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Japan’s economy succumbed to recession for the first time in 4 -1/2 years, placing the country on track for its sharpest demand slump as the COVID-19 pandemic disrupts businesses and consumers.
First-quarter figures highlighted the grave impact of the coronavirus pandemic, with slump in export hitting its lowest level since the 2011 earthquake. More so, quarantine restrictions and supply chain disruptions greatly affected Japanese shipments.
Gross domestic product (GDP) figures showed an annualized 3.4% decline in the first quarter, far smaller than the median market forecast of a 4.6% drop.
Analysts rendered a grimmer outlook for the second quarter as demand dropped on the implementation of global lockdowns back in April. This would prompt policymakers to increase enforcements and financial supports as the deadly virus continues to press.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
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 ...
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 ...
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, ...
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 ...
KYC Policy