SINGAPORE — Singapore on Tuesday downgraded its growth projection for this year to a range of -7% to -4%, from the previous forecast of -4% to -1%, suggesting prolonged economic damage from the coronavirus pandemic despite the phased business resumption starting next week. The city-state the same day reported a […]
forecast
Japan GDP to shrink 22% in Q2 in biggest postwar drop: forecast
TOKYO — Japan’s economy is expected to contract by an annualized 21.7% during the April-June quarter, its worst showing since the end of World War II, as the coronavirus crisis sends business and consumer activity into an unprecedented stall, a Nikkei survey shows The forecast for real gross domestic product, an average […]
Local ad revenue forecast contracts 10.6% due to coronavirus, study says
Dive Brief: Local advertising revenue in the U.S. is expected to total $144.3 billion in 2020, a 10.6% decrease from the $161.3 billion previously forecast, according to new research revealed in a press release from BIA Advisory Services. The new estimate, which comes in response to the coronavirus lockdowns, reflects […]
Indonesia’s central bank slashes growth forecast on outbreak
JAKARTA — Indonesia’s central bank slashed its growth forecast for 2020 but kept its key interest rate on hold, as concerns continue to mount over the impact of the coronavirus outbreak on the country’s economy. Bank Indonesia said Tuesday it now expects the growth rate to come in at 2.3%, […]
Fast Retailing cuts annual profit forecast by 38%
TOKYO — Japan’s Fast Retailing, owner of the Uniqlo casual clothing brand, cut its full-year net profit forecast to 100 billion yen for the year ending August 2020, down 38% from the previous year, as the novel coronavirus outbreak forces it to shutter hundreds of stores worldwide. That is sharply lower than […]
Fast Retailing cuts annual sales forecast by $2.3bn
TOKYO — Japan’s Fast Retailing, owner of the Uniqlo casual clothing brand, cut its sales forecast for fiscal year ending August by 250 billion yen ($2.29 billion) to 2.09 trillion yen, as the novel coronavirus outbreak forces it to shutter hundreds of stores worldwide. The company also downgraded its full-year net profit forecast by […]