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The Swiss economy grew in the fourth quarter by 0.2% after a decline of 0.3% a quarter earlier, the State Secretariat for the Economic Affairs reported. Experts had predicted a more significant increase - by 0.4%. Compared to the same period in 2017, GDP growth was 1.4%. Its pace slowed compared with a 2.4% growth in the third quarter. The annual growth rate also did not reach the experts' estimate of 1.7%. The main reason for the return of the Swiss economy to growth in the last quarter of 2018 was a significant increase in exports of goods, which was 5.6% after a decline of 4.1% in the previous quarter. Imports of goods also showed an increase of 0.6%. However, the services sector showed a decrease in exports by 2.6%, and imports - by 2.7%. Growth in consumer spending was at the level of 0.3%, government spending - at the level of 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 ...
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