China’s factory output, retail sales miss expectations in May
BEIJING, June 16 (Reuters) – Growth in China’s factory output slowed for a third straight month in May, likely weighed down by disruptions caused by COVID-19 outbreaks in the country’s southern export powerhouse of Guangdong. Retail sales and investment growth also came in below market expectations, but analysts say underlying activity still looks quite solid, […]
Indian oil refiners cut output, imports as pandemic hits demand
India’s top oil refiners are reducing processing runs and crude imports as the surging COVID-19 pandemic has cut fuel consumption, leading to higher product stockpiles at the plants, company officials told Reuters on Tuesday. Indian Oil Corp (IOC.NS), the country’s biggest refiner, has reduced runs to an average of between 85% and 88% of processing capacity, […]
German output shrinks in Q1 as lockdown dampens consumption
The German economy contracted by a greater than expected 1.7% in the first quarter as a lockdown in place since November to contain the coronavirus stifled private consumption in Europe’s largest economy, data showed on Friday. “The coronavirus crisis caused another decline in economic performance at the beginning of 2021,” the Federal Statistics Office said. […]
