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Growth News

Japan economy shrinks for first time since 2009 but tops forecast

Apo - Japan's pandemic-hit economy shrank in 2020 for the first time in more than a decade, but the contraction was less than expected and it ended the year on a strong note thanks to a pick-up in exports and huge government support.

Japan growth slows in Q4 as economy shrinks 4.8% over year

Apo - Japan's economy grew at a slower 3.0% in the October-December quarter, government data showed Monday, as the coronavirus pandemic weighed on the world's third-largest economy.The economy shrank 4.

North Korea's Kim lambasts officials for economic 'defeatism'

Seoul - North Korean leader Kim Jong Un has accused top officials of "self-protection and defeatism" and largely blamed them for the country's economic plight, state media reported Friday.

Pandemic caused worst year for US economy since 1946

Washington - The United States saw its sharpest contraction in growth since 1946 as the coronavirus pandemic hammered the economy last year, but while the country may be set for a recovery, it hasn't arrived yet.The world's largest economy shrunk by 3.

South Korea posts worst growth in two decades

Seoul - South Korea recorded its worst growth in more than two decades in 2020, the central bank said Tuesday, but it is expected to be among the best-performing OECD economies in the wake of the coronavirus pandemic.

China's 2020 GDP growth slowest in over four decades: AFP poll

Shanghai - China's economy grew last year at its slowest pace since transformative market reforms of the 1970s, according to an AFP poll of economists, but finished the year strongly on an accelerating coronavirus recovery.

Virus plunges Brazil into recession with record 9.7% drop

Rio De Janeiro - Brazil's economy, the biggest in Latin America, contracted by a record 9.7 percent in the second quarter of 2020, plunging into recession as coronavirus lockdowns hit home, the official statistics agency said Tuesday.

India economic growth hit by record slump after virus lockdown

Mumbai - India's economic growth suffered a historic 23.9 percent decline between April and June, official figures showed Monday, as manufacturing and productivity were battered by a strict coronavirus lockdown.

German economy shrinks by record 10.1% in Q2 on virus hit

Frankfurt Am Main - The German economy shrank by a record 10.1 percent in the second quarter as coronavirus lockdowns took their toll, official data showed Thursday, but experts say a recovery is already under way.

Germany braces for historic quarterly GDP decline on virus hit

Frankfurt Am Main - The German economy suffered a record slump in the second quarter as coronavirus lockdowns took their toll, official data is set to show Thursday, but experts say a recovery is already under way.

Australia warns economy to shrink record 7% in Q2

Sydney - Australia warned on Thursday that its economy will shrink at its fastest pace in history during the second quarter, while the budget deficit will be the biggest since the Second World War as the country battles to contain the impact of the coronavirus....

China economy rebounds in Q2 after virus hit: AFP poll

Bejing - China returned to growth in the second quarter after the coronavirus pandemic handed the world's second largest economy its first contraction in decades, according to an AFP poll of analysts.

Brazil economy slows in Bolsonaro's first year

Rio De Janeiro - The Brazilian economy slowed in President Jair Bolsonaro's first year in office, according to official data released Wednesday, disappointing news for markets that bet on the far-right leader to engineer an economic take-off.

Chinese economic growth hits three-decade low

Bejing - China's economy grew last year at its slowest pace in three decades, hit by weak domestic demand and trade tensions, but while officials warned of further headwinds, separate figures Friday suggest the downward trend is bottoming out.The 6.

Major US, global cities slowing amid worldwide slump: report

Washington - The blockbuster growth in the world's major cities in recent years will slow sharply in 2020 and 2021 as the global trade slowdown takes its toll, according to new research.

India quarterly growth falls to worst level in six years

Mumbai - India's economy grew at its slowest pace in more than six years in the July-September period, down to 4.5 percent from 7.0 percent a year ago, according to government figures released Friday that piled more pressure on Prime Minister Narendra Modi.

Mexico entered recession this year -- bad news for Lopez Obrador

Mexico - The Mexican economy, Latin America's second-largest after Brazil's, tumbled into recession in the first half of this year and has since remained stagnant, according to revised official data released Monday.

New IMF chief Georgieva says world suffering 'synchronized slowdown'

Washington - Grinding trade disputes are undermining the global economy, which is set to see its slowest growth in nearly a decade, the new IMF chief said Tuesday.

Lagarde urges policymakers to resolve manmade economic threats

Washington - Accustomed to being the first woman in influential leadership positions and speaking frankly to men in power, Christine Lagarde says manmade threats to the global economy can be "man-fixed.

Q&A: majority of firms are missing out on supply chain growth Special

Businesses can do more with digital technology in order to gain greater efficiencies from their supply chains and reduce the risk of counterfeiting occurring, according to industry expert Scott Fletcher from LocatorX.

German Q2 contraction fires calls to boost public spending

Frankfurt Am Main - Germany's economy contracted in the second quarter, figures showed Wednesday, highlighting its vulnerability to trade tensions and stoking a debate on higher government spending.At minus 0.

IMF downgrades world growth, warns of 'precarious' 2020

Washington - Global trade tensions, continued uncertainty and rising prospects for a no-deal Brexit are sapping the strength of the world economy, which faces a "precarious" 2020, the International Monetary Fund warned on Tuesday.

China GDP growth slows to 6.2% in second quarter

Bejing - China's growth slowed to its weakest pace in almost three decades in the second quarter, with the US-China trade war and weakening global demand weighing on the world's number-two economy, official data showed Monday.

Mexico confirms economy shrank in Q1, in blow to 'AMLO'

Mexico - Mexico's economy contracted by 0.2 percent in the first quarter of the year, revised government data confirmed Friday, a rough start for new President Andres Manuel Lopez Obrador.

Mexico confirms economy shrank in Q1, in blow to 'AMLO'

Mexico - Mexico's economy contracted by 0.2 percent in the first quarter of the year, revised government data confirmed Friday, a rough start for new President Andres Manuel Lopez Obrador.

Mexican economy shrinks in new president's first quarter

Mexico - Mexico, Latin America's second-largest economy, registered a surprise 0.2-percent drop in GDP in the first quarter, according to official statistics released Tuesday -- worrying news for President Andres Manuel Lopez Obrador.

IMF cuts US growth forecast, warns of growing risks

Washington - The International Monetary Fund on Tuesday cut its US growth forecast significantly for 2019 but said the United States is still likely to outpace other advanced nations as the world economy slows.

PM says Italy economy probably contracted in Q4 2018

Rome - Italy's Prime Minister Giuseppe Conte said Wednesday that the economy probably contracted in the fourth quarter, which if true would plunge the country into a recession.

China's growth data may mask economic risks: research group

Shanghai - China's GDP growth may be significantly slower than official estimates suggest and its economy more vulnerable to external shocks than widely believed, a global business think tank has warned.

Germany avoids recession despite 2018 growth slowdown

Frankfurt Am Main - Official data suggested Tuesday that Germany avoided a recession at the end of 2018 but confirmed a sharp slowdown in growth last year as Europe's largest economy cooled off from boom times.Economic growth sank to 1.5 percent in 2018 from 2.
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In 2009  the Slovenian economy fell into recession and never quite recovered.
In 2009, the Slovenian economy fell into recession and never quite recovered.
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