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No annual growth target for virus-hit China, a first in years

Bejing - China's communist rulers avoided setting an annual growth target for the first time in decades Friday, as they struggle to deal with the "immense" economic challenges caused by the coronavirus pandemic.

UK economy shrinks on coronavirus

London - Britain's economy shrank two percent in the first three months of the year, rocked by the fallout from the coronavirus pandemic, official data showed Wednesday, with analysts predicting even worse to come.

China suffers historic contraction as virus paralyses economy

Bejing - China's economy shrank for the first time in decades last quarter as the coronavirus paralysed the country, in a historic blow to the Communist Party's pledge of continued prosperity in return for unquestioned political power.

Virus hands China its first economic contraction in decades

Bejing - China's economy contracted for the first time in decades last quarter as drastic measures to contain the coronavirus pandemic brought activity to a standstill, official data showed Friday.Gross domestic product shrank 6.

US unemployment report won't show full extent of pandemic's damage

Washington - A staggering 10 million US workers have lost their jobs in the second half of March as the coronavirus forced stores and businesses nationwide to close their doors.

Curtain falls on Germany's 'golden decade' of growth

Frankfurt Am Main - German economic growth plummeted in 2019, official data showed Wednesday, providing fresh ammunition for debate about how to use fiscal surpluses to boost gross domestic product.Europe's powerhouse expanded just 0.6 percent last year, compared with 1.

Brazil's economy grows 0.6% in third quarter

Rio De Janeiro - Brazil's economy -- Latin America's largest -- picked up pace in the third quarter, official figures showed Tuesday, beating expectations and offering relief to President Jair Bolsonaro who has made reviving growth a priority.

US job growth resumes in March, letting Trump breathe easier

Washington - US job creation came back to life in March, possibly assuaging recession fears and allowing Donald Trump a sigh of relief.

US government shutdown muddles Canada trade tallies

Ottawa - The Canadian statistical agency said Thursday the US government shutdown is having impacts beyond its borders, stemming data sharing and forcing Ottawa to suspend publication of trade figures.

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.

First slowdown since 2015 brings angst for German economy

Berlin - Germany's years-long run of steady growth came to a screeching halt in the third quarter, official data showed Wednesday, with a widely-expected bottleneck in the vital car industry matched by broader structural concerns.

US-China trade war sparks IMF global growth cut warning

Bali - The US-China trade war will hobble global growth, the International Monetary Fund warned Tuesday, cutting its forecast for this year and next and predicting that "everyone is going to suffer" from a clash between the world's two biggest economies.

IMF cuts global growth forecast to 3.7% for 2018, 2019 as risks rise

Washington - An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next.

US trade deficit surges in July on record imports

Washington - The US trade deficit surged in July on record imports that created burgeoning gaps with trading partners in the crosshairs of President Donald Trump's aggressive policies, according to government data released Wednesday.

US trade deficit expands in June amid growing tensions

Washington - The US trade deficit swelled in June by the largest amount in 19 months, reversing much of May's trade-war driven export bonanza, even as brinkmanship between Beijing and Washington worsened.

Turkey's economy delivers pre-poll growth boost for Erdogan

Ankara - Turkey's economy grew 7.4 percent in the first quarter, official statistics showed on Monday, in a reading hailed by President Recep Tayyip Erdogan two weeks ahead of elections but met with caution by economists.

Britain in severe slowdown one year before Brexit

London - Britain's economy suffered a sharp slowdown in the first quarter with the weakest growth rate since 2012, official data showed Friday in a gloomy sign one year before Brexit. Gross domestic product expanded 0.

'Protectionist' Trump tariffs 'offend' Germany

Frankfurt Am Main - US President Donald Trump is "offending" allies and risking a global trade war with his controversial tariffs on steel and aluminium, Germany's economy minister said Friday.

US trade deficit hits nine-year high on falling exports

Washington - The US trade deficit swelled in January to its largest level in nearly a decade as oil prices rose and the world's biggest economy sold fewer aircraft, government data showed Wednesday.

US trade deficit hits nine-year high on falling exports

Washington - The US trade deficit swelled in January to its largest level in nearly a decade as the world's biggest economy exported less fuel and sold fewer aircraft, government data showed Wednesday.

German trade surplus shrinks for first time in 8 years

Frankfurt Am Main - Germany's trade surplus shrank for the first time since 2009 last year as imports outpaced exports in Europe's booming top economy, giving Berlin ammunition to ease criticism of its huge trade gap with other countries.

Brazil registers lowest current account deficit in 10 years

Bras - Brazil registered a current account deficit of $9.8 billion in 2017, its lowest in a decade and down from $23.5 billion the year before, the country's central bank said Friday.The 2017 figure is equivalent to 0.

Brazil registers lowest budget deficit in 10 years

Bras - Brazil registered a budget deficit of $9.8 billion in 2017, its lowest in a decade and down from $23.5 billion the year before, the Brazilian Central Bank said on Friday.The 2017 figure is equivalent to 0.

British economy shrugs off Brexit doubts, for now

London - Britain's economy gently picked up speed in the third quarter, official data showed on Wednesday, strengthening expectations of an interest rate hike next month, despite uncertainty over Brexit. Gross domestic product grew by 0.

S.Africa in recession as economy shrinks 0.7% in Q1: data

Johanesburg - South Africa's economy unexpectedly contracted in the first quarter of this year, pushing the continent's most advanced economy into its first recession since 2009, according to official statistics released Tuesday.

US unemployment falls to 10-year low in April

Washington - Unemployment in the world's largest economy fell to the lowest rate in 10 years due to a strong rebound in job creation in April, bringing relief to Donald Trump after disappointing economic data early in his presidency.

Power struggle rages over Russia's state statistics

Moscow - Reports that Russia's economy ministry is set to take control of the national statistics agency has sparked fears that indicators crucial to monitoring the country's economic woes could become skewed.

Germany runs up record budget surplus of nearly 24 bn euros

Frankfurt Am Main - Germany notched up a surplus in its public finances of nearly 24 billion euros last year, its largest since reunification in 1990, official data showed Thursday.

British economy holds up as Brexit negotiations loom

London - Britain's economy grew solidly in the final months of last year, official data showed Thursday, even as the country prepares to navigate a difficult departure from the European Union.Gross domestic product expanded 0.
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