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05th of October 2010
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News Tag: downwards

October 4, 2010

Growth predictions revised downwards for Ireland

by Kay Murchie
”Growth
The central bank of Ireland has today predicted the economy will expand by just 0.2% - lower than its previous forecast of 0.8%. In comparison, the Government expects growth of 1% for 2010 as a whole, however, a further forecast is due later this month. The revised projection from the central bank comes as the former “Celtic Tiger” economy has a ...



September 22, 2010

Government austerity measures will slow recovery, say CBI

by Kay Murchie
”Government
Employers’ group, the Confederation of British Industry (CBI), has revised its growth forecast for the UK’s economy. It is now predicting the economy will grow by 2% in 2011, not 2.5% as forecast earlier this year. Its downward revision is due to the massive spending cuts, introduced by the Government - deemed necessary in order to slash the budget deficit. The business ...



September 20, 2010

CEBR: Global economy not heading for double dip

by Kay Murchie
”CEBR:
Influential think tank, the Centre for Economics and Business Research (CEBR), has today said the world is not in danger of a double-dip recession. Despite this, it has revised its growth forecasts downwards, now predicting that the global economy will expand by 3.5% this year and 3.4% next year. Down from the 3.7% and 4.1% respectively. Other economic forecasts are ...



July 15, 2010

Obama’s stimulus plan ‘created more jobs than expected’

by Kay Murchie
Obama's stimulus plan ‘created more jobs than expected'
The latest quarterly report released by the White House has revealed the multi-billion dollar stimulus package created between 2.5 and 3.6 million jobs. This was higher than an original estimate of 2.2 million to 2.8 million jobs and suggests the package has been even better for the economy than previously thought. Furthermore, the report suggested the stimulus may have raised US ...



July 14, 2010

Australia revises growth forecast downwards

by Kay Murchie
”Australia
Australia has today revised its annual growth forecast from 3.25% to 3% due to uncertainty surrounding the global economic recovery. Australia is one of the few developed economies not to have fallen into recession like its counterparts throughout the world as it has benefited from an increase in commodity prices, while exports have received a boost due to demand from China for its ...



June 28, 2010

US consumer spending creeps up 0.2% in May

by Kay Murchie
”US
According to the Commerce Department, consumer spending in the US rose to an eight-month high in May, by 0.2% on month, suggesting the recovery is still on course. The rise in consumer spending, which makes up for more than two-thirds of overall economic activity in the US, slightly exceeded expectations of a 0.1% rise. The news sent the Dow Jones industrial ...



June 25, 2010

US consumer sentiment up in June

by Kay Murchie
”US
US consumer sentiment rose in June to a level not seen since January 2008. The Thomson Reuters/University of Michigan’s Surveys of Consumers’ index rose to 76 in June from 73.6 the previous month. The index has averaged 84.5 over the last 10 years. Meanwhile, the index of consumer expectations for six months from now, which monitors the direction of consumer spending, grew to ...



US Q1 economic growth figures revised downwards

by Kay Murchie
”US
The Commerce Department has today revealed the US economy grew by an annualised 2.7% in the January to March period – slightly lower than the 3.2% previously estimated. This figure is the third and final estimate and the downward revision was due to a slower rate of business investment and consumer spending. However, it still means the world’s largest economy has grown ...



June 14, 2010

OBR set to downgrade UK growth prospects

by Kay Murchie
”OBR
The newly-established Office of Budget Responsibility (OBR) is scheduled to publish growth forecasts later and they are likely to be much lower than the previous Labour Government's predictions. According to economists, the OBR, which is led by former Treasury official Sir Alan Budd, is expected to say ex-Chancellor Alistair Darling's 2011 forecast of 3% - 3.5% was too ambitious. Jonathan Loynes ...



Survey reveals record fall in UK business confidence

by Kay Murchie
”Survey
A survey among UK companies has found that confidence has plunged to a level not seen since 1995, as a result of the Government’s tough spending cuts. BDO’s Business Trends index, which covers 11,000 companies from a range of industries, slumped to 97 in May from 103.3 in April - the largest fall since the survey commenced. The survey, which is ...



May 28, 2010

US Q1 economic growth figures revised downwards

by Kay Murchie
”US
The Commerce Department has revealed the US economy grew by an annualised 3% in the January to March period – slightly lower than the 3.2% previously estimated. The figures surprised analysts who had predicted an upward revision to 3.4%. The downward revision was due to a slower rate of business investment, which fell to 3.1% down from a previous estimate of 4.1%. However, ...



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

US consumer confidence recovers in March

by Kay Murchie
’US
US consumer confidence recovered in March after taking a dive in February. The closely-monitored Consumer Confidence Index from the Conference Board rose to 52.5 in March, up from the 46.4 reading in the previous month. However, despite the rise, the index still remains far away from the 90 points required to show that the world’s largest economy is on solid footing. ...



March 28, 2010

US Q4 economic growth figures revised downwards

by Kay Murchie
”US
The Commerce Department has revealed that the world’s no.1 economy grew at a slower rate in the fourth quarter than previous estimates showed. According to official figures, the US economy grew by an annualised 5.6% between the October and December period, rather than the 5.9% and the 5.7% previously estimated. For the whole of 2009, GDP fell at an unrevised 2.4% - ...



March 17, 2010

BoJ elects to hold interest rates at 0.1%

by Kay Murchie
”BoJ
After a two-day policy board meeting, the Bank of Japan (BoJ) has elected to keep interest rates at 0.1%. Interest rates in the world’s second largest economy have been at the low level since December 2008 in a bid to fight off deflation. It is anticipated that the central Bank will leave rates at the low rate until around 2012 as ...



March 11, 2010

Japanese Q4 economic growth figures revised downwards

by Kay Murchie
”Japanese
The Cabinet Office today revealed the world’s no.2 economy grew at a slower rate in the fourth quarter than previous estimates showed. According to official figures, the Japanese economy grew by 0.9% between the October and December period, rather than the 1.1% previously estimated. On an annual basis, the Japanese economy grew at a rate of 3.8% in the final quarter of ...



February 25, 2010

UK business investment sees substantial fall

by Kay Murchie
’UK
The Office for National Statistics (ONS) has today reported a sharp fall in business investment, raising concern over the second estimate of fourth quarter GDP figures, which are due to be published tomorrow. According to the ONS, business investment fell by 5.8% in the fourth quarter of 2009 to £27.1 billion - the steepest annual fall since records commenced in 1967. On ...



December 22, 2009

US economic growth figures revised downwards

by Kay Murchie
US economic growth figures revised downwards
The Commerce Department today revealed that the world’s no.1 economy grew at a slower rate in the third quarter than previous estimates showed. According to official figures, the US economy grew by 2.2% between the July and September period, rather than the 2.8% previously reported and the original estimate of 3.5%. The figures come on the same day that the Office for National ...



December 9, 2009

Japan’s economic growth figures revised downwards

by Kay Murchie
”Japan’s
The Cabinet Office in Tokyo has today revealed that the world’s no.2 economy grew at a far slower rate in the third quarter than previous estimates showed. According to official figures, the Japanese economy grew by 0.3% between the July and September period, rather than the 1.2% previously reported and slightly less than the 0.7% analysts had expected. The main reason for ...



November 30, 2009

Chancellor set to admit recession worse than feared in pre-Budget report

by Kay Murchie
”Chancellor
In next month’s pre-Budget report, Chancellor Alistair Darling is expected to sharply revise his forecast downwards for the UK economy, according to Treasury sources. The Chancellor is expected to say that the UK economy contracted by 4.75% in 2009 - far more than the 3.5% he predicted in March’s Budget. However, while he is expected to admit that ...



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