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The South African economy in the third quarter came out of recession, showing a growth of 2.2% compared to the second quarter. This is indicated by official data. In the previous two quarters, GDP fell in the country. Compared to the third quarter of last year, GDP growth was 1.1%, accelerating compared with a rise of 0.4% a quarter earlier. Quarterly growth contributed to a significant rise in the manufacturing and agricultural sectors. Growth in the manufacturing sector was 7.5%. The agricultural sector expanded by 6.5%. At the end of the year, the Central Bank of South Africa expects an increase in the economy by less than 1% compared to 2017.
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 ...
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 ...
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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