Latest economic news from Eurozone, Eurogroup To Meet As Greece Talks Continue, With the Greek-troika talks set to drag on further and Spain reluctant to request a bailout, the Eurogroup meeting on Monday is set to conclude without any major announcements even as European leaders continued to stress on the 'urgency' to contain the crisis
Meanwhile, China Service Sector Activity Improves Further, China's service sector growth accelerated in September, helping the private sector activity to recover despite a contraction in manufacturing, a survey report from Markit Economics revealed Monday
World Bank Says Developing East Asia Growth May Ease To 11-Year Low, The World Bank said on Monday that the East Asia and Pacific region may see its economic growth sliding to the weakest in 11 years and cut the region's growth outlook for this year as well as the next amid a more-than-expected slowdown in China. Releasing the East Asia and Pacific Data Monitor, the lender said growth in developing economies in East Asia is expected to decline a full percentage point to 7.2 percent this year from 8.3 percent in 2011
German Exports Rise Unexpectedly In August, Germany's exports grew unexpectedly in August as declining shipments to euro nations were offset by higher demand from other countries, which further lifted hopes of growth in the largest Eurozone economy, data from Destatis showed Monday. Out-pacing the increase in imports, shipments rose 2.4 percent from a month ago, when it climbed 0.4 percent. Economists had forecast a 0.6 percent drop in exports. At the same time, the month-on-month growth in imports remained unchanged at 0.3 percent
Germany Industrial Production Drops On Construction Slump, Germany's industrial production decreased at a slower-than-expected pace in August on a marked reduction construction activity, indicating that the export-dependent economy's resilience against the fallout from the Eurozone debt crisis is becoming weaker, latest data showed
From British economic news, UK Chancellor Osborne Unveils GBP 10 Bln Cut In Welfare Spending, U.K. Chancellor of the Exchequer George Osborne said on Monday that the Conservative Party led government will execute a GBP 10 billion reduction in the benefits budget and further cut department spending. The great bulk of savings must come from cutting government spending and not by increasing taxes, he told the annual Conservative Party conference in Birmingham
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