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The economy of Nigeria in the first quarter of 2018 increased by 1.95% in annual terms due to increased production and oil prices, according to the National Bureau of Statistics. Compared to the previous quarter, when the recovery was 2.11%, the growth rate in annual terms slowed, but growth was observed for the fourth consecutive quarter. Regarding the fourth quarter of 2017, GDP of Nigeria fell by 13.4%. The volume of oil production in quarterly terms increased by 50,000 barrels per day, in annual terms - by 250,000 barrels per day to 2 million barrels per day. The indicator was the highest since the first quarter of 2016. The oil sector grew in annual terms by 14.77%, non-oil sector - by 0.76%.
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 ...
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, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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