Cars for exports at a port in Yokohama, Japan. Reuters
Japan’s government slashed its economic growth forecast for this year largely due to weaker exports, in a sign the protracted US-China trade war is taking a bigger toll on the world’s third-largest economy.
As optimism grows that the United States and China are nearing a trade deal, Japan kicks off its own negotiations with Washington from Monday, hoping to resolve some of the issues «very quickly.» US Trade Representative Robert Lighthizer and Japan›s Economy Minister Toshimitsu Motegi
Taiwan’s export orders contracted for an eighth straight month in June, with global companies increasingly hesitant to make new investments in machinery as the China-US trade war wears on.
European shares rose on Friday after upbeat industrial output data from Italy and France raised hopes of an economic recovery, even as a spike in coronavirus cases around the world kept gains in check.
As governments rushed out funding to prevent an economic collapse amid the coronavirus pandemic, global public debt swelled to the highest in history, but the IMF warned on Friday that cutting back too soon could undermine the recovery.
Construction Cost Index (CCI), remained unchanged in the first quarter of 2020 compared with the first quarter of 2019 with the index at 98.0 per cent in both corresponding quarters, according to official figures.