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The European Commission confirmed the forecast for GDP growth in the eurozone in 2018 at 2.3%, since, in its view, the weakening of the rise in the first quarter is temporary. The growth forecast for 2019 is kept at the level of 2%. The EC also confirmed the inflation estimates for the current year at 1.5%, for the next year - at 1.6%. Among the favorable conditions for the economic recovery of the eurozone, the European Commission notes an increase in real wages and the creation of new jobs that contribute to the strengthening of consumer demand, as well as the continued growth of investment by companies. EC expects strong growth, both in various sectors of the economy, and in individual countries. Among the threats to the economy, the report notes trade disputes and increased protectionism.
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
On Thursday, the international market had seen a plummet in the value of Asian shares and U.S. stock futures. It is seen to be caused by worries of a falling-out between the United States and China as well as the hit that global economies ...
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