Thailand Cuts Outlook After Economy Logs Weakest Growth Since 2014

The Thai economy grew at the slowest pace in more than four years in the first quarter of 2019 as trade wars and global slowdown weighed on exports, driving the government to downgrade the overall growth outlook for the year. Gross domestic product expanded 2.8 percent from last year in the first quarter, slower than the 3.6 percent expansion seen a quarter ago, data from the National Economic and Social Development Council showed Tuesday. The rate was also weaker than the expected 2.9 percent and the slowest since the fourth…

Hong Kong Jobless Rate Steady

Hong Kong’s unemployment rate remained stable during the February to April period, data from the Census and Statistics Department showed on Monday. The jobless rate remained steady at 2.8 percent during the February to April period, same as in the previous three-month period. The number of unemployed persons rose by 1,900 to 112,300 in the February to April period. “Nevertheless, given the still challenging external environment, the Government will keep a close watch over development of the local labor market,” the Secretary for Labor and Welfare Law Chi-kwong said. “The…

Hong Kong Maintains Slower Growth Forecast

The Hong Kong government on Friday maintained its weaker growth projection for this year as trade tensions between the U.S. and China escalate. The real GDP growth forecast of 2-3 percent for this year as announced in the Budget was maintained in the current review. In 2018, the economy expanded 3 percent. The government cautioned that the near-term economic outlook is subject to a high level of uncertainty. According to revised data from the Census and Statistics Department, gross domestic product grew 0.6 percent sequentially in the first quarter instead…

Russia Economic Growth Sharply Slows In Q1

Russia’s economic growth slowed sharply in the first three months of the year to the weakest pace in five consecutive quarters, preliminary data from the statistical office showed on Friday. Gross domestic product grew 0.5 percent year-on-year in the first quarter from 2.7 percent in the final three months of 2018. Economists had expected 1.2 percent growth. The latest pace of growth was the slowest since the fourth quarter of 2017, when the economy expanded 0.3 percent. Capital Economic economist Liam Carson said the much weaker-than-expected year-on-year growth suggest that…

U.S. Leading Economic Index Rises Less Than Expected In April

A reading on leading U.S. economic indicators rose by slightly less than expected in the month of April, according to a report released by the Conference Board on Friday. The Conference Board said its leading economic index edged up by 0.2 percent in April after climbing by a revised 0.3 percent in March. Economists had expected the index to rise by 0.3 percent compared to the 0.4 percent increase originally reported for the previous month. “Stock prices, financial conditions, and consumers’ outlook on the economy buoyed the US LEI, although…