S.Korea shows more signs of economic slowdown amid export slump
South Korea is showing signs of an economic slowdown, as its manufacturing industry is losing momentum in the wake of slowing exports.
South Korea is showing signs of an economic slowdown, as its manufacturing industry is losing momentum in the wake of slowing exports.
The company forecast that its annual revenue would grow at the slowest pace since its stock market debut in 2014.
Promotions are fine when companies are growing fast but when it slows down, people getting fat salaries will aggregate at the higher level, prompting companies to periodically reset their pyramids.
October 2019 sales of two-wheeler declined 14.43 per cent to 17,57,264 units compared to 20,53,497 units in the same month in 2018.
According to reports, Ennore plant in Chennai will have 16 non-working days, Hosur 1, 2 and CPPS five days, Alwar and Bhandara Maharashtra 10 days and Pantnagar UP will have 18 non-working days.
The industry has demanded that the GST should be brought down to 18 per cent to reverse the consumption slowdown.
The auto sector presently suffers from a sales downturn due to several factors like high GST rates, farm distress, stagnant wages, and liquidity constraints. The sales slowdown has hit hard to the passenger vehicle manufacturers.
The company produced a total of 1,11,370 units in August as against 1,68,725 units in August last year, Maruti Suzuki India (MSI) said in a filing to the BSE on Monday. Passenger vehicles' production last month stood at 1,10,214 units as against 1,66,161 units in August 2018, a decline of 33.67 percent, it added.
The Automotive Component Manufacturers Association of India (ACMA) has sought a uniform GST of 18 per cent for the entire sector in order to revive the vertical which has now witnessed 10 months of continuous decline in sales.
Congress leader P. Chidambaram on Friday targeted the Modi government over the estimated GDP growth of 6.5 per cent in…
