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The National Institute for Economic and Social Research (NIESR) announced its forecast for UK GDP growth in the first two quarters of this year. According to its estimates, in the first quarter, the growth will be at the level of 0.4%, and if current trends continue in the future, GDP in the second quarter will increase by 0.3%. According to the Office for National Statistics, the British economy for the period from December to February showed an increase of 0.3%, while NIESTR had predicted growth for this period only by 0.1%. Nevertheless, NIESTR experts expect a modest rate of economic growth in the first half of this year, which is due to the withdrawal of the UK from the European Union, as well as a slowdown in the growth of the global economy. At the same time, experts note that the decision on the issue of concluding a deal with the EU before Brexit will have a significant impact on the further development of the country's economy.
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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