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US industrial output falls in April

Agence France-PresseMay 15, 2013 14:43
US industrial production fell in April amid a decline in heating oil demand as temperatures returned to normal ranges after an unusually cold March, the Federal Reserve reported Wednesday. Industrial output fell 0.5 percent in April, led by a 3.7 percent decline in utilities "as heating demand fell back to a more typical seasonal level," the central bank said. The decline was sharper than the 0.2 drop expected by analysts, and followed two straight months of higher output, with March production up a revised 0.3 percent.

Spain forecasts return to growth in 2014

Agence France-PresseApril 26, 2013 09:01
Spain's government forecast Friday that the eurozone's fourth-biggest economy would shrink by 1.3 percent in 2013 but return to growth of 0.5 percent in 2014. Unemployment will slide to 26.7 percent over 2014 and ease back further to 25 percent in 2015, the government added, announcing its latest crisis economic reforms. It forecast the public deficit would be 6.3 percent of gross domestic product (GDP) in 2013 -- well above earlier targets -- and would not come under the EU limit of three percent until 2016.

Weak job gains cast shadow on US economic outlook

April 9, 2013 12:19
American employers hired at the slowest pace in nine months in March, a sign that Washington's austerity drive could be stealing momentum from the economy.The economy added just 88,000 nonfarm jobs last month and the jobless rate ticked a tenth of a point lower to 7.6 percent largely due to people dropping out of the work force, Labor Department data showed on Friday. Economists polled by Reuters had expected a gain of 200,000. Analysts suspected some of the weakness was due to tax hikes enacted in January.

German output rises moderately as industry recovers

April 8, 2013 07:30
By Sarah Marsh and Maria Sheahan BERLIN/HANOVER (Reuters) - German industrial output rose in February and industry leaders were cautiously optimistic about growth and investment in Europe's largest economy this year as long as there is no flare-up in the euro zone crisis.

Spain to revise down 2013 GDP growth target to -1 percent

April 1, 2013 16:00
By Julien Toyer MADRID (Reuters) - Spain will revise down its economic growth forecast for 2013 next week and seek more time from the European Union to reduce its budget deficit as recession cuts deeper than previously expected, a government source told Reuters. Spain's gross domestic product (GDP) will be forecast to shrink by 1 percent, rather than 0.5 percent, the source said, adding that the government intended to shift emphasis to growth rather than deficit reduction.

industrial output-February

March 28, 2013 20:16
SEJONG, March 29 (Yonhap) -- South Korea's industrial output shrank for the second straight month in February, intensifying worries that industrial activities might be slowing due to toughened economic conditions, a government report showed Friday. According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries dropped 0.8 percent last month from a month earlier. It is the second straight on-month contraction following a revised 1.2 percent fall in January.

US 4th quarter growth faster than thought: 0.4%

March 28, 2013 12:00
The US economy grew more strongly than initially thought in the fourth quarter last year but was still moving at a sluggish 0.4 percent annual pace, the Department of Commerce said Thursday. That was an improvement over the previous estimate of almost no growth -- just 0.1 percent. But overall it was not much change for a quarter in which growth was slowed in part by the massive hurricane at the end of October which shut down much of the economy in the heavily populated northeast for more than a week.

Key points of British austerity budget

March 20, 2013 14:46
British finance minister George Osborne delivered another austerity budget on Wednesday in a renewed bid to slash spending and curb borrowing. Here is a list of the main points from Chancellor of the Exchequer Osborne's 2013-2014 annual budget:

Bullish retail sales bolster U.S. economic outlook

March 13, 2013 14:31
By Lucia Mutikani WASHINGTON (Reuters) - U.S. retail sales expanded at their fastest clip in five months in February, the latest sign of momentum for an economy facing headwinds from higher taxes and pricier gasoline. The solid sales came on the heels of strong gains in employment and manufacturing. But the improvement in the economic picture is likely insufficient to compel the Federal Reserve to reduce its monetary policy support.

Dollar falls against the yen; bond yields decline

March 13, 2013 11:45
By Leah Schnurr NEW YORK (Reuters) - The U.S. dollar tumbled against the yen on Friday after the Bank of Japan left its monetary policy unchanged, while benchmark U.S. bond yields fell to near 4-1/2-month lows after the U.S. economy grew less than expected in the first quarter.
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