The economy of South Korea, according to the final data of the Bank of Korea, grew in the fourth quarter at the fastest pace since the third quarter of 2017, having increased by 3.1% in annual terms. Compared with the previous quarter, its growth was 1%. However, the results of the whole of 2018 showed the slowest GDP growth rate of 2.7% since 2012. The weakening of demand for semiconductors in the world led to a decrease in corporate investment by 1.6%, the volume of which was the lowest in 9 years. The most significant drop in investment in the construction sphere since 1998, the volume of which fell by 4%, also had a negative impact on the economic growth rate. The annual growth rate of consumer spending was at the level of 2.8%. Government spending increased by 5.6%. Exports increased by 4.2%, imports - by 1.7%.
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 ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
South Korea on Wednesday announced that it would scale back its plans to impose capital gains taxes on stock investments after numerous complaints from retail investors. However, taxes will, instead increase for top earners as part of changes ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...