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Sunday 06th of March 2011

News Tag: fourth quarter

February 25, 2011

US Q4 economic growth figures revised downwards

by Kay Murchie
”US
The Commerce Department has today revealed the US economy grew by an annualised 2.8% in the October to December period - lower than the first estimate of 3.2%. The growth rate was also lower than the 3.3% expected by most analysts. Today’s estimate is the second reading, a third and final estimate will be available on March 25. The downward revision in GDP ...



UK Q4 economic growth figures revised downwards

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today revealed the UK economy contracted by 0.6% in the October to December period - slightly worse than the first estimate of 0.5%. Economists had expected the figures to remain unchanged. Today’s estimate is the second reading, a third and final estimate will be available next month. However, bad weather has been attributed to the poor ...



February 15, 2011

Japan optimistic about future economic prospects

by Kay Murchie
’Japan
The Bank of Japan (BOJ) has today said the economy is emerging from a slowdown and is optimistic about future prospects. The statement comes just a day after figures revealed Japan’s economy, which is now the world’s third largest, contracted by 0.3% in the final three months of 2010. While it was marginally less than the 0.5% fall expected by analysts, it still ...



France and Germany report Q4 figures

by Kay Murchie
”France
Europe’s largest economy, Germany, looks set to be continuing its strong recovery after Federal Statistical Office, Destatis, reported the economy grew by 0.4% in the fourth quarter. For the 2010 year, the economy expanded by 3.6%, said Destatis. However, both figures were slightly below forecasts with economists expecting quarterly growth of 0.5% and annual growth of 4.1%. In the meantime, France’s economy ...



February 14, 2011

China officially becomes world’s second largest economy

by Kay Murchie
China officially becomes world’s second largest economy
Official data today revealed a contraction in the Japanese economy for the final three months of 2010. The latest figures mean China has now officially become the world’s second largest economy - taking over from Japan, which slides into the third place. At the end of 2010, Japan's economy was worth $5.474 trillion (£3.414 trillion), while the Chinese economy was worth $5.8 ...



February 10, 2011

CML reports further fall in repossessions

by Kay Murchie
CML reports further fall in repossessions
The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions – the fifth consecutive quarter in which they have fallen. According to the Council, lenders seized 7,900 properties in the October to December period - an 11% fall from the 8,900 in the previous quarter. It was also 26% lower than the same period a year earlier. Experts argue, though, ...



February 7, 2011

Indonesia’s economy expands at fastest rate since 2004

by Kay Murchie
Indonesia's economy expands at fastest rate since 2004
Indonesia, which is Southeast Asia's largest economy, experienced growth of 6.1% in 2010 compared with the previous year. This represented the fastest annual rate for six years - boosted by consumer spending and investment. The figures made it among the best performers in the G20 developing countries and the economy is now on track to see growth of 6%-6.5% in 2011. Meanwhile, ...



January 26, 2011

South Korea economic growth slows in Q4

by Kay Murchie
”South
South Korea‘s economy, which is Asia’s fourth-largest, saw growth slow to 0.5% in the October to December period. Last year, the economy expanded strongly - boosted by exports and increasing consumption and facilities investment. However, retail spending and manufacturing and construction slowed, which was attributed to the slowdown. The Bank of Korea were optimistic about the figures, however, and said growth will pick ...



January 21, 2011

Bank of America posts $1.2bn loss in Q4

by Kay Murchie
Bank of America posts $1.2bn loss in Q4
The Bank of America has today reported its second consecutive quarterly loss - primarily due to the writedown of its mortgage business, Countrywide. The bank, which is the largest in the US by assets, today disappointed analysts with a fourth quarter net loss of $1.24 billion (£775 million), compared with a $5.2 billion loss a year ago. However, last year’s figures ...



January 20, 2011

Morgan Stanley reports surge in Q4 profits

by Kay Murchie
Morgan Stanley reports surge in Q4 profits
US banking giant Morgan Stanley has today announced fourth quarter profits surged by 60% - in line with forecasts. The Wall Street bank said net profit came in at $600 million (£375 million) for the final three months of 2010, against a profit of $376 million a year ago. Shares in the bank were up 2% at the start of trading in ...



January 19, 2011

Goldman shares fall on Q4 profits announcement

by Kay Murchie
Goldman shares fall on Q4 profits announcement
US banking giant Goldman Sachs has today reported a $2.39 billion (£1.49 billion) profit for the fourth quarter, 53% lower compared with a year ago. However, the figures were roughly in line with expectations but shares still fell 3.1% to $169.22 in pre-market trading. The fourth quarter figures come at the end of a difficult year for the bank. Revenue at the ...



January 18, 2011

Citigroup shares fall on Q4 profits announcement

by Kay Murchie
Citigroup shares fall on Q4 profits announcement
US banking giant Citigroup has today reported a $1.3 billion (£811 million) profit for the fourth quarter of 2010, against a loss of $7.6 billion loss a year earlier. Meanwhile, revenue surged to $18.4 billion, from $5.4 billion in the same period a year ago but were 11% lower compared with the third quarter. However, earnings and revenue missed Wall Street expectations ...



January 12, 2011

UK trade deficit hits record high in November

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today revealed the UK’s trade deficit widened to a record high in November. According to the ONS, the goods trade gap widened to £8.736 billion in November from an upwardly revised £8.591 billion the previous month. This represented the biggest deficit since monthly records began more than 30 years ago and confounded ...



April 12, 2010

British exports see marginal rise

by Kay Murchie
’British
Official data has revealed the value of British exports grew by just 0.05%, or £28 million, in the final three months of 2009 compared with the same period a year earlier. The figures were a surprise since a weak pound should make UK goods cheaper abroad. Analysis of Government data by Close Treasury revealed that the number of UK companies exporting fell ...



April 7, 2010

Euro zone growth grinds to a halt in Q4

by Kay Murchie
Euro zone growth grinds to a halt in Q4
The European Union's statistics office has today revealed the euro zone economy grew at a slower rate in the fourth quarter than previous estimates showed. According to official figures, the economy stagnated during the three month period with a rate of 0%, revised down from the previously estimated 0.1%. The latest figures are a further blow to the euro zone ...



March 30, 2010

UK Q4 economic growth figures revised upwards

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.4% in the October to December period - slightly higher than the 0.1% and the 0.3% previously estimated. Today’s figures represent the third and final figures for growth in the fourth quarter and the ONS is scheduled release its first estimate of first quarter 2010 growth on ...



March 16, 2010

Shell steps up cost-cutting programme with further job losses

by Kay Murchie
”Shell
Oil giant Royal Dutch Shell has today announced it will axe a third of its global petrol station network and shed a further 1,000 jobs by the end of next year, as part of its ongoing cost cutting programme. The Anglo-Dutch firm, which is Britain’s second largest oil company, has been hit by a slump in demand for ...



March 5, 2010

US unemployment rate holds steady at 9.7%

by Kay Murchie
”US
The Labor Department has today revealed the US unemployment rate remained unchanged at 9.7% in February and lower than the 10% rate reported in December. According to the Labor Department, employers cut 36,000 jobs last month - fewer than the 50,000 analysts had been expecting and compares to a revised 26,000 job cuts in January. In the meantime, since the onset ...



March 4, 2010

US Fed’s influential Beige Book sees modest growth

by Kay Murchie
”US
The latest publication of the US Federal Reserve’s influential Beige Book reported that the world’s largest economy has continued to grow this year but at a "modest" pace. The Beige Book, which is compiled eight times a year, is based on reports and comments from businesses throughout the US. It said despite a pick up in consumer spending, severe snowfall in ...



March 3, 2010

Venezuela economy shrinks 5.8% in fourth quarter

by Kay Murchie
”Venezuela
The Venezuelan economy, which relies heavily on revenues from its oil reserves for its economic growth, contracted by 5.8% in the fourth quarter of 2009 compared with a year earlier. According to the Central Bank of Venezuela (BCV), the economy shrank 3.3% during the 2009 year. The BCV said the global economic crisis and "the weakness of the price of oil and ...



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