GDP

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South Korea’s GDP Records 0.3% Growth in Q1 as Private Spending Rebounds

News

The Bank of Korea announced today that South Korea’s gross domestic product (GDP) for the first quarter of 2023 grew by 0.3% compared to the previous quarter. This figure remains unchanged from the preliminary estimate and indicates a steady recovery in the country’s economy, driven by an upturn in private spending. Notably, this marks the …

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Switzerland Records Stronger-Than-Expected Economic Growth in Q1/2023 Driven by Robust Domestic Demand

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The Swiss government has announced that Switzerland’s economy experienced faster-than-expected growth in the first quarter of 2023. The surge in economic activity can be attributed to strong domestic demand and an increase in exports. According to data released by the Swiss Economic Office, the Gross Domestic Product (GDP), adjusted for sporting activities, expanded by 0.5% …

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US GDP Growth Exceeds Expectations, Rises by 1.3% in Q1/2023

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According to the latest report from the US Commerce Department, the gross domestic product (GDP) of the United States expanded by 1.3% in the first quarter of 2023. This figure surpassed analysts’ expectations, which had anticipated a growth rate of 1.1%. It also surpassed the initial estimate of 1.1%, signaling a stronger-than-expected economic performance. The …

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Pakistan’s Economy Struggles with Sub-1% Growth Amid Domestic Conflict

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Pakistan’s economy has experienced a significant downturn as conflicts within the country intensify, accompanied by soaring inflation, high interest rates, and a pause in financial aid from the International Monetary Fund (IMF). The National Accounting Commission of Pakistan has reported that the country’s gross domestic product (GDP) grew a mere 0.29% in the fiscal year …

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Singapore’s Economy at Risk of Recession as Q1/23 GDP Contracts

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Singapore, May 25, 2023 – The Singaporean authorities announced today that the country’s Gross Domestic Product (GDP) contracted by 0.4% quarter-on-quarter in the first quarter of 2023. This decline follows the 0.1% growth recorded in the fourth quarter of 2022 and is primarily attributed to the impact of the global economic slowdown, including the Chinese …

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US Economy Expected to Contract in Second Half of the Year as Consumer Spending and Business Investment Decline

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Experts predict a further slowdown in the US economy for the current quarter, with expectations of contraction in the second half of the year as both consumer spending and business investment are projected to decrease. According to a poll of 70 economists, the gross domestic product (GDP) is expected to rise by 0.5% year-over-year in …

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New Zealand Poised to Dodge Recession as Tourism Bounces Back

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The New Zealand Treasury has expressed optimism that the country will successfully steer clear of a recession, thanks to a combination of factors including a resurgence in inbound tourism, recovery from the impacts of a cyclone, and government spending aimed at bolstering economic growth. Projections from the Treasury indicate that gross domestic product (GDP) is …

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Japan’s Q1 GDP Expands by 1.6%, Breaking Three-Quarter Contraction

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Japan’s Gross Domestic Product (GDP) experienced a positive turnaround in the first quarter of 2023, registering a growth of 1.6% compared to the previous year. This marks the first expansion in three quarters, providing a glimmer of hope for the country’s economic recovery. When adjusting for inflation, the real GDP grew by 0.4% in the …

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