Economy

The Bank of Korea had already cut its growth outlook for the year by 0.1 percentage points to 2.5 percent last week. To reach that target, the BOK said the local economy will have to grow by around 1.2 percent in the second quarter and by around 0.8 to 0.9 percent in the remaining two quarters. … [Read more...] about S. Korea’s economy contracts 0.3 percent q/q in Q1

At a market in Istanbul, Turkey President Tayyip Erdogan has overseen strong growth during his 15 years in power but the economy is now facing challenges after a sharp decline in the lira, triggered partly by concerns about his influence over monetary policy. … [Read more...] about Turkey’s economy grows 5.2 pct in Q2, set to slow down

The growth was fairly even in three main sectors with agro-forestry-fishery increasing by 4.05 percent, industry-construction posting a 9.7 percent growth rate and services climbing 6.7 percent. Meanwhile, the processing and manufacturing sector witnessed a record growth of 13.56 percent in recent seven years. The economic restructuring is moving in a rational fashion with the agro-forestry-fishery sector accounting for a proportion of 10.34 percent in the economy while the industry-construction and services sectors making up of 35.26 percent and 43.77 percent, respectively. More than 26,700 enterprises were established during January-March, with total registered capital of nearly 278.5 trillion VND (12.25 billion USD), up 1.2 percent in volume and 2.7 percent in value compared to the same time last year. Nearly 7,900 businesses added 485.5 trillion VND to their capital while 8,449 others resumed operations. The economy boasted strong development prospects as the number of … [Read more...] about Vietnam’s economy enjoys auspicious start

The headline index for big manufacturers' sentiment stood at plus 12 in March, worse than plus 19 marked three months ago and a median market forecast of plus 14, the BOJ's closely-watched quarterly "tankan" survey showed on Monday. … [Read more...] about Japan’s business mood slumps to two-year low as trade war hits

Handling Chinese goods at Long Beach port in Los Angeles, the US US President Donald Trump increased pressure on China on Sunday when he announced that US tariffs on certain Chinese products would rise from 10 percent to 25 percent on Friday. … [Read more...] about US to raise tariffs on $200 billion of Chinese goods up to 25 percent

United Nations Headquarters in New York In its mid-year World Economic Situation and Prospects report, the UN said that following an expansion of 3.0 percent in 2018, world gross product growth is now projected to moderate to 2.7 percent in 2019 and 2.9 percent in 2020, reflecting a downward revision of the forecasts released in January. … [Read more...] about UN lowers economic growth forecasts amid high trade tensions, policy uncertainty