On June 31, China Beige Book International (CBBI) released its economic survey, the China Beige Book, providing valuable insights into China’s economic landscape. The survey indicated that consumer spending in China has slowed down, which is likely to have implications for the overall economy. Sectors such as travel and dining at restaurants experienced significant declines …
The US Commerce Department has released its initial estimate for the gross domestic product (GDP) of the second quarter in 2023, revealing a robust growth rate of 2.4% in the quarter. This figure exceeded the expectations of analysts, who had projected a growth rate of 2.0%. Moreover, the Q2 GDP growth of 2.4% also outperformed …
US Economy Surpasses Expectations with 2.4% GDP Growth in Q2/2023 Read More »
June 2023 witnessed yet another month of robust economic growth for Thailand, as reported by the Fiscal Policy Office (FPO). Bolstered by a surge in private consumption and a thriving tourism sector, the nation’s economy displayed resilience despite the challenges posed by the ongoing pandemic. Furthermore, the inflation rate’s downward trend provided additional encouragement for …
South Korea’s economy demonstrated resilience in the second quarter of 2023, surpassing expectations as the gross domestic product (GDP) grew by 0.6% quarter-on-quarter. This growth rate outpaced the 0.3% expansion observed in the first quarter, even in the face of a decline in exports. The Bank of Korea (BOK) reported that the second-quarter GDP exceeded …
South Korea’s Q2/2023 GDP Grows by 0.6% Exceeding Expectations Despite Export Slowdown Read More »
China’s National Bureau of Statistics (NBS) has released its data, revealing that the country’s gross domestic product (GDP) grew by 6.3 percent year on year in the second quarter of 2023. Although this represented an improvement from the 4.5 percent growth recorded in the first quarter, it fell below the expectations of analysts, who had …
China Reports Q2 GDP Growth of 6.3%, Falling Short of Expectations Read More »
A senior official at the People’s Bank of China (PBOC) has announced that the bank intends to implement additional policy measures, including the reduction of the commercial bank reserve ratio (RRR) and the utilization of the medium-term loan program (MLF), to address the challenges faced by China’s economy. Despite a swift recovery in the first …
Singapore’s Ministry of Trade and Industry has released a preliminary report indicating that the country’s economy narrowly escaped a technical recession. Despite ongoing challenges such as weak global demand and a slowdown in the Chinese economy, Singapore’s economy experienced slight growth in the second quarter of 2023. In Q2 2023, Singapore’s gross domestic product (GDP) …
Singapore’s Economy Shows Resilience with Modest Growth in Q2, Avoids Recession Read More »
The Office for National Statistics (ONS) has revealed that the British economy experienced a smaller contraction than anticipated in May, signaling a positive outcome amidst protests and special holidays commemorating King Charles III’s coronation. This development suggests that Britain is on track to avoid a second consecutive quarter of economic contraction. According to the ONS, …
British Economy Contracts Less Than Expected in May Despite Protests Read More »
China’s maritime economy, encompassing industries such as maritime transportation, fishing, and shipbuilding, has achieved a remarkable milestone. According to the Ministry of Transport of China, the gross domestic product (GDP) of China’s maritime sector exceeded 9 trillion yuan (approximately 43.44 trillion baht) in 2022. A recent report highlights that approximately 95% of China’s international trade …
China’s Maritime Economy Surpasses 9 Trillion RMB in GDP Read More »
The Reserve Bank of New Zealand (RBNZ) announced today that it will keep its policy rate unchanged at 5.5%, a decision in line with market expectations. This marks the first time in nearly two years that the central bank has refrained from altering the interest rate. The decision comes amidst indications of a weakening economy, …