Business

S.Korea's Q3 GDP miss forecasts, supply disruptions add pressure

(Corrects typographical error in lede.)FILE PHOTO: A truck drives between shipping containers at a container terminal at Incheon port in Incheon, South Korea, May 26, 2016.REUTERS/Kim Hong-Ji SEOUL (Reuters) – South Korea’s economy grew at a slower-than-expected pace in the third quarter, as subdued private consumption and weak construction and facility investment offset robust exports. […]

Business

New Zealand's economy surges in Q2, supporting rate hike call

WELLINGTON (Reuters) – New Zealand’s economy grew at a much faster pace than expected in the second quarter, officials said on Thursday, reinforcing views that the central bank will start raising interest rates despite a recent outbreak of the coronavirus.FILE PHOTO: An empty street is seen as a lockdown to curb the spread of cases […]

Economy

Japan's economy rebounds in April-June, Covid-19 clouds outlook

TOKYO (REUTERS) – Japan’s economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic’s initial hit. But many analysts expect growth to remain modest in the current quarter as state of emergency […]

Business

Taiwan expects fastest growth in a decade this year on export boom

TAIPEI (Reuters) -Taiwan’s economy will grow at its fastest pace in more than a decade in 2021, the statistics office said on Friday, upgrading its outlook on a strong rebound in exports for the tech heavyweight island.Slideshow ( 2 images )The revision came as the statistics office bumped up its export growth forecast for this […]

Economy

Covid-19 resurgence turns Singapore growth outlook murkier

SINGAPORE – The jagged pace of recovery, marred by Covid-19 resurgence in Singapore and elsewhere, has clouded the growth outlook. The progress in vaccination, especially in major economies like the United States and China, raises hope that external demand will hold and continue to lift Singapore’s trade-dependent manufacturing sector that has so far led the […]

Economy

Has China's economy fully recovered from Covid-19?

BEIJING (REUTERS) – China’s economy expanded by a dizzying 18.3 per cent in the first three months of 2021 from a year earlier, sealing its status as Covid-19’s “first in, first out” economy. It was the only major economy that showed an increase in gross domestic product (GDP) last year after successfully controlling the spread […]

Economy

China economy grows at record 18.3% in first quarter, slightly missing expectations

BEIJING (REUTERS) – China’s economy grew at a record pace in the first quarter, official data showed on Friday (April 16), expanding 18.3 per cent from a year earlier as the recovery from the coronavirus slump accelerated. The growth in gross domestic product (GDP) was slower than the 19 per cent forecast by economists in […]

Business

Mexico's economy in 2020 suffers worst slump since 1930s

MEXICO CITY (Reuters) – Mexico’s economy last year suffered its biggest annual contraction since the 1930s, although it recovered better than expected from the ravages of the COVID-19 pandemic during the final quarter, preliminary data showed on Friday.Workers are seen in a building undergoing construction at Mexico City, Mexico January 30, 2020. REUTERS/Andres Martinez CasaresGross […]

Economy

US economy shrinks 32.9% in worst plunge since Great Depression

WASHINGTON ( BLOOMBERG, REUTERS) – The US economy contracted at its steepest pace since the Great Depression in the second quarter as the Covid-19 pandemic shattered consumer and business spending, and a nascent recovery is under threat from a resurgence in new cases of coronavirus. Gross domestic product (GDP) collapsed at a 32.9 per cent […]

Business

Japan's economy braces for worst postwar slump despite capex gains in first-quarter GDP

TOKYO (Reuters) – Japan’s economy shrank less than initially estimated in the first quarter but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession. A series of recent April data including exports, factory output and jobs figures suggested Japan is facing its worst postwar slump in the […]