Japan’s government slashed its economic growth forecast for this year largely due to weaker exports, in a sign the protracted US-China trade war is taking a bigger toll on the world’s third-largest economy.
China’s economy expanded at a slower pace in the second quarter as Beijing’s crackdown on debt risks crimped activity, while June factory output growth weakened to a two-year low in a worrying sign as a heated trade war with the United States threatens to knock exports.
Singapore’s economic growth slowed in the second quarter and missed forecasts, preliminary data showed on Friday, as manufacturing activity cooled and worsening US-China trade tensions clouded the outlook for the trade-reliant city-state.
Singapore's Ministry of Trade and Industry (MTI) announced that the country's gross domestic product (GDP) forecast for the whole year of 2018 was ranged from 2.5 to 3.5 percent, compared to the 1.5 to 3.5 percent announced previously.
Growth of France, the eurozone second largest economy, went up by 0.3 percent, during the first three months of the year, compared to a 0.7 percent rise reported in the last quarter of 2017, the national statistics bureau, Insee, announced.
Japan’s economy grew twice as fast as originally estimated in the third quarter thanks to big gains in capital expenditure, revised data showed on Friday, with expansion seen to continue thanks to buoyant exports.
South Korea's economic growth likely accelerated at a sharper pace in the first three months of the year than the previous quarter as exports and capital investment tracked a recovery in the global economy.
India's government said that the economy would grow by 7.1 percent in the financial year ending in March, slower than the growth registered during the previous year, amid warnings of a cash crunch hitting business activity.