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The Swedish economy grew by 1.2% in the fourth quarter after declining by 0.1% in the previous quarter, official data showed. The quarterly figure exceeded twice the growth by 0.6%, which was predicted by economists and the Swedish Central Bank. Relative to the fourth quarter of the previous year, Sweden’s GDP showed an increase of 2.4%. Its pace accelerated significantly against a 1.5% increase a quarter earlier. Economists also did not expect such significant annual growth. According to their forecasts, the economy was supposed to grow by 1.5%. Over the quarter, exports increased by 3.1%. Imports increased by 1.4%. Growth in consumer spending was at the level of 0.7%, government spending - at the level of 0.6%.
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 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
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 ...
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