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The economy of Scotland, excluding the oil and gas industry in the North Sea, rose 0.2% in the first quarter compared to the previous quarter, when growth was 0.3%, according to the Scottish government. The weak growth of the Scottish economy, however, exceeded the rate of increase in the British GDP, which in the first quarter increased by 0.1%. Compared to the first quarter of last year, the economy of Scotland increased in the first quarter by 0.8%. At the same time, the British economy grew by 1.2%. The independent Scottish Budget Commission expects that the growth rate of the Scottish economy will remain below 1% for another five years.
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 ...
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