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Sweden's GDP in the third quarter fell by 0.2% compared to the second quarter, when there was an increase of 0.5%. As the statistical office of the country reported, the decline in the economy is observed in Sweden for the first time after twenty quarters of continuous growth. Analysts had not expected a decline, they had predicted an increase in GDP by 0.3%. Relative to the same period last year, the economy grew by 1.6%, with a 2.3% rise expected by analysts. Consumer spending declined by 1.5% compared with the previous quarter, while government spending remained unchanged. Exports increased by 0.3%, imports decreased by 0.6%.
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 ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
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