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The US Commerce Department reported that the US economy grew 3.5% year-on-year in annual terms after rising 4.2% a quarter earlier. Thus, economic growth in the country has slowed. Experts had expected an even more significant slowdown – up to 3.3%. At the same time, consumer spending growth by 4%, which became a record since the 4th quarter of 2014, exceeded the growth predicted by analysts by 3.3%. US companies increased their investment by 0.8%. The size of their investments in equipment increased by 0.4%, in intellectual property – by 7.9%. The federal government increased defense spending by 4.6%. For other needs, expenses increased by 1.5%. In the third quarter, exports decreased by 3.5%, including the fall in exports of goods amounted to 7%, while exports of services increased by 3.5%. The volume of imports increased by 9.1%.
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 ...
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 ...
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, ...
KYC Policy