Singapore's economy contracts by 5.8% year over year in 2020
Singapore's economy contracted by 5.8% year over year in 2020 as activity improved in the fourth quarter, based on government data.
The figure is deemed...
Fed adjusts its U.S. economic outlook for 2021 to 4.2% from 4.0%
The Federal Reserve has increased its U.S. economic outlook to 4.2% from 4.0% for 2021, based on its Summary of Economic Projections.
The Fed expects...
OPEC challenges may persist into 2021 due to the coronavirus pandemic
OPEC challenges may persist into 2021 due to the coronavirus pandemic, according to Abdelmadjid Attar, OPEC president.
“The shock to the oil industry is massive...
OECD boosts world economy outlook due to positive vaccine news
The Organization for Economic Cooperation and Development (OECD) boosts world economy outlook due to positive vaccine news.
They believe that the real gross domestic product...
OPEC members have "a lot of dissatisfaction," analyst says
OPEC members have a lot of dissatisfaction due to the delays of output increase that are caused by the pandemic, an oil watcher said.
“A...
India falls into recession for the first time in decades
India has fallen into recession for the first time in decades due to the impact of the coronavirus pandemic on Asia's third largest economy.
According...
JPMorgan: First-quarter GDP will drop due to Covid surge
The first-quarter GDP will drop due to the increasing Covid-19 cases and restrictions, according economists from JPMorgan.
According to them, the economy will expand in...
JPMorgan: US economy to slow down in Q4, contract by Q1 2021
Financial services firm JPMorgan has warned that the US economy would shrink by the first quarter of 2021.
According to JPMorgan, recovery of the US...
China’s industrial output records 6.9% increase in October
China’s industrial output reported a 6.9% increase in October, according to data from the National Statistics Bureau.
Analysts polled by Reuters had predicted a 6.5%...
Covid vaccine not an "instant stimulus" to the economy, economist says
A Covid vaccine will not be an "instant stimulus" to the economy, according to Carl Tannenbaum, the chief economist at Northern Trust.
He said that...
