Britain's economy shrank 2% in the first three months of the year, rocked by the fallout from the COVID-19 pandemic, official data showed on Wednesday, with analysts predicting even worse to come.
China’s economy shrank for the first time since at least 1992 in the first quarter, as the coronavirus outbreak paralyzed production and spending, raising pressure on authorities to do more to stop mounting job losses.
A U.S. district judge dismissed a lawsuit filed by New York-based hedge fund Aurelius Capital against Argentina, related to an alleged payment shortfall under securities offerings linked to the country’s gross domestic product.
Brazil’s central bank on Thursday raised its 2020 gross domestic product growth forecast to 2.2% in its quarterly inflation report from 1.8% previously but cautioned it was conditional on continued progress on economic reforms.
The Brazilian government posted a fiscal surplus of 46.9 billion reais (US$ 12.5 billion) in January, the central bank said, above forecasts but unchanged from a year earlier. In Brazil, January is traditionally marked by higher tax revenues and lighter spending, so these figures do not change the fragile outlook for public finances, analysts said.