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Housing correction would damage Canada's economy, says BMO report

OTTAWA - A sudden and sharp correction in the housing market could have a devastating impact on the Canadian economy overall, enough to trigger another recession, says a new Bank of Montreal report. The analysis by senior economist Sal Guatieri finds that even a 10 per cent correction — what many would call a soft landing — could sap as much as one percentage point from gross domestic product growth, or basically halve the current growth rate.

China's cooling property market a risk to economic growth

By Xiaoyi Shao and Jonathan Standing BEIJING (Reuters) - China's property market could threaten Beijing's plan to manage a slowdown in growth, as evidence mounts of a rapid cooling in what had been one of the few strong spots in the world's second-largest economy. So far, the economic story is going to script, with growth of 7.4 percent in the first quarter from a year earlier. While the slowest pace in 18 months, it was just ahead of market expectations and seemed to soothe fears of a sharp downturn.

Brazil's economy grows just 0.24 pct.

Rio de Janeiro, Apr 16 (EFE).- Brazil's economy grew at a 0.24 percent rate in February, compared to the previous month, the Central Bank said Wednesday. The Central Bank's Index of Economic Activity indicates that the economy grew 1.63 percent in February, compared to February 2013, while year-on-year growth was 2.41 percent, up from the 2.29 percent figure reported in the previous month.

Brazil's economy grows just 0.24 pct.

Rio de Janeiro, Apr 16 (EFE).- Brazil's economy grew at a 0.24 percent rate in February, compared to the previous month, the Central Bank said Wednesday. The Central Bank's Index of Economic Activity indicates that the economy grew 1.63 percent in February, compared to February 2013, while year-on-year growth was 2.41 percent, up from the 2.29 percent figure reported in the previous month.

Fed survey: Economic growth picks up across most of the United States as harsh winter recedes

WASHINGTON - A Federal Reserve survey shows economic growth picking up across most of the United States over the past two months as bitter winter weather subsided. Ten of the Fed's 12 regions reported an increase in economic activity, according to the Beige Book survey released Wednesday. In most places, the Fed described the improvement as "modest or moderate." Only Cleveland and St. Louis reported slower growth.

Fed survey: Economic growth picks up across most of the United States as harsh winter recedes

WASHINGTON - A Federal Reserve survey shows economic growth picking up across most of the United States over the past two months as bitter winter weather subsided. Ten of the Fed's 12 regions reported an increase in economic activity, according to the Beige Book survey released Wednesday. In most places, the Fed described the improvement as "modest or moderate." Only Cleveland and St. Louis reported slower growth.

Russia risks recession amid crisis after economy shrinks in Q1

Russia's economy shrank by 0.5 percent in the first three months of 2014 from the previous quarter, a minister said on Wednesday, fuelling concerns the Ukraine crisis could tip it into recession. Economy Minister Alexei Ulyukayev said that Russia's economy grew just 0.8 percent in the first quarter of 2014, compared to activity in the same period last year. But it contracted 0.5 percent versus the final three months of 2013, after seasonal adjustment, Russian news agencies quoted Ulyukayev as telling parliament.

China first-quarter GDP at 18-month low, to cut reserve ratio for small banks

By Adam Rose and Xiaoyi Shao BEIJING (Reuters) - China's economy expanded 7.4 percent between January and March, its slowest pace in 18 months, prompting authorities to act for the second time in as many weeks to shore up growth. Hours after the National Bureau of Statistics released the data, Premier Li Keqiang was quoted by state media as saying that China would reduce the amount of cash that some village banks hold at the central bank to help the farm sector.

China's growth slows to 7.4 per cent in Q1, raising risk of job losses

BEIJING, China - China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without politically dangerous job losses. The world's second-largest economy grew 7.4 per cent from a year earlier in the January-March quarter, down from the previous quarter's 7.7 per cent, government data showed Wednesday. It matched a mini-slump in late 2012 for the weakest growth since the 2008-09 global crisis.

Russian GDP contracts 0.5% in Q1 2014 from Q4 2013

Russia's economy shrank by 0.5 percent in the first quarter of 2014 from output in the final quarter of 2013, a minister said on Wednesday in comments highlighting the risk of a recession due to the standoff in Ukraine. Economy Minister Alexei Ulyukayev said that the economy grew just 0.8 percent in the first quarter of 2014 from activity in the same period last year, but contracted 0.5 percent from the fourth quarter after seasonal adjustment, Russian news agencies reported. sjw/ma/hd
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