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In the first quarter, the UK economy increased by 0.1% in annual terms, showing the weakest growth since the end of 2012, which was due to snow weather that affected the volume of construction and retail sales. This is evidenced by preliminary data from the Office for National Statistics. Analysts had forecast an increase of 1.4%. The economic downturn in the construction sector fell by 3.3%. Growth by 0.3% was recorded in the services sector , in the processing industry - by 0.2%, in industrial production - by 0.7%. After the publication of data on the GDP, traders' assessment of chances that the Bank of England will raise interest rates next month fell to 27% from 56% on Thursday.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
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 ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
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