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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
UK GDP impresses with 0.7% gain in Q1
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.
SBI's balance sheet size bigger than GDP of 175 countries: Data | Zee Business
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.
US Health Care Expenditures: An Ominous Trend Returns? - Conversable Economist
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
Vietnam Stocks Hit Over 3-Year High on US Trade Deal - ForexTV
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
Vietnam Q2 GDP Growth Strongest in Near 3 Years - ForexTV
Vietnam’s GDP surged by 7.96% year-over-year in the second quarter of 2025, up from a 6.93% increase in the first quarter, hitting the fastest growth since the third quarter of 2022, based on preliminary estimates. This recent figure is just shy of Hanoi’s annual growth ambition, which is set at a minimum of 8%. All sectors demonstrated enhanced growth: services expanded by 8.46% compared to 7.70% in Q1, industry and construction grew by 8.97% against 7.42%, and agriculture rose by 3.89%. During the first half of 2025, Vietnam’s economy expanded by 7.52%, representing the highest first-half growth rate from 2011 to 2025.The material has been provided by InstaForex Company - www.instaforex.com
Vietnam Trade Surplus Narrows in June - ForexTV
In June 2025, Vietnam's trade surplus reduced to USD 2.83 billion from USD 3.2 billion in June 2024. This decline occurred as export growth trailed behind import growth, marking the third consecutive month of surplus. Exports increased by 16.3% year-on-year to USD 39.49 billion, whereas imports rose significantly by 20.2% to USD 36.66 billion. In the first half of 2025, Vietnam achieved a trade surplus of USD 7.63 billion, with exports and imports increasing by 14.4% and 17.9%, respectively. During this time, exports of processed industrial goods amounted to USD 194.28 billion, representing 88.4% of the total exports. The United States continued to be Vietnam's most significant export destination, with trade reaching USD 70.91 billion. Last year, exports to the US accounted for approximately 30% of Vietnam's GDP. A trade agreement was concluded between the US and Vietnam last Wednesday, stipulating that the US will now impose a 20% tariff on Vietnamese imports, reduced from the initially planned 46% duty.The material has been provided by InstaForex Company - www.instaforex.com