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The new forecast for German GDP growth for the current year, compiled by experts from five leading German research institutes, has been lowered 2 times compared with the autumn forecast from 1.9% to 0.8%. For 2020, the growth forecast is maintained at 1.8%. At the same time, the joint statement of the institutes states that their forecast was made at the end of March, when there was still hope that the “tough” Brexit could be avoided. Currently, the likelihood of such a scenario is extremely low. If the UK leaves the European Union without an agreement, a stronger slowdown in economic growth should be expected both this year and next. The GDP growth forecast for Germany from the independent Economic Council under the German government for 2019 was also lowered from 1.5% to 0.8%.
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 ...
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 ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
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