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The Bank of Korea published preliminary data on the state of the economy in the first quarter, which showed a decline in GDP by 0.3% compared to the fourth quarter of last year and its growth by 1.8% compared with the same quarter a year earlier. In the previous quarter, the economy grew by 1% in quarterly terms and by 3.1% in annual terms. According to economists' forecasts, in the first quarter the first indicator was expected to grow by 0.3% and the second one - by 2.4%. Exports, which account for about 40% of the country's economy, fell by 2.6% compared with the fourth quarter. The decrease was shown by investments in the means of production - by 10.8%, and in construction - by 0.1%. At the same time, South Korea increased public spending by 0.3%, while consumer spending increased by only 0.1%.
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, ...
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 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 ...
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 ...
KYC Policy