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Italy's GDP declined in the fourth quarter by 0.1%, as well as in the third quarter, Istat's final data showed. These data pointed to a technical recession in the Italian economy. According to experts, in the fourth quarter, GDP was expected to fall by 0.2%. Among the eurozone countries, only Italy is experiencing a recession. The Association of Italian Entrepreneurs expects a further decline in March due to a further decline in industrial production. At the same time, the February growth of the purchasing managers index in the service sector was unexpected, according to Markit Economics and ADACI, to 50.4 points from the January value of 49.7 points. Consolidated PMI, which rose to 48.8 points, also surpassed the forecast of the economists, who had expected a drop to 48.6 points.
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 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
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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