Category: forecast

IMF Again Cuts US 2022 Growth Forecast to 2.3 Percent as Consumer Spending Cools

WASHINGTON—The International Monetary Fund on Tuesday warned that avoiding recession in the United States will be “increasingly challenging” as it again cut its 2022 U.S. growth forecast to 2.3 percent from 2.9 percent in late June as recent data showed weakening consumer spending. The Fund also cut its 2023 real GDP growth forecast to 1.0…


PepsiCo Says Snacks, Sodas Could Get Pricier After Scant Consumer Pushback

PepsiCo Inc. raised its full-year revenue forecast on Tuesday and said it could increase prices further in the coming months, with the beverage giant seeing little impact on demand for its sodas and snacks despite decades-high inflation. The company’s shares rose 1.5 percent to $173 in morning trading. Pandemic-induced disruptions to the global supply chain…


IMF Slashes US Growth Forecast, Sees ‘Narrowing Path’ to Avoid Recession

WASHINGTON—The International Monetary Fund on Friday slashed its U.S. economic growth forecast as aggressive Federal Reserve interest rate hikes cool demand but predicted that the United States would “narrowly” avoid a recession. In an annual assessment of U.S. economic policies, the IMF said it now expects U.S. Gross Domestic Product to grow 2.9 percent in…


Apple, Tesla Supplier TSMC Forecasts Strong 2022 Growth

Taiwan Semiconductor Manufacturing Company Ltd., which supplies chips to the likes of Apple, Inc. and Tesla, Inc., is purportedly weathering external risks fairly well and is confident of seeing strong growth in 2022. What Happened TSM expects revenue growth to accelerate from 24.9 percent in 2021 to 30 percent in 2022, the foundry’s chairman Mark Liu said…


IEA Marginally Cuts Global Oil Demand Forecast on Mired Outlook Due to China COVID-19 Lockdown, Russia-Ukraine War: FT

The International Energy Agency (IEA) has lowered its global oil demand forecast amid surging coronavirus cases in China and weaker than expected demand in the U.S. and other developed countries. According to the Financial Times report, The agency now expects demand to average 99.4 million barrels a day this year, down from its previous estimate…


Shanghai COVID-19 Curbs Prompt Half of US Firms in China to Cut Revenue Forecasts: Survey

SHANGHAI—More than half of U.S. multinational companies in China have reduced their annual revenue projections, mostly due to the recent COVID-19 outbreak in Shanghai, according to a joint survey by the American Chambers of Commerce in Shanghai and Beijing published on Friday. Responses to the survey, conducted with 167 companies operating throughout China including 76…


Beyond Meat Shares Fall on Dimmer Than Expected Forecasts

Beyond Meat Inc. forecast annual revenue below estimates on Thursday, hitting its share price, as it faced stiffer competition amid flat demand for plant-based protein. The California-based company said it expects revenue of $560 million to $620 million for 2022, compared with estimates of $637.3 million, according to Refinitiv IBES data. Sales to U.S. grocers,…


JPMorgan Raises Annual Forecast for Net Interest Income to $53 Billion

JPMorgan Chase & Co. expects its net interest income to grow to $53 billion in 2022, up nearly $3 billion from its prior forecast, Chief Financial Officer Jeremy Barnum said on Friday at a conference hosted by Credit Suisse.


German Government Cuts 2022 Economic Growth Forecast to 3.6 Percent

BERLIN—The German government on Wednesday cut its growth forecast for this year, but said that Europe’s biggest economy remains “robust” and will return to its pre-pandemic size in 2022. The Economy Ministry predicted that gross domestic product will grow by 3.6 percent, down from the 4.1 percent Germany’s previous government forecast in late October. The…


Nasdaq Futures Jump 2 Percent After Microsoft’s Strong Forecast; Fed Decision Looms

U.S. stock index futures jumped on Wednesday following two days of turbulent trading, helped by stellar results from Microsoft, while investors looked to the outcome of the Federal Reserve’s policy meeting. Microsoft Corp. gained 3.9 percent premarket after the Windows maker forecast revenue for the current quarter broadly ahead of Wall Street targets, driven in…