Singapore heads towards worst recession since independence

Singapore has slashed its growth forecast for the third time this year. The GDP is expected to shrink by up to seven percent, effectively sending the city-state into its deepest economic downturn. Subscribe to us on YouTube: https://goo.gl/lP12gA Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv Follow … Read more Singapore heads towards worst recession since independence

Fears mount that underemployment could drive Australia’s recession deep into depression | ABC News

Australia’s GDP figures may have helped it’s economy sneak into a recession, but they don’t tell the full story, and neither does the official unemployment rate. A collapse in work hours is how many Australians are feeling the pain. Some economists are warning that the recession could become a depression if the Government withdraws it’s … Read more Fears mount that underemployment could drive Australia’s recession deep into depression | ABC News

Treasurer warns the worst is yet to come as Australia’s economy enters recession | ABC News

Australia has entered it’s 29-year dream run of economic growth, after grinding to a 0.2% contraction in the March quarter largely bought on by bushfires and the COVID-19 crisis pandemic. Treasurer Josh Frydenberg today said Australia avoided economic ‘armageddon’, and talked up the ‘economic resilience’ of the nation. But with hundreds of thousands of Australians … Read more Treasurer warns the worst is yet to come as Australia’s economy enters recession | ABC News

China’s Economic Recovery: Bright Spots, Prospects

Last week’s Two Sessions in Beijing were a key moment to assess China’s economic health and its future direction. Despite not setting a GDP target in the wake of the coronavirus epidemic, China is still eyeing economic growth this year. But one reality we have to face is that demand overseas remains extremely weak, as … Read more China’s Economic Recovery: Bright Spots, Prospects

Coronavirus and bushfires tip Australia into first recession in 29 years

Australia’s economy shrunk by 0.3% in the March quarter, according to the national accounts figures. The treasurer Josh Frydenberg said the contraction was less severe than many other countries battling the economic shock associated with the coronavirus pandemic, but acknowledged the country was now in recession – ending three decades of continuous economic growth. Coronavirus … Read more Coronavirus and bushfires tip Australia into first recession in 29 years

Senior Economist Alison Pennington says latest GDP figures is ‘calm before the storm’ | ABC News

Some Australians are living through a recession for the first time. GDP figures from the Bureau of Statistics show Australia’s economy shrank 0.3 per cent in the March quarter, amid bushfires and the early stages of the COVID-19 pandemic. Alison Pennington is a Senior Economist and spoke to ABC’s business reporter Sue Lannin. Read more … Read more Senior Economist Alison Pennington says latest GDP figures is ‘calm before the storm’ | ABC News

Treasurer Josh Frydenberg says Australia has officially entered recession | ABC News

After 29 years of uninterrupted economic growth, Australia has entered recession. The latest Australian Bureau of Statistics has revealed Australia’s economy contracted by 0.3 per cent over the March quarter. The Treasurer Josh Frydenberg says the economy will shrink even further next quarter, meaning Australia has entered a technical recession. Mr Frydenberg spoke to reporters … Read more Treasurer Josh Frydenberg says Australia has officially entered recession | ABC News

Scrap Bank of England inflation target to focus on GDP growth, says Jim O’Neill | CoronaNomics

The Telegraph’s economics reporter Lizzy Burden interviews Jim O’Neill, former Treasury minister. One of Britain’s most prominent economists has urged Rishi Sunak to scrap the Bank of England’s inflation target to make economic growth its primary goal as Britain attempts a recovery from the pandemic. Lord Jim O’Neill, a former Treasury minister who is understood … Read more Scrap Bank of England inflation target to focus on GDP growth, says Jim O’Neill | CoronaNomics

India May Fall Into First Recession Since 1980, DBS Bank Says

May.29 — Radhika Rao, senior vice president and economist at DBS Bank, looks at how the coronavirus outbreak is affecting the Indian economy. GDP data on Friday will probably show growth cooled in the three months through March to 1.6% from 4.7% in the previous quarter, according to a Bloomberg survey. Rao speaks with Haslinda Amin and … Read more India May Fall Into First Recession Since 1980, DBS Bank Says

U.S. GDP shrinks to lowest since 2008

A possible second wave of coronavirus could be a serious setback in getting consumers spending again. Insights via @CME Group : https://openmarkets.cmegroup.com/quicktake?utm_source=youtube&utm_medium=paid_social&utm_campaign=quicktake_evergreen&utm_content=more_insights Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm QUICKTAKE ON SOCIAL: Follow QuickTake on Twitter: twitter.com/quicktake Like QuickTake on Facebook: facebook.com/quicktake Follow QuickTake on Instagram: instagram.com/quicktake Subscribe to our newsletter: https://bit.ly/2FJ0oQZ Email us at quicktakenews@gmail.com … Read more U.S. GDP shrinks to lowest since 2008

Covid-19: Portugal hopes summer tourist season can be saved

Portugal has seen relatively few cases of coronavirus compared to its neighbours, but Covid-19 and the resulting lockdown have dealt a heavy economic blow. The country is highly dependent on tourism, which makes up nearly a quarter of its GDP. Nevertheless, Portugal is hoping the summer season can still be saved. In hotels, airports and on beaches, various measures are being … Read more Covid-19: Portugal hopes summer tourist season can be saved

Coronavirus: European countries mull reopening borders – BBC News

Foreign visitors to Spain will no longer have to undergo a two-week quarantine from 1 July, the government has announced. It said the measure had been finalised in a cabinet meeting on Monday. Foreign Minister Arancha Gonzalez Laya had previously said the requirement would be lifted in July, without giving a date. The news comes … Read more Coronavirus: European countries mull reopening borders – BBC News

Live: Ministers meet the press via video conference at the second Ministers’ Corridor

The “Ministers’ Corridor” has become an important part of China’s political season, providing a chance for ministers and heads of various government departments to introduce their ideas to Chinese and international media. This year, due to the coronavirus pandemic, the ministers are taking questions via video conference. In the first Ministers’ Corridor, ministers answered questions … Read more Live: Ministers meet the press via video conference at the second Ministers’ Corridor

Come Together: The secret code to Chinese wealth and happiness

The COVID-19 pandemic has brought the world to a standstill. The global economy is severely impacted, so is China’s. During the first quarter of 2020, China’s GDP showed a year-on-year fall of about 6.8 percent, and many Chinese people saw their incomes drop for the first time in years. The Chinese government has, on the … Read more Come Together: The secret code to Chinese wealth and happiness