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The economy of the Russian Federation in the first quarter increased by 0.5% compared to the same period a year earlier, continuing to slow down in the fourth quarter of last year, the Federal State Statistics Service reported. This growth rate was the lowest since the fourth quarter of 2017. The main reason for the slowdown is the reduction in trade turnover in real terms. At the same time, production in industry increased by 0.6%, in the transport and logistics complex - by 0.2%. According to a preliminary assessment of the Ministry of Economic Development of the Russian Federation, it was assumed that GDP grew by 0.8% in the first quarter. The Bank of Russia also expected more significant growth in the first quarter. According to its forecast, GDP should have increased in annual terms by 1-1.5%
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 ...
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, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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