All articles tagged with #economic boom
The article reports that core inflation has reached its lowest level in nearly five years, with prices for various goods and services falling and wages rising, indicating a strong economic recovery under President Trump, contrary to expectations and previous inflation concerns.
The upcoming opening of a grand Hindu temple in Ayodhya, India, is sparking an economic boom in the city, with hotels and real estate firms investing heavily in anticipation of increased tourism. However, some locals, particularly Muslims and the poor, feel neglected and left out of the development. Land prices have soared, displacing residents and offering scant compensation. The Muslim community, which was promised suitable land for a new mosque, feels excluded from the downtown development. Despite this, hospitality groups and property developers see significant opportunities in Ayodhya, which is expected to become a pilgrimage destination for India's Hindu population.
UBS Global Wealth suggests that instead of a repeat of the "Roaring 20s," the current economic outlook resembles a 1990s-style boom. Despite concerns over inflation and rate shocks, the economy grew 4.9% in Q3 2022. UBS compares the current hiking cycle to that of 1994, predicting a soft landing in 2024 with modest rate cuts. While there are differences from the Clinton era, UBS believes something significant is happening in the US economy. U.S. stocks have been under pressure from rising benchmark rates, but the S&P 500, Dow Jones, and Nasdaq have shown positive performance this year.