supermarkets STORYLINE: Food prices in New Zealand were 8 percent higher in September than in the same period last year, according to the statistics department Stats NZ on Thursday. The largest contributing food group was grocery food, which includes non-perishables and dairy products, said Stats NZ's consumer prices manager James Mitchell. "Fresh eggs, potato crisps, and lollies were the largest drivers within grocery food," Mitchell said. In September 2023, the annual increase was due to rises across all the broad food categories measured by Stats NZ. Monthly food prices fell 0.4 percent in September compared with the previous month, Mitchell said. "Decreasing prices for fruit and vegetables such as tomatoes, cucumbers, and lettuce contributed the most to the overall monthly fall," he said. Xi

New Zealand GDP increases 1.7 pct in Q2

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