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The economy of South Korea in the first quarter of 2019 decreased by 0.4% compared to the fourth quarter. According to the estimates of the South Korean Central Bank, preliminary data of which indicated a reduction in GDP of 0.3%, the quarterly figure was the worst since the fourth quarter of 2008. Compared to the first quarter of 2018, GDP grew by 1.7%, while preliminary data suggested an annual growth of 1.8%. Economists had not expected a revision of the preliminary estimates of the Central Bank. Exports, which accounted for about 40% of GDP, fell by 3.2% over the quarter. In the past quarter, investment in construction also reduced by 0.8%. Investment in capital goods fell 9.1%. At the same time, consumer spending increased by 0.2% and public spending by 0.4%. Production growth was observed in the agricultural and insurance sectors, while the mining and manufacturing sectors recorded a decline.
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 ...
KYC Policy