The German economy returned to growth in the second quarter but bounced back less strongly than expected amid supply chain bottlenecks that are hitting industry, data showed on Friday. Europe's largest economy grew by 1.5% quarter on quarter, compared with a revised contraction of 2.1% in the first quarter, and by 9.2% on the year, the Federal Statistics Office said.
* Dollar index set for worst week since May. * Eyes on euro zone GDP data. * Riskier FX- AUD, NZD - near 2-week highs. * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E. By Ritvik Carvalho and Swati Pandey.
The German economy returned to growth in the second quarter but bounced back less strongly than expected, as coronavirus-related restrictions were eased and households started spending again, data showed on Friday. Europe's largest economy grew by 1.5% quarter on quarter and by 9.2% on the year, the Federal Statistics Office said.
North Korea's economy suffered its biggest contraction in 23 years in 2020 as it was battered by continued U.N. sanctions, COVID-19 lockdown measures and bad weather, South Korea's central bank said on Friday. The Bank of Korea gives the most reliable estimates of economic output in the reclusive North, but other experts said the situation could be even worse.
The Swiss National Bank increased its first half profit to 43.5 billion Swiss francs, it reported on Friday, as buoyant stock markets boosted the value of the central bank's foreign currency investment pile. The SNB posted a profit of 44.5 billion francs from its foreign currency positions, helped by interest and dividend payments from the mountain of bonds and stocks it holds.
The Swiss National Bank increased its first half profit to 43.5 billion Swiss francs, it reported on Friday, as buoyant stock markets boosted the value of the central bank's foreign currency investment pile. The SNB posted a profit of 44.5 billion francs from its foreign currency positions, helped by interest and dividend payments from the mountain of bonds and stocks it holds.
China's factory activity likely expanded slightly less quickly in July, a Reuters poll showed on Friday, as the industrial sector's impressive recovery slowed on high raw material prices, government policies, seasonal rainfalls and rising COVID cases.
North Korea's economy suffered its biggest contraction in 23 years in 2020 as it was battered by continued U.N. sanctions, COVID-19 lockdown measures and bad weather, South Korea's central bank said on Friday. The Bank of Korea gives the most reliable estimates of economic output in the reclusive North, but other experts said the situation could be even worse.
North Korea's economy suffered its biggest contraction in 23 years in 2020 as it was battered by continued U.N. sanctions, COVID-19 lockdown measures and bad weather, South Korea's central bank said on Friday.
The dollar languished near a one-month low on Friday and was set for its worst weekly performance since May as dovish remarks by the U.S. Federal Reserve together with underwhelming economic data took the steam out of a month-long rally. The dollar index, which measures the greenbackagainst a basket of six other currencies, was last at 91.853, a level not seen since June 29.
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