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Japan raised its economic outlook in June for the first time in two years. This followed after the government monitored that the economic drag brought by the novel coronavirus pandemic had nearly come to an end.
The country’s report for June indicated that the economy is still under an extremely severe situation as the pandemic presses further. However, it halted from declining. Though the economy is likely to slide into its sharpest postwar slump, the government’s positive outlook was drawn from upbeat consumer spending and business sentiment.
Prime Minister Shinzo Abe declared the emergency in April, mandating people to stay home and businesses to close to contain the spread of the novel coronavirus.
“The economy is still on a slightly downward trend but the sharp deterioration has ended,” said an official at the Cabinet Office, suggesting that any economic pick-up heavily depends on employment and salary rates.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
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 ...
KYC Policy