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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
THE BANGKO SENTRAL ng Pilipinas (BSP) revised its balance of payments (BoP) forecasts for this year and 2026 amid heightened global uncertainty. In a statement, the BSP said the overall BoP position is projected to end 2025 at a $6.3-billion deficit or -1.3% of gross domestic product (GDP), wider than the previous forecast of a […]
Last week, on June 26, the Energy Institute (UK) released its annual Statistical Review of World Energy (SRWE) 2025. This has been among my favorite databases and sources of Excel files for many years. So, I start by comparing the power generation of major economies with large gross domestic product (GDP) size at purchasing power […]
UK GDP surprised on the upside with a strong gain of 0.7% in the first quarter. This will be welcome news for the UK government and the BoE but concerns remain that growth will weaken in the second half of the year. In the US, consumer spending declined for the first time since January.
The State Bank of India (SBI) currently adds 1.1 per cent of global GDP and 16 per cent of India's GDP, the nation's largest bank said on Tuesday, adding that in all the government-sponsored social security schemes implementation, the bank now holds more than 25 per cent share. Get more Economy & Infra News and Business News on Zee Business.
In the 2010s, it appeared that US health care expenditures as a share of GDP had peaked. But there group at the Centers for Medicare and Medicaid Services that continually carries out and updates these estimates and forecasts. Their most recent projections suggest that US health spending is about to start rising again as a
Equity markets in Vietnam experienced a 6-point uplift, or a 0.4% increase, reaching 1,391 by midday on Thursday, marking their highest point since April 2022. This surge followed the announcement of a trade agreement between the United States and Vietnam by US President Donald Trump. The accord includes a revised US tariff on Vietnamese imports, reducing the duty from an anticipated 46% to a more favorable 20%, effective next week. This development has been positively received by traders, as the United States stands as Vietnam’s largest trading partner, with exports to the US constituting roughly 30% of Vietnam's GDP in the previous year. The market saw widespread gains, particularly in the consumer non-durable and health services sectors. Notable advances were recorded by Dai Thien Loc Corp, Phuong Nam Cultural, and Duc Long Gia, all appreciating by 7%. Additionally, Vietnam Container Shipping and Truong Thanh Furniture climbed 6.9% and 6.6%, respectively.The material has been provided by InstaForex Company - www.instaforex.com