Latest economic news, From Toyko economic news, Japan Aug Current Account Surplus JPY454.7 Bln, Japan posted a current account surplus of 454.7 billion yen in August, the Ministry of Finance said on Tuesday, up 4.2 percent on year.
Meanwhile latest economic news from Greece, Eurozone, IMF Offer Greece 10 Days To Fulfill Promises, Greece's international creditors have allotted ten days to the country to fulfill the reform pledges before deciding on the next loan tranche of 31.5 billion euros. At the same time, the euro area ministers hailed the fiscal consolidation efforts of the coalition government led by Antonis Samaras, raising hopes of a positive decision at the upcoming EU summit. The meeting, however, failed to take any clear decision on how to bring the Greek bailout program back on track
Global economic slowdown makes IMF Finds Risk Of Global Slowdown "Alarmingly High"; Cuts Growth Forecasts, Stepping up its warning against deteriorating economic conditions across the globe, the International Monetary Fund on Tuesday said the risks for a 'serious global slowdown are alarmingly high.' The Washington-based lender also slashed its economic growth outlook for the world economy this year as well as the next. The global economy is now expected to expand 3.3 percent in 2012, weaker than the 3.5 percent growth projected in July.
From British economic news, Decline In Factory Output, Exports Damps U.K. Recovery Hopes, Driven by subdued production of transport equipment, Britain's manufacturing output declined more-than-expected in August, while the country's exports registered a steep slump during the month, denting expectations of a widely expected moderate recovery in the third quarter
Eurozone debt crisis update, European Central Bank's Mario Draghi Warns Of Growth Risks As IMF Sees Room For Rate Cuts, European Central Bank President Mario Draghi on Tuesday said the euro area economy faces more risks to growth and is expected recover only gradually. Meanwhile, the International Monetary Fund said there is still scope for lowering interest rates after it slashed its growth forecast for the 17-nation economy. The Washington-based lender expects euro area GDP to shrink 0.4 percent this year, which is worse than the 0.3 percent contraction projected earlier
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