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The Indian economy, according to official data, grew in the third quarter by 7.1% compared to the previous quarter, when growth was at the level of 8.2%. Estimates by experts suggested a less significant slowdown in growth - up to 7.5%. The increase in gross value added by 6.9% also did not reach the growth of 7.3% predicted by economists. A positive factor for the Indian economy was the acceleration of recovery from 4.3% to 4.8%, noted in 8 infrastructure industries. Production in the processing industry grew by 7.4%, in the agricultural sector - by 3.8%. In the third quarter, there was also an increase in investments in fixed capital of Indian companies. The figure rose 12.5% after rising 10% in the second quarter.
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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