Tag: economies

OECD lowers growth prospects for major economies

OECD lowers growth prospects for major economies

The Paris-based Organisation for Economic Cooperation and Development (OECD) has revised its growth forecasts for major economies. The US, which is the world’s largest economy, is expected to see growth in the third quarter of 1.1% and 0.4% in the fourth – this is far lower than the previous estimates of 2.9% and 3%. However, [...]

September 8, 2011 | 0 Comments More
Asia’s economic recovery under threat from soaring food prices

Asia’s economic recovery under threat from soaring food prices

A report by the Asian Development Bank (ADB) has warned soaring food and fuel prices threaten to push millions into extreme poverty and hamper economic growth in Asian economies. Previous reports have suggested that Asia is leading the way in the global recovery with staggering economic growth figures but food price inflation is threatening growth [...]

April 26, 2011 | 0 Comments More
Inflation remains challenging for Asian economies

Inflation remains challenging for Asian economies

The Asian Development Bank (ADB) has said inflationary pressures remain rife in Asia’s developing economies and could pose a challenge for many, leading to social tensions. However, the region is powering ahead in the economic growth stakes, due to soaring exports, and has been leading the way in the global economic recovery. Growth rates for [...]

April 6, 2011 | 0 Comments More
Euro continues to fall over debt fears

Euro continues to fall over debt fears

The euro is continuing its slide against the US dollar over debt concerns in the euro zone. The single currency is falling as investors are nervous that the debt crisis could spread to weaker economies, such as Portugal and Spain – despite reassurances from both countries that the recent Irish bailout will stabilise the euro [...]

December 1, 2010 | 0 Comments More
Euro zone situation is serious but no chance of collapse

Euro zone situation is serious but no chance of collapse

There are fears that the debt crisis in Ireland will spread to Spain and Portugal - and other weak euro zone economies. However, Klaus Regling of the European Financial Stability Facility has stated it is “inconceivable” that the 16-nation euro currency will fail. The Irish debt crisis has caused the euro to fall more than [...]

November 25, 2010 | 0 Comments More
Australia and India kick off interest rate week with rises

Australia and India kick off interest rate week with rises

This week has been described as “the busiest week in decades” as interest rate decisions are expected across the globe. Today, Australia and India have both opted to raise interest rates by 0.25% amid rising inflation. The Reserve Bank of Australia (RBA) lifted rates to 4.75% - a move which surprised analysts. Australia was the [...]

November 2, 2010 | 0 Comments More
Think tank concerned for unemployment in rich economies

Think tank concerned for unemployment in rich economies

Economic think tank, the Organisation for Economic Co-operation and Development (OECD), has today said unemployment remains a concern in rich economies. In particular, the OECD has expressed concern for the UK economy, after the Government axed investment for job programmes. It believes the unemployment rate will hover around the 8% mark for at least the [...]

July 7, 2010 | 0 Comments More
OECD raises global growth forecasts

OECD raises global growth forecasts

Influential think-tank, the Organisation for Economic Co-operation and Development (OECD), has raised its worldwide growth forecasts in its twice-yearly report. The Paris-based Organisation said the global economy is recovering faster than expected with Asia continuing to drive the expansion. However, debt crises in many countries may threaten expansion in the developed world, the OECD warned. [...]

May 26, 2010 | 0 Comments More
Weak GDP figures for euro zone economies

Weak GDP figures for euro zone economies

Figures published today by the European Union’s statistics office, Eurostat, have revealed a poor quarter one performance for many euro zone nations. According to Eurostat, Greece’s debt-ridden economy contracted by 0.8% in first three months of the year, while Spain just emerged from recession with 0.1% growth. Meanwhile, France grew by just 0.1%, slowing from [...]

May 12, 2010 | 0 Comments More
Greek unions prepare for 24-hour strike amid austerity measures

Greek unions prepare for 24-hour strike amid austerity measures

Greek unions have today vowed to strike on Wednesday to protest against the Government’s austerity measures. Last week, Greek Prime Minister, George Papandreou, announced tough austerity measures to tackle the country’s spiralling debt. Measures include a public sector pay freeze, a hike in taxes and an increase to the retirement age. Spyros Papaspyros, president of [...]

February 8, 2010 | 0 Comments More
All OECD economies see growth in Q3

All OECD economies see growth in Q3

The economies of the 30 members of the Organisation for Economic Co-operation and Development (OECD) posted growth of 0.8% in third quarter - the first time economic output among the OECD economies grew since the January to March period last year. OECD members account for 61.3% of global Gross Domestic Product (GDP). The Organisation has [...]

November 23, 2009 | 0 Comments More
OECD: Recovery clearly visible in major economies

OECD: Recovery clearly visible in major economies

The Organisation for Economic Co-operation and Development (OECD) has provided a positive outlook for major economies saying “a recovery is clearly visible in the US, Japan and all other OECD economies and major non-OECD economies.” The report will give a boost to the UK which did not emerge from recession in the third quarter as [...]

November 6, 2009 | 0 Comments More
Euro zone unemployment rate hits 9.6%

Euro zone unemployment rate hits 9.6%

The unemployment rate in the euro zone hit 9.6% in August - the highest in over a decade after the number of jobless rose by 165,000 during the month, bringing the total jobless number using the single currency bloc to 15.17 million. The 10-year high comes despite the fact that many euro zone economies emerged [...]

October 1, 2009 | 0 Comments More
Global recession could result in 25m job losses

Global recession could result in 25m job losses

The Organisation for Economic Co-operation and Development (OECD) warned today that in spite of signs of recovery in major economies, the global recession could mean 25 million people will lose their jobs. The news comes after the Office for National Statistics (ONS) today revealed that unemployment in the UK grew by 210,000 to 2.47 million [...]

September 16, 2009 | 0 Comments More
Europe’s two largest economies emerge from recession

Europe’s two largest economies emerge from recession

The German and French economies, Europe’s two largest, have both experienced economic growth during the second quarter of 2009. The news has surprised many economists and French Finance and Economy Minister, Christine Lagarde, comments: “The data is very surprising. After four negative quarters France is coming out of the red.” Ms Largarde said that consumer [...]

August 13, 2009 | 0 Comments More
Fears over global economy sends stock markets down

Fears over global economy sends stock markets down

Stock markets in Asia have experienced a fall in today’s trading after yesterday’s World Bank report provided a gloomy assessment. Both the US and Europe experienced declines yesterday following the report which predicted that the global economy would contract by almost 3% this year - revised from an earlier forecast of 1.7%. London’s FTSE 100 [...]

June 23, 2009 | 0 Comments More
ECB president warns ‘no more stimulus’

ECB president warns ‘no more stimulus’

European Central Bank’s (ECB) president, Jean-Claude Trichet, is urging major economies not to implement any more stimulus packages by declaring that existing packages are “sufficient”. Stimulus packages have been implemented in many of the major economies throughout the world and are aimed at boosting economies. Mr Trichet said that the stimulus packages already in place [...]

June 22, 2009 | 0 Comments More
OECD reveals optimism for global recession

OECD reveals optimism for global recession

According to the Organisation for Economic Co-operation and Development (OECD), the economic outlook for the world’s major economies is looking brighter after indications revealed the downturn may have finally bottomed out. The composite leading indicators (CLI) index for the 30 countries in the OECD gained 0.5 points in April to 93.2, up from 92.7 in [...]

June 8, 2009 | 0 Comments More
Global stock markets rise on G20 summit hopes

Global stock markets rise on G20 summit hopes

Stockmarkets throughout the world have risen today as leaders of the world’s largest economies gather in London for the G20 summit. London‘s FTSE 100 index broke through the 4000 mark gaining 135 points to 4090.65 points this morning. However, the gains could also be attributed to the announcement from the Nationwide today, which revealed a [...]

April 2, 2009 | 0 Comments More
Eurozone enters first-ever recession

Eurozone enters first-ever recession

Official figures show that the eurozone has fallen into recession after the economy contracted by 0.2% in the third quarter. This follows a 0.2% contraction in the previous quarter from April to June. Economists say the news is no surprise after it was announced yesterday that Germany, which is Europe’s largest economy, is now in [...]

November 14, 2008 | 0 Comments More