Gross domestic product

Signs of weakness mar UK economic growth

Thomson ReutersMay 23, 2013 08:32

By Olesya Dmitracova and William Schomberg LONDON (Reuters) - Britain's better-than-expected economic growth in the first quarter turns out to have been boosted by a rise in inventories, while consumer spending was weak and investment fell, raising questions whether the nascent recovery will last. Britain avoided falling back into recession when official data, first released in April, showed its economy grew 0.3 percent between January and March from the previous quarter.

Japan sees results from 'Abenomics' growth strategy, as GDP jumps 3.5 pct, beating forecasts

The Canadian PressMay 15, 2013 21:16

TOKYO - Japan's economy grew by a stronger-than-expected 3.5 per cent in annual terms last quarter, giving Prime Minister Shinzo Abe a boost as his government tackles reforms needed to ensure a sustained recovery from two decades of malaise. Stronger consumer spending and public works investment coupled with aggressive monetary easing lent oomph to the recovery that began in the last quarter of 2012, when annual growth was 0.3 per cent.

Gov't again corrects Japan's Oct-Dec. GDP data

Kyodo News InternationalMay 8, 2013 12:30

The Cabinet Office released additional corrections Wednesday for gross domestic product figures for the three months to December, including gross national income data, due to miscalculations. The office, which announced nominal GDP corrections Tuesday for the same quarter, said real gross national income increased 0.1 percent from the previous quarter, an annualized rise of 0.4 percent, on a seasonally adjusted basis, correcting the previously announced quarter-on-quarter figure of 0.0 percent and annualized fall of 0.1 percent.

EU: Spain to get 2 more years to reduce deficit

Agencia EFEMay 3, 2013 09:00

Brussels, May 3 (EFE).- Spain will be given another two years - until 2016 - to bring its budget deficit down below 3 percent of gross domestic product, in line with European Union mandates, European Commissioner for Economic and Monetary Affairs Olli Rehn confirmed Friday. "For France and Spain it is very obvious that it is more reasonable to have a correction of the excessive deficit over another two years," Rehn said at a press conference in which he presented the European Commission's macroeconomic forecasts for 2013 and 2014.

India cuts key interest rate for 3rd time to try to revive growth but warns scope limited

The Canadian PressMay 3, 2013 03:00

MUMBAI, India - India's central bank cut a key interest rate by a quarter percentage point to 7.25 per cent on Friday to try to revive stalled economic growth but warned persistent inflation leaves little room for more aggressive rate cuts in the future. Bank governor D. Subbarao cited decade-low GDP growth of 4.5 per cent in the October-December quarter last year— about half of the strong 9.2 per cent growth of just two years ago in Asia's third-largest economy — for the decision.

US durable goods orders sink in March

Agence France-PresseApril 24, 2013 10:00

New orders for durable goods in the United States sank in March, with most categories slipping after February's aircraft sales-driven rise. New orders of all durable goods dropped 5.7 percent from February to $216.3 billion; they were also down 0.1 percent from a year earlier. Excluding volatile transportation equipment sales -- which include aircraft -- new orders lost 1.4 percent, after the 1.7 percent fall from January to February.

Inter-American Development Bank hails Spain's turnaround

Agencia EFEApril 23, 2013 13:05

Sao Paulo, Apr 23 (EFE).- Spain has achieved the "unprecedented" feat of boosting exports and turning a current account deficit into a surplus without a currency devaluation, the Inter-American Development Bank's chief economist said here Tuesday. Speaking at an event in Sao Paulo organized by the Spanish Business Council for Competitiveness, or CEC, the IDB's Jose Juan Ruiz said Spain could end 2013 with a current account surplus equal to 1 percent of gross domestic product.

Interest rate hike compatible with 3.5% GDP growth

Agence France-PresseApril 18, 2013 14:46

The Central Bank of Brazil's decision to raise its benchmark interest rate by 0.25 points to 7.5 percent is compatible with expected 3.5 percent GDP growth this year, an official said Thursday. "The acceleration of growth is compatible with bringing inflation under control and helps to the extent that it boosts the competitiveness of industry, for example, in the short term," deputy finance minister Nelson Barbosa said. He spoke after meeting with representatives of the National Association of Motor Vehicle Manufacturers in Sao Paulo.

Instant View - Retail sales edge lower as forecast in March

Thomson ReutersApril 18, 2013 05:00

LONDON (Reuters) - Unusually cold weather hurt British retail sales in March, official data showed on Thursday, confirming the fragile state of the country's economy in the first three months of 2013. ANALYST COMMENT ROSS WALKER, RBS "They're pretty much as expected. The main story here is just retracing some of the unusual strength in February. The monthly numbers here can be extremely volatile, we have Easter timing complications and maybe the weather had some effect as well.

Bangladesh’s GDP growth may plunge to 5.8pc

AsianetApril 15, 2013 17:21

The country’s GDP growth in the current fiscal will plunge to 5.8 percent for lack of growth in export, domestic consumption and investment, claimed a World Bank (WB) report launched here on Saturday. “Weak exports and investments resulting from the impact of the euro-area crisis, domestic supply constraints, and intensified strikes and unrests underpin the growth slowdown,” said the April issue of WB’s Bangladesh Development Update. Earlier, at a programme here on April 7, Finance Minister AMA Muhith also expressed his doubt about reaching the GDP growth target of 7.2 percent