Xinhua
15 May 2020, 15:48 GMT+10
COPENHAGEN -- Denmark's GDP shrank by 1.9 percent in the first quarter, the biggest quarterly decline since the 2008/2009 financial crisis, according to preliminary figures released Friday by Danmarks Statistik, the country's central statistics office.
"The Danish economy is clearly affected by the effects of the COVID-19 pandemic," according to Danmarks Statistik. (Denmark-GDP-Q1)
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SOFIA -- Bulgaria's gross domestic product (GDP) expanded by 2.4 percent year-on-year in the first quarter of 2020, continuing a downward trend in its growth rate, official data showed on Friday.
According to flash estimates released by the country's National Statistical Institute (NSI), the GDP calculated at current prices was 25.146 billion BGN (about 13.88 billion U.S. dollars) from January to March. (Bulgaria-Q1-GDP)
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BERLIN -- The gross domestic product of Germany in the first quarter (Q1) of 2020 was down by 2.2 percent on the 4th quarter of 2019 upon price, seasonal and calendar adjustments, the German Federal Statistical Office (Destatis) reported on Friday.
According to Destatis, it is the largest decrease since the global financial and economic crisis of 2008/2009, and the second largest since German unification. (Germany-GDP-Q1)
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NEW DELHI -- The World Bank Friday approved 1 billion U.S. dollars aid to support India's efforts in providing social assistance to poor and vulnerable households amid COVID-19 pandemic.
"The World Bank's Board of Executive Directors today approved a 1 billion U.S. dollars accelerating India's COVID-19 social protection response program to support India's efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic," reads a statement issued by the World Bank. (WB-India-COVID)
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TOKYO -- Tokyo stocks closed higher Friday in a day of choppy trade, with investor sentiment bolstered by China reporting solid industrial output data for April, raising hopes for a global economic recovery from the COVID-19 pandemic.
The 225-issue Nikkei Stock Average gained 122.69 points, or 0.62 percent, from Thursday to close the day at 20,037.47. (Japan-China-Stocks)
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BEIJING -- China's economic activities continued to normalize as the latest data on industrial output, retail sales and investment showed across-the-board improvements, but the recovery still faces uncertainties and challenges from the global spread of the novel coronavirus.
The industrial sector was among the quickest to rebound from the impact of the virus, with the value-added industrial output returning to growth last month, the first expansion since the virus outbreak as factory activities recovered amid easing containment measures. (China-Economy-Recovery)
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SEOUL -- South Korea was faced with rising downside risks to the economy due to the COVID-19 outbreak across the world, a government report said Friday.
The Ministry of Economy and Finance said in its monthly economic assessment report called Green Book that the economy saw the expanded downside risks, given that the COVID-19 outbreak weakened domestic demand, struck the labor market and reduced export. (S.Korea-Economy-Downturn)
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SEOUL -- South Korea's automotive export almost halved last month on an economic fallout from the COVID-19 outbreak across the world, a government report showed Friday.
The number of vehicles exported in April was 123,906, down 44.3 percent from a year ago, according to the Ministry of Trade, Industry and Energy. (S.Korea-Automotive-Export)
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WASHINGTON -- Financial conditions worsened dramatically for people who experienced job loss or reduced hours in March as COVID-19 swept across the United States, according to a report released Thursday by the Federal Reserve Board.
In April, fewer adults reported that they were at least doing okay financially six months earlier, said the latest Report on the Economic Well-Being of U.S. Households. (U.S.-Fed-Pandemic)
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