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The US GDP in the first quarter grew by 2.3% in annual terms, preliminary data from the Ministry of Commerce showed. Compared to growth in the fourth quarter of 2017, the rate of economic growth slowed by 2.9%. Nevertheless, the dynamics turned out to be better than the forecasts of analysts, who on average had expected the growth rate of 2%. The PCE Core index grew by 2.5%, showing the fastest pace since 2011. Investments in housing construction did not change. State spending grew by 1.2%. The growth of investments in fixed assets amounted to 6.1%, expenditure on equipment – to 4.7%. Exports grew by 4.8%, imports - by 2.6%.
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 ...
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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