Personal consumption slowed sharply, due in part to a drop in outlays for cars, Commerce Department data showed Thursday. That subtracted 2.39 percentage points from gross domestic product growth and drove the decline in goods spending in the period, as automakers had a tough time keeping dealer lots full.

The Organisation for Economic Cooperation and Development said the world economy is likely to expand by 5.6% in 2021.

There's much to celebrate about Thursday's GDP report, which showed the US economy grew at a record annualized rate of 33.1% during the third quarter.

Singapore's economy contracted 7.0 per cent year on year in the third quarter, but grew 7.9 per cent on a quarterly, seasonally adjusted basis

Business investment stalls amid heightened uncertainty

A second reading of the U.S. economy in the second quarter reflected the biggest quarterly plunge in activity on record, though the plummet wasn't as bad as initially estimated.

The world's third-largest economy shrank 7.8% in the second quarter compared with the previous quarter, the country's Cabinet Office said on Monday.

Europe's economy shrank by 11.9% in the second quarter as the coronavirus pandemic plunged the region into a deep recession.

Last year, GDP expanded by 6.1%, just making the official target range of 6% to 6.5%.

Economists see U.S. growth rebound in second half of year, though GDP is expected to shrink 6.6% in 2020

In March, month-on-month, the economy contracted by 5.8%, tipping U.K. GDP into a quarterly contraction of 2% across the first three months of the year.

The world's second largest economy contracted 6.8% in the first quarter of 2020 compared to a year earlier, according to government statistics released Friday.

China has revised up its economic growth by 0.1 percentage points each year between 2014 and 2018, the National Bureau of Statistics said, making it easier for Beijing to fulfill its goal of doubling the size of the economy by 2020 from 2010.

The Kumamoto Prefecture is relatively small, contributing only 1.1% of Japan's GDP. But it is home to several semiconductor production plants and is sometimes called Japan's Silicon Island.

Japan's GDP shrank by 1.4% in the last three months of 2015, the government said Monday, underlining the challenges for officials who have been trying for years to drag the world's third-largest economy out of stagnation.

Growth in the world's second largest economy, China, beat expectations in the second quarter, but it was still the weakest showing since the global financial crisis.

IC Insights has lowered its 2013 IC market growth forecast 1pp to 5%.

China's economic growth slowed unexpectedly in the first quarter, raising concerns that a recovery that started in the second half of last year is already losing steam.

China's premier warned that growth will slow this year in the world's second-largest economy as the government seeks to overhaul the country's "unbalanced, uncoordinated and unsustainable" development model.

In its China Economic Outlook report released Monday, the IMF said China's growth rate, which stood at 9.2% last year, would drop abruptly if the euro zone experienced a sharp recession.

The United States economy grew at a slightly slower rate than previously estimated in the third quarter, but weak inventory accumulation amid sturdy consumer spending strengthened analysts' views that output would pick up in the current quarter.

The International Monetary Fund (IMF) has cut its growth forecasts for Asia over worries about eurozone debt and new fears for the US economy.

The proposal's name refers to billionaire Warren Buffett, who has complained that wealthy Americans like himself pay less than their fair share in taxes under the current tax code.

The US's biggest industrial companies face an average bill of at least US$100m each over the next five years as they struggle to fill the skills gaps left by the looming retirement of "baby boomer" factory workers.

Austerity measures in rich countries to reduce budget deficits risk triggering economic downturn, Unctad report says. But poorer economies offer GDP growth.

New data on the US economy, including a huge drop in a regional manufacturing survey, has heightened market fears of a new recession.

The economy shrank by a much worse-than-expected annualised 3.7% in the first three months of 2011, marking the second consecutive quarter of contraction, which economists define as a technical recession.

A Chinese manufacturing index declined in April from March, indicating that growth may moderate in the world's second-biggest economy after the government raised interest rates and allowed faster gains in the yuan.

Chairman Ben Bernanke said he expected growth for 2011 to be between 3.1% and 3.3%, compared with the previous forecast of 3.4-3.9%. He also hinted the Fed would not pump more money into the economy after June.

GDP will expand 0.8% in 2011, down sharply from the 1.7% growth previously forecast. But as reconstruction spending gains pace, the economy will expand 2.3% in 2012, faster than previous estimates for 1.3% growth, the OECD said.

Provisional estimates released by the World Bank put the economic damage resulting from the disaster at as much as US$235 billion, around 4% of GDP. That figure would make this disaster the costliest since comparable records began in 1965.

At its current rate of growth, analysts see China replacing the US as the world's top economy in about a decade.

China has apparently overtaken Japan as the world's second-largest economy, after data released on Jan. 20 showed double-digit growth for 2010. The growth effectively displaces its Asian neighbor from a global ranking it has held since 1968.

The global economy will slow this year, with developing countries such as India and China providing a greater share of growth, the World Bank has predicted.

China's GDP increased 9.6% on year in the third quarter, slowing from 10.3% in the second quarter

Gold rose to a one-month high on August 13, lifted by persistent poor macroeconomic data from the US that is prompting investors to choose safer assets in the face of a gloomier economic outlook.

The eurozone managed only modest economic growth in the first quarter of 2010, with Germany's performance, held back by the bitter winter, failing to kick-start a broader recovery in the 16-country region.

China's economy accelerated more than expected in the first quarter, while consumer and wholesale inflation - though mixed - indicated a broadly rising trend, stoking further concerns of economic overheating in the economy.

Last month's unemployment rate stayed steady at 9.7%, the same as in January, and lower than December's rate of 10%.

The emergence of the world economy from the worst slump since World War II spurred businesses in Taiwan, where exports equal half of GDP, to boost production and hire more workers.