GDP News The World Bank cuts global GDP outlook for 2020 The World Bank has cut its global GDP growth forecast for 2020 due to the ongoing coronavirus pandemic. The World Bank now expects the global economy to contract by 5.2 percent this year, a downgrade from its April forecast of a 3 percent contraction. The World Bank said that the pandemic had caused “an unprecedented shock” to the global economy and “far-reaching economic, social, and political consequences.” The bank warned that the global economy could face a significant risk of a “protracted recession” if the pandemic is not contained. It also warned that the economic impact of the pandemic could have long-lasting effects on the wellbeing of individuals and societies. The World Bank also warned that the global economic recovery could be “sluggish” and “uneven” as countries struggle to contain the virus and address the economic fallout. It emphasized the importance of continued fiscal and monetary policy support to help countries and businesses weather the crisis. The World Bank also highlighted the need for an effective international response to the crisis, including an “ambitious” and “coordinated” global effort to
Despite volatility in the market, Shankar Sharma continues to remain bullish towards small and mid caps as opposed to large caps, that may inevitably suffer in a withering economy. This is because, small caps are largely devoid of influences from the macro, he said. "If you are an individual investor, you needn't worry about valuation premiums shrinking or expanding, especially after last quarter's soft GDP numbers," said Sharma, director and founder, GQuant Investech Pvt.
According to data available with the Ministry of Statistics and Programme Implementation (MoSPI), Uttar Pradesh, under the leadership of CM Yogi Adityanath, expects to be the top performer
THE PHILIPPINE ECONOMY is expected to grow at a slower pace this year, reflecting the high unemployment, rising interest rates, and elevated inflation. In a report, McKinsey & Co. Philippines said gross domestic product (GDP) may expand by around 5.3% this year, although this is a “moving target.” This 5.3% GDP forecast is well below […]
IN 2021, Vietnam overtook the Philippines. Vietnam’s gross domestic product (GDP) per capita, a measure of a nation’s economic output per person, reached $3,756.5, while that of the Philippines’ stood at $3,460.5, according to a World Bank report. By 2025, Vietnam will become third-largest economy in Southeast Asia, surpassing the Philippines and Singapore, according to […]
THE CREATIVE INDUSTRY’S contribution to the Philippine economy slightly dipped in 2022, even as it grew by 12%, the Philippine Statistics Authority (PSA) said on Thursday. Preliminary data from the PSA showed the creative industry’s share to the country’s gross domestic product (GDP) slipped to 7.3% last year from 7.4% in 2021. This was the […]