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Tag: growth

Chipmakers drove corporate growth in South Korea last year

Chipmakers drove corporate growth in South Korea last year

World
SEOUL, Feb. 25 (UPI) -- South Korea's largest companies saw a 35 percent jump in operating profit last year, on the back of a stronger global economy.According to industry tracker Chaebol-dot-com on Sunday, the country's top 100 listed companies gained $ 154 billion in operating profit last year, up 34.7 percent from 2016.Sales rose 10.5 percent to $ 1.7 trillion.Semiconductor manufacturers accounted for much of the growth, boosted by the global supercycle of memory chips.South Korea's number one tech giant Samsung Electronics and chipmaker SK Hynix saw their margins surge by record figures -- 83.5 percent and 319 percent respectively.Samsung is currently leading the global market for NAND Flash and DRAM.Excluding the two firms, earnings growth averaged 9 percent on-year.Automobile compani...
UK economic growth revised downwards

UK economic growth revised downwards

Business
The UK economy expanded by less than previously thought in the last three months of 2017, official figures say.GDP grew by 0.4% in the October-to-December period, the Office for National Statistics (ONS) said, down from the initial estimate of 0.5%.The revision was due to slower growth in production industries, the ONS said. In 2017 as a whole, the economy grew by 1.7%, also slightly lower than previously thought and the weakest since 2012.The ONS had previously estimated that the economy grew by 1.8% last year.The statistics body said that household spending grew by 1.8% last year, also the slowest annual rate since 2012. It said the slowdown was partly because of shoppers facing higher prices in stores."A number of very small revisions to mining, energy generation and service were enough...
UK economic growth 'better than expected'

UK economic growth 'better than expected'

Business
The UK economy grew by a better than expected 0.5% in the fourth quarter of 2017 but remains "slower and uneven", official figures show.Britain's performance in the October-December period was an improvement on the 0.4% rate seen in the previous quarter but still meant that for the year as a whole, growth was at its weakest since 2012.The pound, which in recent days has been trading at its highest levels since the Brexit vote, lifted by a cent to just under $ 1.43 in the wake of the figures.Gross domestic product (GDP) rose by 1.8% in 2017, below the 1.9% pace seen in 2016, the Office for National Statistics (ONS) said.ONS head of GDP Darren Morgan said: "Despite a slight uptick in the latest quarter, the underlying picture is of slower and uneven growth across the economy."He said the boo...
With no recession red flags on horizon, 2018 will see strong US, global GDP growth: Strategist

With no recession red flags on horizon, 2018 will see strong US, global GDP growth: Strategist

Finance
Nine years into the U.S. bull market in stocks, we are still optimistic for the year ahead. But there are some risks investors need to be mindful of as we start the new year.Fortunately, we do not believe recession is one of them, and so we remain bullish.Pending recessions typically end bull markets. And recessions are often presaged by certain signals: rising jobless claims; falling home sales; an inverted yield curve; wage pressures that impact corporate margins; exogenous shocks, including oil spikes; or destabilizing valuations in key asset classes.We don't see those red flags on the horizon as we enter the new year, so we continue to believe that 2018 will witness strong U.S. and global GDP growth. Equity gains will likely moderate from 2017, but we continue to favor stocks over bond...
Pay growth improves but joblessness stalls

Pay growth improves but joblessness stalls

Business
Annual pay growth has improved to 2.4% but the decline in UK unemployment slowed to a crawl, official figures show.The Office for National Statistics (ONS) reported the upturn in regular average earnings - excluding bonuses - for the three months to November, up from the previous rate of 2.3%.It was a better than expected reading and the strongest since December 2016 - enough to send the pound above $ 1.41 against the US dollar, a fresh post-Brexit vote high.But pay growth was still trailing behind inflation, which has been running at around 3% in recent months.It meant that for the ninth month in a row, the ONS reported that pay was falling in real terms, this time down by 0.5%.Meanwhile the decline in unemployment slowed, with the jobless total down by just 3,000 to 1.439 million.The UK'...