gross domestic product - updates

Rappler's latest stories on gross domestic product

ARTICLE FINDER

South Africa economy contracts 2% in Q1 2020

Jun 30, 2020 - 9:00 PM

Mining and manufacturing are the biggest drags on South Africa's overall economic activity in the 1st quarter of 2020

KEY INDUSTRY. This aerial view shows the Sibanye-Stillwater platinum mine in Marikana, near Rustenburg, South Africa, on May 15, 2020. Photo by Michele Spatari/AFP

UK economy suffers worst quarterly slump since 1979

Jun 30, 2020 - 6:55 PM

The British government revises the gross domestic product contraction in the 1st quarter of 2020 to 2.2%, from the initial 2%

People enjoy the warm weather and sunshine on the southern bank of the River Thames in London on June 25, 2020. - Just days after lockdown ended and European travel restrictions were lifted, many were staying home in the cool as a heatwave hit the continent with temperatures touching 40 degrees Celcius. Britain was bracing for a flood of visitors to its beaches with the heatwave expected to last until Friday and temperatures set to climb into the mid-30s in the south and centre of the country. (Photo by Niklas HALLE'N / AFP)

Argentina economy tanks in April 2020 as virus bites

Jun 30, 2020 - 10:00 AM

Argentina's gross domestic product falls by over 26% in April 2020, with construction the worst-hit industry

A woman walks past a closed pizza restaurant which facade remains covered with papers of claims from the former employees, in Buenos Aires, on June 17, 2020, amid the new coronavirus pandemic. - After two years of economic recession and three months of compulsory confinement due to the COVID-19 pandemic, several stores and restaurants in Buenos Aires are auctioning their furniture and implements, convinced they will not be able to reopen. (Photo by RONALDO SCHEMIDT / AFP)

Vietnam economy unexpectedly expands, bucking global plunge

Jun 29, 2020 - 9:35 PM

Vietnam's gross domestic product rises by 0.36% in the 2nd quarter of 2020, the lowest growth since 1991 but still better than expected

(FILES) In this file photo taken on June 18, 2020 a vegetable vendor sorts limes while waiting for customers at her shop in Hanoi. - Vietnam's economy unexpectedly expanded in the second quarter, shrugging off a coronavirus pandemic-caused global downturn, but was still the country's slowest growth in nearly three decades. (Photo by Manan VATSYAYANA / AFP)

Coronavirus drives Philippines toward recession as Duterte's 4th year ends

Jun 29, 2020 - 5:30 PM

The Philippines misses its full-year growth rate target for 2019 despite performing well in the 2nd half. Then the coronavirus causes a deep plunge.

Bangko Sentral sees sharper GDP contraction in Q2 2020

Jun 27, 2020 - 2:32 PM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno says the country's gross domestic product is seen to contract by 5.7% to 6.7% in the second quarter due to the adverse impact of the coronavirus pandemic

STANDSTILL. An almost lifeless Araneta Center in Cubao, Quezon City, hours after the government enforced the Luzon-wide lockdown on March 17, 2020. Photo by Lisa Marie David/Rappler

Tunisia premier says virus-hit economy to contract 6% in 2020

Jun 26, 2020 - 12:30 AM

'All state enterprises are in bankruptcy,' Tunisian Prime Minister Elyes Fakhfakh tells parliament

TOURISM PLUNGE. Tunisians spend time at the beach in La Marsa, on the outskirts of the capital Tunis on May 16, 2020, amid the COVID-19 pandemic. Photo by Fethi Belaid/AFP

South Africa says economy to shrink 7.2%, deepest slump in 90 years

Jun 25, 2020 - 9:50 AM

The South African economy could suffer its worst contraction in 90 years due to the coronavirus pandemic

(FILES) This file photograph taken on November 2, 2018, shows a general view of the Central Business District of Johannesburg. - South Africa's economy is projected to shrink to a record 90-year low of 7.2 percent due to the fallout from the coronavirus pandemic, the finance minister said June 24, 2020. Presenting a supplementary budget in parliament, Tito Mboweni said the continent most developed economy "is now expected to contract by 7.2 per cent in 2020," adding: "This is the largest contraction in nearly 90 years." (Photo by Guillem Sartorio / AFP)

Switzerland facing 6% contraction in 2020 – central bank

Jun 18, 2020 - 11:15 PM

The Swiss National Bank predicts Switzerland's economy would suffer its 'strongest decline since the oil crisis in the 1970s'

VIRUS CRISIS. A man wearing a mask is seen in front of the Swiss House of Parliament on March 13, 2020. Photo by Fabrice Coffrini/AFP

Sweden sees first 'positive signals' for virus-hit economy

Jun 18, 2020 - 10:45 PM

The Swedish government now expects the economy to shrink by 6% in 2020, instead of by around 7% as earlier projected

People sit in a restaurant in Stockholm on May 29, 2020, amid the coronavirus COVID-19 pandemic. - Sweden's two biggest opposition parties called Friday for an independent commission to be appointed within weeks to probe the country's response to the new coronavirus. (Photo by Jonathan NACKSTRAND / AFP)

New Zealand takes biggest economic hit in 29 years

Jun 18, 2020 - 8:50 PM

New Zealand's gross domestic product shrinks 1.6% in the 1st quarter of 2020, the biggest fall since early 1991

BACK IN BUSINESS. A bartender works at the bar on the first day of reopening after establishments were shut for two months due to the coronavirus outbreak in Wellington, New Zealand, on May 21, 2020. Photo by Marty Melville/AFP

Chile central bank predicts worst GDP fall in 35 years

Jun 18, 2020 - 12:35 AM

The Central Bank of Chile predicts the country's gross domestic product would shrink by 5.5% to 7.5% in 2020

Aerial view of the 400m-high Costanera Center Tower, considered to be the highest in Latin America, and one of the main tourist spots in Santiago now closed due to the COVID-19 coronavirus outbreak in Santiago, on June 12, 2020. - Chile registered the worst daily figures so far in the current coronavirus pandemic on Friday, with 6,754 new infections in the last 24 hours and 222 more deaths, totaling up to now 2,870 fatalities, local authorities reported. (Photo by MARTIN BERNETTI / AFP)

Virus-hit Peru GDP plummets 40% in April 2020

Jun 16, 2020 - 8:45 AM

Mining production falls sharply in Peru, one of the world's largest producers of copper, gold, and silver

People queue outside a bank to collect government aid bonuses, in the Amazon city of Iquitos, in the Peruvian Loreto region, on June 15, 2020, amid the COVID-19 coronavirus pandemic. - Peru's GDP registered a historical fall of 40.49% year-on-year in April due to the semi-paralysis of its economy caused by the drastic confinement imposed by the coronavirus pandemic, the government reported on Monday. (Photo by Cesar Von BANCELS / AFP)

UK economy shrinks a fifth on virus lockdown

Jun 12, 2020 - 6:45 PM

Britain's gross domestic product nosedives by a record 20.4% in April 2020

(FILES) In this file photo taken on March 19, 2020 A pedestrian walks along an empty street outside York Minister in the centre of York, northern England, as the novel coronavirus pandemic continues. The UK government said on June 7,2020, it will reopen places of worship "for private individual prayer" on June 15 as it continues to progressively ease coronavirus restrictions. Prime Minister Boris Johnson's office said services and worship groups will still be banned for the time being due to concern that the virus spreads more quickly in enclosed spaces. OLI SCARFF / AFP

Virus cuts G20 GDP by record 3.4% in 1st quarter – OECD

Jun 11, 2020 - 8:00 PM

The steepest declines come in China, France, and Italy, which were among the first countries to impose drastic lockdowns against the coronavirus

This aerial photo taken on March 10, 2020 shows an empty street in Wuhan in China's central Hubei province. - China said on March 10 the epicentre of the new coronavirus outbreak Hubei would relax travel restrictions to allow healthy people to move within the hard-hit province. (Photo by STR / AFP) / China OUT

Japan economy better than feared but still in recession

Jun 08, 2020 - 8:05 PM

Japan's gross domestic product contraction in the 1st quarter of 2020 is revised from 0.9% to 0.6%

People walk across Shibuya crossing in Tokyo on June 8, 2020. (Photo by CHARLY TRIBALLEAU / AFP)

Switzerland economy shrinks 2.6% in Q1 2020

Jun 03, 2020 - 10:35 PM

The Swiss service sector is particularly affected by business closures and restrictions in the 1st quarter of 2020

This photograph taken on March 18, 2020, shows pedestrians as they walk in the near empty streets of the Alpine resort of Zermatt, near The Matterhorn Mountain, amid the spread of the COVID-19 caused by the novel coronavirus. - The Swiss government on March 16, 2020, declared a state of emergency lasting until April 19 in a bid to combat the coronavirus pandemic. All shops, restaurants, bars, entertainment and leisure facilities had to shut down, with the exception of grocery stores, pharmacies and health facilities. (Photo by VALENTIN FLAURAUD / AFP)

Australia heading for recession after economy contracts

Jun 03, 2020 - 8:55 PM

Australia's gross domestic product shrinks 0.3% in January-March 2020. It is now on track to enter its first recession since 1991.

AUSTRALIA ECONOMY. People queue outside a benefits payment center in Sydney on March 23, 2020. Photo by Peter Parks/AFP

Canada's economy shrinks 8.2% in Q1 2020

May 30, 2020 - 6:30 AM

The drop in Canada's gross domestic product in the 1st quarter of 2020 is the sharpest since the 1st quarter of 2009

NO CUSTOMERS. The restaurant at the Constantin Gregoire sugar shack is seen empty in Saint-Esprit, Quebec, Canada, on March 31, 2020. Photo by Benedicte Brocard/AFP

India quarterly growth worst in 2 decades as lockdown bites

May 29, 2020 - 11:15 PM

India, Asia's 3rd largest economy, expands by just 3.1% in January-March 2020

DISINFECTION. A health worker sprays disinfectant on a fruit cart as it comes out of a market during a government-imposed nationwide lockdown in Chennai, India, on March 27, 2020. Photo by Arun Sankar/AFP

Brazil GDP shrinks 1.5% in Q1 2020 due to pandemic

May 29, 2020 - 11:00 PM

The 1st quarter drop in Brazil's gross domestic product only reflects the early effects of the coronavirus crisis, with 2nd quarter numbers expected to be much worse

SHOPS CLOSED. An empty popular shopping street in downtown Sao Paulo, Brazil, on March 24, 2020. Photo by Nelson Almeida/AFP

Russian economy seen to shrink 9.5% in Q2 2020

May 22, 2020 - 9:00 AM

After sluggish growth in the 1st quarter of 2020, Russia expects its 2nd quarter gross domestic product to plummet as coronavirus restrictions bite

A woman walks on a deserted street past the Vysoko-Petrovsky Monastery in downtown Moscow on April 16, 2020, during a strict lockdown in Russia to stop the spread of the COVID-19 coronavirus. (Photo by Dimitar DILKOFF / AFP)

Russia Q1 2020 economic growth slows to 1.6%

May 20, 2020 - 12:45 AM

This is lower than the Russian economy ministry's forecast of 1.8%. But the 2nd quarter figure is expected to be much worse as the full impact of the coronavirus lockdown is felt.

STOCKING UP. A woman stands by partially empty shelves at a local supermarket in Moscow, Russia, on March 17, 2020. Photo by Natalia Kolesnikova/AFP

Thailand's economy contracts for first time since 2014

May 18, 2020 - 5:00 PM

Thailand suffers a 1.8% contraction in gross domestic product in the 1st quarter of 2020

THAI TOURISM HIT. An aerial photo shows unused tourist buses parked on a lot near Suvarnabhumi Airport in Bangkok on March 8, 2020. Photo by Mladen Antonov/AFP

Japan slides into recession – with forecasts of worse to come

May 18, 2020 - 12:00 PM

Japan, the world's 3rd largest economy, contracts by 0.9% in the 1st quarter of 2020

JAPAN ECONOMY. People walk along a shopping precinct in Tokyo's Ueno district on March 21, 2020. Photo by Charly Triballeau/AFP

Virus pushes Germany into recession

May 15, 2020 - 10:20 PM

The German economy shrinks by 2.2% in January-March 2020, the worst quarter-on-quarter decline since the global financial crisis in 2009

People look at the tables of the reopened Cafe Prag in Schwerin, northeastern Germany on May 9, 2020 amid the ongoing Covid-19, coronavirus pandemic. - The traditional cafe and restaurant welcomed sit in customers after two months of closure as restaurants in the state of Mecklenburg Western Pomerania were allowed to reopen under strict hygiene conditions Saturday, May 9, that saw a trickle of returning customers as the north eastern state and Germany are easing corona virus restrictions. (Photo by Odd ANDERSEN / AFP)

UK economy shrinks on coronavirus

May 13, 2020 - 10:00 PM

Britain's gross domestic product contracts 2% in the 1st quarter of 2020, with the economy 'in freefall'

LOCKDOWN. A man walks the near-deserted streets of London on April 16, 2020. Photo by Tolga Akmen/AFP

Malaysia records slowest growth since 2009 due to virus

May 13, 2020 - 5:20 PM

Malaysia's gross domestic product grows 0.7% in January-March 2020, the worst figure since 2009 but better than gloomy forecasts of contraction

STUCK. Passengers wearing protective face masks amid concerns of the coronavirus outbreak wait to board their plane at Kuala Lumpur International Airport in Sepang on February 19, 2020. Photo by Jewel Samad/AFP

UK economy to plunge 14% in 2020 on virus, warns Bank of England

May 07, 2020 - 7:15 PM

Bank of England Governor Andrew Bailey says the government's soon-to-be-announced decision on lockdown restrictions 'will shape the path by which the economy is brought back into action'

A man walks the near-deserted streets of the City of london on April 16, 2020, during the novel coronavirus Covid-19 pandemic. - The British government on Thursday was expected to extend a nationwide lockdown for another three weeks, while the country's coronavirus death toll spiked by 861 -- a greater increase than in recent days. (Photo by Tolga AKMEN / AFP)

Philippine economy shrinks for first time in 22 years

May 07, 2020 - 10:24 AM

(UPDATED) The Philippines' gross domestic product contracts by 0.2% in the 1st quarter of 2020, with officials and analysts fearing that the worst is yet to come

Workers, who opted to continue working despite the enhanced community quaratine (ECQ), rush making Personal Protective Equipment (PPE) under the program of Philippines' Vice-president Leni Robredo for distribution to frontline workers in different hospitals in the country, at a factory in Taytay town, Rizal province on April 24, 2020. - The World Health Organization (WHO) has described the Philippines' high infection rate of medical staff as "worrisome" as the nation battles the spread of COVID 19. (Photo by Ted ALJIBE / AFP)

Indonesia economy sees weakest growth in almost 2 decades

May 05, 2020 - 5:15 PM

Indonesia, Southeast Asia's biggest economy, grows 2.97% in January-March 2020. It is the worst rate since 2001.

A general view shows residential and commercial buildings in Jakarta on May 5, 2020. - Indonesia's economy grew in the first quarter at its slowest pace for almost two decades, and economists warned on May 5 the coronavirus crisis would likely deal an even greater blow in the next three months. (Photo by ADEK BERRY / AFP)

Australia 'losing $2.5 billion a week' in virus shutdown

May 05, 2020 - 3:00 PM

Australia's gross domestic product is expected to fall 10% in the 2nd quarter of 2020

A man (L) walks through a deserted part of Melbourne's Queen Victoria Market on May 5, 2020. - Australia's economy is losing 4 billion Australian dollars (2.5 billion USD) every week its virus shutdown continues, while a million workers have already lost their jobs in the crisis, according to figures announced on May 5. (Photo by William WEST / AFP)

Hong Kong economy shrinks record 8.9% in Q1 2020

May 04, 2020 - 6:40 PM

This is the worst decline in gross domestic product since the Hong Kong government began compiling data in 1974

FRESH PRODUCE. In this picture taken in Hong Kong on March 18, 2020, Mandy Tang (center right), who used to be an interior designer and is now a housewife, picks up a locally grown beetroot at Mapopo Community Farm. Photo by Anthony Wallace/AFP

Croatia's economy seen to shrink by 9.4% in 2020

Apr 30, 2020 - 10:45 PM

It would be the 'biggest annual fall since the war' in the 1990s when Croatia declared independence from Yugoslavia, says Croatian Prime Minister Andrej Plenkovic

Shoppers stand apart waiting in Zagreb's main Dolac market, as she respects social distancing regulations in an effort to curb the spread of the COVID-19, the disease caused by the novel coronavirus, in downtown Zagreb on April 9, 2020. (Photo by Denis LOVROVIC / AFP)

Italy faces record recession as pandemic bites

Apr 30, 2020 - 10:00 PM

Italy estimates that its gross domestic product would contract by 8% in 2020, but this could be up to 10% if the impact of the coronavirus pandemic persists

A man wearing a face mask walks in Trastevere district in Rome on April 29, 2020 during the country's lockdown aimed at curbing the spread of the COVID-19 infection, caused by the novel coronavirus. (Photo by Tiziana FABI / AFP)

Virus lockdown measures hammer EU economy in Q1 2020

Apr 30, 2020 - 9:00 PM

The European Union suffers its sharpest quarter-on-quarter drop in gross domestic product since statistics agency Eurostat began compiling the figures in 1995

CLEAR. This picture taken on April 17, 2020, shows a clear canal in Venice, as the nation sought to curb the spread of the COVID-19 epidemic. File photo by Andrea Pattaro/S fornasier/AFP

France in recession as virus-hit economy shrinks 5.8%

Apr 30, 2020 - 4:25 PM

France's economy registers its worst quarterly performance since the Insee statistics agency began charting French gross domestic product in 1949

General view of the illuminated Eiffel Tower reflected on the Seine river in Paris at night, on April 12, 2020, during a strict lockdown in France to stop the spread of COVID-19 (novel coronavirus). (Photo by Ludovic MARIN / AFP)

Decade of U.S. growth ends as Fed warns of more virus hardship ahead

Apr 29, 2020 - 9:10 PM

(3rd UPDATE) The United States suffers its biggest decline in gross domestic product in 12 years due to the coronavirus

NEW YORK, NY - APRIL 26: Manhattan streets stand nearly empty in the popular Manhattan shopping district of SoHo on April 26, 2020 in New York City. New York City, which has been the hardest hit city in America from COVID-19, is starting to see a slowdown in hospital visits and a lowering of the daily death rate from the virus. Spencer Platt/Getty Images/AFP

South Korean economy shrinks 1.4% over coronavirus

Apr 23, 2020 - 10:00 AM

With the coronavirus pandemic, South Korea posts its biggest decline in gross domestic product since the 2008 global financial crisis

PATIENCE. A health worker wearing a protective suit waits at a drive-through testing center for the coronavirus in Seoul on March 7, 2020. Photo by Ed Jones/AFP

China suffers historic contraction as virus paralyzes economy

Apr 17, 2020 - 6:00 PM

China's gross domestic product falls 6.8% in January-March 2020, marking the first contraction since the government began logging quarterly performance in the early 1990s

People wear masks amid concerns over the COVID-19 coronavirus as they walk outside a shopping mall in Beijing on April 17, 2020. - China's economy shrank for the first time in decades last quarter as the coronavirus paralysed the country, in a historic blow to the Communist Party's pledge of continued prosperity in return for unquestioned political power. (Photo by GREG BAKER / AFP)

UK GDP could 'fall 13%' in 2020 as virus death toll climbs

Apr 15, 2020 - 2:30 AM

(UPDATED) The Office for Budget Responsibility warns that the impact of the coronavirus pandemic would be a bigger shock to the United Kingdom economy than the 2008 financial crisis

SOCIAL DISTANCING. A single customer sits at the bar in a near-empty pub in central London on March 17, 2020. Photo by Justin Tallis/AFP

France warns of 8% GDP drop in 2020 after lockdown extension

Apr 14, 2020 - 7:10 PM

With France's coronavirus lockdown extended until May 11, the economic impact is seen to be even worse than initially projected

PARIS SCENE. A woman wearing a face mask looks through the windows of the La Chapelle metro station as she waits on the platform on March 27, 2020, in Paris, on the eleventh day of a strict nationwide confinement seeking to curb the spread of the novel coronavirus disease. Photo by Joel Saget/AFP

Singapore GDP contracts sharply, in warning for virus-hit global economy

Mar 26, 2020 - 4:15 PM

(UPDATED) Export-reliant Singapore is now heading for a deep recession in 2020 after shrinking 2.2% in the 1st quarter

This photograph taken on February 18, 2020 shows commercial buildings in the central business district in Singapore. - Singapore's economy, a bellwether for trade-reliant Asian countries, suffered its worst contraction since the global financial crisis in the first quarter as the coronavirus pandemic escalated, official data showed on March 26. (Photo by ROSLAN RAHMAN / AFP)

Coronavirus seen to make Philippines miss 2020 GDP growth target

Mar 09, 2020 - 1:40 PM

Socioeconomic Planning Undersecretary Rosemarie Edillon says the Philippines' gross domestic product growth may fall within the 5.5% to 6.5% range in 2020

ECONOMIC IMPACT. Shoppers wear surgical mask in Greenhills Shopping Center, San Juan City where the prayer room of the patient positive of coronavirus is a regular visitor. Photo by Inoue Jaena/Rappler

South Africa slips into 2nd recession in 2 years

Mar 03, 2020 - 7:55 PM

(UPDATED) South Africa remains dogged by high and rising debt, low growth, and soaring unemployment

BATTLE VS FAKE NEWS. The South African flag flies above the South African Parliament on November 18, 2014, in Cape Town. File photo by Rodger Bosch/AFP

Japan suffers worst economic slump in 5 years

Feb 17, 2020 - 5:35 PM

Japan's gross domestic product shrinks in October-December 2019, suffering the biggest contraction since the 2nd quarter of 2014

This picture taken on January 25, 2020 shows a general view of skyscrapers in Tokyo's Shinjuku area. - Tokyo's benchmark Nikkei index dropped more than two percent January 27 on concerns over the potential impact of a new coronavirus that has killed at least 80 people in China. (Photo by Kazuhiro NOGI / AFP)

Hong Kong economy shrinks for first time in a decade

Feb 03, 2020 - 10:30 PM

The United States-China trade war and months of protests take their toll on Hong Kong's economy in 2019

TOURISM DECLINING. A shot of the Mong Kok district in Hong Kong. Photo from Shutterstock

[ANALYSIS] Why did Philippine growth drop to an 8-year low?

Jan 31, 2020 - 11:56 AM

Why is there disappointing growth, given the country's potential? Let's talk about lower investments and the weakening of industry.

Philippines misses GDP growth target for 2019

Jan 23, 2020 - 10:00 AM

(UPDATED) GDP growth picks up in the 4th quarter of 2019, but the impact of the budget impasse proves to be too much as the overall target is not met

[ANALYSIS] 2020s: Can we sustain the stellar growth of the 2010s?

Jan 03, 2020 - 11:14 AM

There’s a lot to be thankful for in the 2010s when more Filipinos became more prosperous and healthy, so much so that the 2010s might be considered our economy’s true 'golden age.'