Tag: revised

OECD revises growth prospects for global economy

OECD revises growth prospects for global economy

The Paris-based Organisation for Economic Cooperation and Development (OECD) has revised its growth forecasts for the global economy. The US, which is the world’s largest economy, is expected to see growth this year of 2.6% - revised upwards from a previous estimate of 2.2%. It maintained its 2012 growth forecast at 3.1%. “Growth in the [...]

May 25, 2011 | 0 Comments More
Scottish Q4 growth figures revised upwards

Scottish Q4 growth figures revised upwards

Scotland’s economy shrank less than thought in the October to December period, official figures revealed today. GDP was revised upwards to a contraction of 0.4% rather than an earlier estimate of 0.5%. The contraction was attributed to the bad weather during the quarter which impacted on many businesses. On an annual basis, meanwhile, the economy [...]

April 21, 2011 | 0 Comments More
France revises 2012 growth forecast

France revises 2012 growth forecast

France’s Economy Minister Christine Lagarde has said the economy will expand 2.25% in 2012, revised down from a previous estimate of 2.5%. The revision was based on the fact that global demand for French goods is likely to weaken. In an interview with Les Echos reported, the minister said: “Our forecast for two percent growth [...]

April 14, 2011 | 0 Comments More
US Q4 economic growth figures revised upwards

US Q4 economic growth figures revised upwards

The Commerce Department has today revealed the US economy grew by an annualised 3.1% in the October to December period – higher than the previous estimate of 2.8%. It was also slightly better than analysts forecast of a 3% growth rate. The upward revision in GDP was attributed to higher consumer spending - which grew [...]

March 25, 2011 | 0 Comments More
Japan Q4 economic growth revised downwards

Japan Q4 economic growth revised downwards

The Cabinet Office has today revealed the Japanese economy contracted by 1.3% in the October to December period – slightly worse than the first estimate of 1.1%. Today’s estimate is the second reading, a third and final estimate will be available next month. The downward revision was attributed to an expired Government incentive for low-emission [...]

March 10, 2011 | 0 Comments More
US Q4 economic growth figures revised downwards

US Q4 economic growth figures revised downwards

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 [...]

February 25, 2011 | 0 Comments More
UK Q4 economic growth figures revised downwards

UK Q4 economic growth figures revised downwards

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, [...]

February 25, 2011 | 0 Comments More
US Q3 economic growth figures revised upwards

US Q3 economic growth figures revised upwards

The Commerce Department has today revealed the US economy grew by an annualised 2.6% in the July to September period – slightly higher than the second estimate of 2.5% but much faster than the first estimate of 2%. However, the growth rate was less than the 3% most analysts had expected. Today’s estimate is the [...]

December 22, 2010 | 0 Comments More
UK Q3 economic growth figures revised down

UK Q3 economic growth figures revised down

The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.7% in the July to September period – down from its previous estimate of 0.8%. On an annual basis, meanwhile, growth was also revised down to 2.7% from 2.8%. Both figures surprised economists who had expected quarterly and annual growth to [...]

December 22, 2010 | 0 Comments More
Japanese economic growth revised upwards

Japanese economic growth revised upwards

Official figures have today revealed the Japanese economy grew faster than estimated in the third quarter due to stronger corporate spending. The world’s third largest economy grew by 1.1% in the July to September period, up from the first estimate of 0.9%. On an annual basis, the economy expanded by 4.5% from an earlier estimate [...]

December 9, 2010 | 0 Comments More
US Q3 economic growth figures revised upwards

US Q3 economic growth figures revised upwards

The Commerce Department has today revealed the US economy grew by 2.5% in the July to September period – much faster than the 2% previously estimated and higher than economists had forecast. Today’s estimate is the second reading, a third and final estimate will be available next month. GDP was revised upwards due to higher [...]

November 23, 2010 | 0 Comments More
Eurostat revises Greece’s budget deficit

Eurostat revises Greece’s budget deficit

The European Union’s statistics office, Eurostat, has today said Greece’s budget deficit reached a revised 15.4% of annual economic output last year - higher than the 13.6% reported in April. The revised figure, which is almost two percentage points more than originally forecast, now makes it the largest deficit in the euro zone - even [...]

November 15, 2010 | 0 Comments More
Japanese interest rates on hold, growth forecasts cut

Japanese interest rates on hold, growth forecasts cut

The Bank of Japan (BoJ) has today opted to keep interest rates on hold between zero and 0.1%. The move comes just weeks after the Bank surprised analysts and cut rates to this level. The measures come as the economy continues its battle with deflation. Deflation is also a concern for the Japanese economy. Recent [...]

October 28, 2010 | 0 Comments More
IMF warns of slow growth due to deficit cutting

IMF warns of slow growth due to deficit cutting

The International Monetary Fund (IMF) has today warned that economic growth will be hit due to deep spending cuts. Olivier Blanchard, the IMF’s chief economic counsellor, said massive spending cuts may have to be revisited if growth in the UK is hampered. However, Mr Blanchard did highlight that his comments applied to all advanced economies, [...]

October 6, 2010 | 0 Comments More
Growth predictions revised downwards for Ireland

Growth predictions revised downwards for Ireland

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 [...]

October 4, 2010 | 0 Comments More
US Q2 economic growth figures revised upwards

US Q2 economic growth figures revised upwards

The Commerce Department has today revealed the US economy grew by an annualised 1.7% in the April to June period – slightly higher than the previous estimate of 1.6%. This figure is the third and final estimate for the second quarter and the upward revision was due to a higher rate of consumer spending, which [...]

September 30, 2010 | 0 Comments More
UK Q2 economic growth figures remain unchanged

UK Q2 economic growth figures remain unchanged

The Office for National Statistics (ONS) has today revealed the UK economy grew by 1.2% in the April to June period – unrevised from its second estimate last month. While the reading was expected to remain the same - it represented the fastest pace in nine years and took the annual rate of growth to [...]

September 28, 2010 | 0 Comments More
Government austerity measures will slow recovery, say CBI

Government austerity measures will slow recovery, say CBI

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 [...]

September 22, 2010 | 0 Comments More
Australia continues to put brakes on rate hikes

Australia continues to put brakes on rate hikes

The Reserve Bank of Australia (RBA) has again elected to leave interest rates on hold at 4.5% after a series of aggressive rate hikes since October. It is the third consecutive month in which rates have been at this level but economists say the central bank will only leave rates on hold for the short-term. [...]

August 3, 2010 | 0 Comments More
ONS issues revised Q1 construction output figures

ONS issues revised Q1 construction output figures

The Office for National Statistics (ONS) has today issued a revised reading of first quarter construction output, which could boost economic growth in the first quarter of the year. According to the ONS, construction output fell by 1.1% in the first three months of the year - lower than the 1.6% fall which the ONS [...]

July 16, 2010 | 0 Comments More