Gross Domestic Product

US economy hits Trump's 3% growth target in second quarter

Washington - AFP

The US economy grew at its fastest pace in more than two years in the second quarter, hitting President Donald Trump's goal for the first time since he took office, according to data released Wednesday. Higher consumer spending and business investment prompted a sharp upward revision in Gross Domestic Product (GDP) which increased three percent in the April-June period, theRead more

US economic growth more than doubles to 2.6%

Washington - Muslimchronicle

The US economy gathered speed in the second quarter, more than doubling the growth of the first three months of the year as consumer and defense spending accelerated, according to data released Friday. Gross domestic product (GDP) increased 2.6 percent in the April-June period, compared to 1.2 percent in the first quarter, the Commerce Department reported. The preliminary result, whichRead more

Drought caused decline in Morocco

Casablanca – Gamila Omar

Moroccan Ministry of Economy & Finance Mohamed Boussaid announced that his country’s economy grew by 1.6% in 2016, down from the previous year's 4.5% because of a poorly performing agricultural sector. In an interview with Arab Today, Boussaid attributed this decrease mainly to a "very important fall" in the production of cereal crops. "2006 was the driest yearRead more

Singapore Economy Grew 1.8% in 2016

Singapore - QNA

The Singapore economy expanded a faster than expected 1.8% on a year-on-year basis in the final three months of 2016, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Tuesday. This was more than the revised 1.2% growth in the third quarter. On a quarter-on-quarter seasonally adjusted basis, gross domestic product (GDP) grew 9.1%,Read more

Japan's GDP Downgraded to Annual 1.3% Rise

Tokyo - QNA

Japan's economy grew an annualized 1.3% in the July-September period in inflation-adjusted terms, a downgrade from a 2.2% expansion in preliminary data, partly reflecting a drop in corporate spending, the government said Thursday. The country's gross domestic product expanded for the third straight quarter, but the pace of growth slowed from the previous period, signaling that the economic recovery remainsRead more

South Korea Expected to Keep National Debt Ratio under 39 % by End of 2016

Seoul - QNA

South Korea is expected to keep the ratio of national debt against the gross domestic product (GDP) under 39% by the end of the year on reduced Treasury's and a rise in tax revenue, a senior finance ministry official said. The national debt-GDP ratio will be managed under 39% at the end of this year, and 40% at theRead more

Minister: Economic group to assess best mechanism to implement SCI resolutions

Cairo - MENA

Finance Minister Amr el Gahri asserted that the economic group is currently assessing the best mechanism to implement the resolutions of the Supreme Council of Investment (SCI), expecting the investment law bill to be finalized within the coming weeks. Addressing the third annual conference of the Chief Executive Officers (CEOs), Gahri said the biggest challenge facing the government at theRead more

Saudi oil sector expands 5.1%

Jeddah - Arab Today

Saudi Arabia’s economy expanded at its slowest rate in three years during the first quarter of 2016, official data showed. Some analysts said the data pointed to a risk of growth in Saudi Arabia slowing to near zero this year, which would be its worst performance since the global financial crisis of 2009. Gross domestic product, adjusted for inflation, grewRead more