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Koreans may feel further pinch despite economic recovery

SEOUL, Jan. 15 (Yonhap) -- The South Korean economy is expected to rebound this year, but Koreans are not likely to enjoy the economic recovery as fewer manufacturers plan to create jobs, data showed Wednesday. Korea's central bank forecast Asia's fourth-largest economy to grow 3.8 percent this year, but the employment-weighted growth rate is estimated to reach 3.4 percent, according to the Bank of Korea (BOK).

Koreans may feel further pinch despite economic recovery

SEOUL, Jan. 15 (Yonhap) -- The South Korean economy is expected to rebound this year, but Koreans are not likely to enjoy the economic recovery as fewer manufacturers plan to create jobs, data showed Wednesday. Korea's central bank forecast Asia's fourth-largest economy to grow 3.8 percent this year, but the employment-weighted growth rate is estimated to reach 3.4 percent, according to the Bank of Korea (BOK).

BOK keeps 2014 growth estimate, cuts inflation outlook

By Kim Soo-yeon SEOUL, Jan. 9 (Yonhap) -- South Korea's central bank on Thursday retained its economic growth forecast for 2014 at 3.8 percent but lowered the year's inflation outlook amid stable agricultural prices. The growth projection by the Bank of Korea (BOK) is lower than the government's 3.9 percent. The Korean economy is estimated to have grown 2.8 percent last year, according to the central bank and the government. The BOK said that Asia's fourth-largest economy is likely to grow 4 percent in 2015.

Sri Lanka cuts lending rates to further spur growth

Sri Lanka's central bank Thursday cut a key lending rate by 50 basis points to 8.0 percent after inflation eased to its lowest level in nearly two years and as the economy shows signs of sustained growth. The move by the Monetary Board of the Central Bank of Sri Lanka represents the fourth consecutive reduction since December 2012. The deposit rate was kept at 6.5 percent. The bank said it expected the island's economy grew 7.2 percent in 2013, up from 6.4 percent in 2012 after announcing last week that inflation had hit a 22-month low of 4.7 percent.

Philippine economy grows 7.5 % in 2nd qtr 2013

The Philippine economy grew 7.5 percent in the second quarter of 2013, up from 6.3 percent growth in the same period last year due to a resilient services sector and robust growth in manufacturing and construction, officials said Thursday. National Statistical Coordination Board Secretary General Jose Ramon Albert said second quarter growth, the fourth consecutive GDP growth of more than 7.0 percent under President Benigno Aquino, brought the year's first-half growth to 7.6 percent from 6.4 percent last year.

S. Korea's economy to grow 3.6 pct in H2 on exports: think tank

SEOUL, June 24 (Yonhap) -- The country's gross domestic product (GDP) will grow at a much faster rate in the second half of this year than it did in the first six months of 2013 due partly to growing exports, a local think tank said Monday. According to a report from the Korea Institute for Industrial Economics and Trade (KIET), the country's GDP is expected to grow 3.6 percent from a year earlier in the July-December period, compared with a 1.8 percent on-year gain in the first half. The report forecast the country's annual economic growth to reach 2.7 percent.

Brazil's 2012 GDP worst in three years

The Brazilian economy grew a mere 0.9 percent in 2012 despite government stimulus measures, its worst performance in three years, official statistics showed Friday. In 2009 the world's sixth largest economy contracted by 0.3 percent as a result of the international economic crisis. The Brazilian Institute of Geography and Statistics (IBGE) said that in the fourth quarter of last year, GDP rose 0.6 percent over the previous quarter.

British firms' confidence increased in fourth quarter - survey

By Dasha Afanasieva LONDON, Jan 8 (Reuters) - British firms grew more confident in the last three months of 2012, suggesting the economy avoided contraction and is set for modest growth in the early part of this year, Britain's largest business survey showed on Tuesday. The survey of more than 7,000 firms by the British Chambers of Commerce contrasts sharply with the downbeat message last week from a set of closely watched polls of purchasing managers. They suggested Britain is slipping back into recession.
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