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In the first quarter, in the euro area, wage growth accelerated to 2.5% in annual terms from 2.3% in the previous quarter. This was reported by Eurostat. The weakening of external demand has a negative impact on the euro area economy, while a strong labor market, including wage growth, can support the economy by increasing consumer spending. Wage growth in the first quarter was the most significant since the beginning of 2010. In the specified period, employment also grew, unemployment continued to decline, which increased consumption levels, accelerating economic growth. The wage rate per employee increased in the first quarter by 3% in annual terms, noting the highest growth rate over the past 5 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 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 ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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