PREMIUMWhat recession means for you and the economy

first_imgLog in with your social account Forgot Password ? recession economy COVID-19 contraction unemployment household-consumption The Indonesian economy is set to enter its first recession since the 1998 Asian financial crisis, bringing two decades of economic expansion to an end as the coronavirus pandemic has caused a sharp economic slowdown, throwing millions into poverty and out of jobs.Economists define a recession as contractions in two consecutive quarters, marking a significant decline in economic activity spread across the economy.   This means there are fewer jobs, people are earning and spending less and businesses have stopped expanding or even shut down.Individuals and businesses in tourism, transportation, accommodation and food and beverage may be feeling the greatest pinch as Statistics Indonesia (BPS) data show that they were the worst-performing sectors in the second quarter this year.The transportation and warehouse sectors contracted 30.8 percent from a year ago as… Facebook LOG INDon’t have an account? Register here Google Topics : Linkedinlast_img read more

Zidane delighted to call on ‘world’s best’ Ronaldo

first_imgMADRID, Spain (Reuters) – Real Madrid coach Zinedine Zidane said he was delighted to be able to call on the “best player in the world” in Cristiano Ronaldo, as his side gear up to defend their Club World Cup title.Ronaldo won his fifth Ballon d‘Or, for world player-of-the-year, last week, to draw level with his rival and Barcelona forward Lionel Messi.The debate about who is the greater player is a perennial feature of soccer punditry, but Zidane is convinced he has the world’s best at his disposal.“I have the best in the world and he is showing it in this shirt,” Zidane told a news conference in Abu Dhabi yesterday. “I am delighted to have him, for me he is the best.”Madrid face United Arab Emirates league champions Al Jazira on their home soil in the semi-final today, with the final on Saturday.Although Madrid’s next La Liga match is a crucial Clasico clash against Barcelona at the Santiago Bernabeu on December 23, Zidane said his squad is fully focused on the inter-continental tournament.”We will do everything we can to win this competition,“ he said. ”It will not be easy; first we have to get to the final. We’re only thinking about winning the Club World Cup.”There are no easy games. We have a semi-final against, a team that people say is easy, but we don’t think that it will be – quite the opposite.“Look at last year against Kashima (Antlers). Against Real Madrid everybody wants to have a great game and for that we will go out focused.”Madrid won the competition for the first time in 2014 and again last year, when they beat Japanese side Kashima Antlers 4-2 after extra time.The Spanish champions can become the first side to successfully defend the trophy since the tournament began in 2000 and can pull level with arch-rivals and record winners Barcelona on three victories.last_img read more