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New Zealand's Treasury announced on Thursday that it is likely to revise down its economic and fiscal forecasts due to a persistent slowdown in productivity within the economy. This adjustment reflects ongoing challenges that may impact future growth and financial planning.
New Zealand's economic downturn has exceeded expectations, leading to increased pressure on tax revenues as the government faces challenges in reducing its budget deficit. Chief Economic Adviser Dominick Stephens indicated that further downgrades to economic and fiscal forecasts are likely, with updates set for release on December 17.
Home prices in major Asian markets are projected to rise in 2025, with Hong Kong expected to lead the gains, potentially increasing by up to 10%. Australia’s residential prices are forecasted to grow by 7% to 8%, while Singapore and Japan may see more modest increases of 3% and 2%, respectively.
Deere & Co., the largest farm machinery manufacturer, is expected to report its worst fourth quarter since 2020, reflecting a challenging period for the agricultural sector. Following two years of declining sales from the 2022 peak, uncertainty looms over the impact of President-elect Donald Trump’s policies amidst falling crop prices.
Germany is facing significant anxieties over deindustrialisation, particularly in Baden-Württemberg, home to major companies like Bosch and Mercedes. Minister Danyal Bayaz warns that the country has wasted the benefits of globalisation, leading to underfunding amid rising energy costs and increased competition from China, alongside potential tariffs from the U.S. This precarious situation threatens to collapse Germany's established business model.
McDonald's is set to launch a "McValue" offering in 2025, maintaining its $5 value meal and introducing a "buy one add one" option for $1 more. This initiative aims to retain customers amid rising restaurant costs, despite a recent decline in same-store sales and challenges from an E. coli outbreak linked to slivered onions. The company plans to invest over $100 million to support affected franchisees and enhance marketing efforts.
Egypt has requested a review of the targets set in its $8 billion program with the International Monetary Fund, according to Prime Minister Mostafa Madbouly. He noted that IMF officials have shown understanding of these practical requests. The fund is expected to complete its latest review of Egypt's 46-month program in the coming days.
Wells Fargo anticipates significant stock market gains in 2025, driven by a robust economy and deregulation initiatives under the Trump administration. The outlook reflects confidence in economic growth and favorable market conditions.
India requires a range of bilateral trade agreements to enhance market access and leverage the 'China plus one' strategy in global manufacturing, as highlighted in the Reserve Bank of India's November bulletin. The urgency lies in standardizing negotiations to tackle rules of origin and non-tariff barriers. Over the past five years, imports from FTA partners surged by 37.9%, while exports only rose by 14.5%, indicating a need for a more effective trade approach.
India's Economic Affairs Secretary Ajay Seth stated that despite some moderation in economic indicators, there is "no downside risk" to the government's growth forecast of 6.5% to 7% for the current year. He noted that while certain sectors are slowing, others are experiencing increased demand, reinforcing confidence in the growth estimate.

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