The decline of working hours by the mid-year point is equivalent to nearly 500 million full-time jobs.
If the US wants to restore the nation’s debt to pre-coronavirus levels, it will require spending cuts and revenue increases totaling around $900 billion annually for 25 years, the Congressional Budget Office (CBO) said in a report released Monday.
Britain suffered the biggest economic hit of any G7 economy between April and June, when output fell by more than 20 amid coronavirus pandemic.
The walkout comes as the government demands more and faster testing to fight a surge in new coronavirus cases that soared to 10,593 in a new daily record.
New Zealand's economy plunged into recession for the first time in a decade, posting a record contraction in the June quarter due to the coronavirus pandemic.
Australian Treasurer announced the country's robust economy has taken a serious battering by the coronavirus pandemic.
Keeping the daily coronavirus infections under tractable margins, Turkey is close to normalising tourism with strict social distancing measures in place.
Leader Kim Jong-un to announce new five-year plan to develop country's dismal economy marred by US-led sanctions and coronavirus pandemic, state media report.
The iPhone maker reached the $2 trillion milestone in Wednesday's early stock market trading when its shares surpassed $467.77. It came just two years after Apple became the first US company with a $1 trillion market value.
Data released by the World Trade Organization suggests merchandise trade registered a historic second-quarter fall.
While many of the lockdown restrictions have been eased, Britain still faces a tough time in coming months, with unemployment likely to spike as the government phases out a support program that has kept nearly 10 million workers on company payrolls.
The decline compares with a 9.5 percent quarter-on-quarter drop in the US, which, unlike Europe, has not yet been able to get its contagion numbers firmly down and whose economic recovery is in doubt.
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