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The economy of South Africa in the second quarter fell by 0.7% compared to the previous quarter, when there was a decline in GDP by 2.6%, according to official data. The decline for two consecutive quarters indicates that the economy of South Africa entered the period of recession for the first time since 2009. According to analysts' forecasts, the GDP of South Africa was expected to grow by 0.6%. Compared to the same period last year, the country's economy grew by 0.4%, while experts had expected an increase of 1%. After the publication of these statistics on Tuesday at 12:40 Moscow time, the rate of the South African rand fell against the US dollar by 2.5% to 15.23 rand.
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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