South Korean GDP advances as predicted

Note: This section contains information in English only.
Source: Bloomberg
Economic growth in South Korea reached 0.9% in the last quarter of the previous year on the quarterly basis, fully matching economists' expectations. At the same time, the pace of increase slowed from 1.1% in Q3. On the annual basis, economy expanded 3.9%. The biggest contribution was made by exports' growth. In 2014, the Bank of Korea forecasts the GDP to add 3.8%.
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Thu, 23 Jan 2014 07:46:56 GMT

Japanese Prime Minister calls for cuts in military spending

The Prime Minister of Japan Shinzo Abe, speaking at the Davos, Switzerland located World Economic Forum, said that Asian countries should decrease the military spending, despite the territorial dispute with China. Instead, the money must be invested in human capital and innovations. In 2013, China increased the military budget to $122 billion, while Japan raised it twice during the year.

Thu, 23 Jan 2014 07:57:06 GMT

Chinese manufacturing declines to lowest since July

Activity in the manufacturing sector of China unexpectedly dropped in January of this year, reaching the lowest level since July of 2013. The benchmark PMI Index from the HSBC bank fell to 49.6 points in January from 50.5 in December, while analysts expected it to increase. Moreover, the negative climate in the production sector can influence the whole economic growth

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