Connect to share and comment

World Bank ups growth estimate for Japan to 1.4% in 2013

The World Bank on Wednesday lifted its real economic growth forecast for the year for Japan to 1.4 percent from an earlier estimate of 0.8 percent released in January, citing the nation's very accommodative monetary policy. But it revised downward its growth estimate for the world economy by 0.2 percentage point to 2.2 percent due to slowing growth in emerging economies.

S. Korean economy grows 0.8 pct on-quarter in Q1

By Kim Soo-yeon SEOUL, June 7 (Yonhap) -- The South Korean economy grew slower than earlier forecast in the first quarter as consumer spending remained subdued and export growth slowed amid the yen's slide, the central bank said Friday. Korea's gross domestic product (GDP), the broadest measure of economic performance, grew a revised 0.8 percent in the January-March period from three months earlier, down from a previous estimate of 0.9 percent on-quarter expansion, according to the Bank of Korea (BOK).

Economy has best quarter since 2011, but analysts not convinced of staying power

OTTAWA - Canada's economy rebounded strongly from a half-year of sub-par growth, posting an above-consensus 2.5 per cent advance in the first three months of the year and setting the country on a stronger recovery path. The report from Statistics Canada also revised the economy's speed from 0.6 to 0.9 per cent for the fourth quarter of 2012, and from 0.7 to 0.8 per cent in the third quarter of last year.

Brazil's economy grows 0.60 pct

Rio de Janeiro, May 29 (EFE).- Brazil's economy grew 0.60 percent in the first quarter of 2013, compared with the final quarter of last year, the government said Wednesday. The figures confirmed official projections that the economy would recover following the slowdown experienced over the past two years. The South American country's gross domestic product grew 1.9 percent in the first quarter, compared to the same period last year, the Brazilian Institute of Geography and Statistics, or IBGE, said.

US industrial output falls in April

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

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

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

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

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

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.
Syndicate content