BLOOMBERG Sri Lanka’s economic contraction probably worsened last quarter as borrowing costs at a two-decade high to quell Asia’s fastest inflation took its toll on a nation chasing a $2.9 billion bailout. Gross domestic product fell 13.4% in the three months to December from a year ago, according to a median estimate of economists in a Bloomberg survey. That would ...

BLOOMBERG Hon Hai Precision Industry Co said it expects to multiply its sales of electric vehicle components this year while weathering cooler consumer spending on technology. The Taiwanese Apple Inc assembler offered a forecast of slumping consumer electronics demand this year offset by an uptick in sales of cloud and networking products, PCs and especially EV hardware, which it sees ...

BLOOMBERG China reported a rebound in consumer spending, industrial output and investment this year after coronavirus restrictions were dropped, while warning of risks to the economy’s recovery as unemployment rose and real estate investment continued to slump. Retail sales rose 3.5% in January and February compared to the same period last year, the National Bureau of Statistics said. Industrial output ...