Economic
Feb 22nd, 2012
European Union officials said that the economic most effected European country, Greece will come again to be in the best position in 2014 after a four-year recession that will shrink output by 17%.
EU officials said the country must cut more than 150,000 jobs and also bring labor costs down by 15% over the next three years, they added that the minimum wage in Greece is still higher than Portugal and Spain.
On Tuesday, the finance ministers of euro region agreed a $172 billion bailout for Athens after forcing the country to unpopular cuts and private bondholders to take bigger losses.
The officials said that they expect Gre
Feb 21st, 2012
According to an annual US survey showed that the consumer satisfaction improved slightly in 2011, in keeping with the country’s slow economic growth but it failed to return to pre-recession levels.
Today, the economic indicator of the country, the American Customer Satisfaction Index (ACSI) reported that the overall, American customers’ assessment of retail products and services increased 0.7% to 78 out of a possible score of 100.
ACSI in its latest survey report said that the nearly 1,250 customers of online brokerages were asked during the last quarter of 2011 to rate their levels of satisfaction with the organizations on a
Feb 20th, 2012
On Monday, the latest data released by the government of Thailand showed that the country’s economy suffered greatly in the fourth quarter of 2011, as widespread flooding forced manufacturers to halt production.
The National Economic and Social Development Board (NESDB) latest report showed that the Thailand’s GDP (Gross domestic product) expanded by 9 percent in the final three months as compared to the same period of 2010.
Government official, Apichai Thamsermsukh said that it was the sharpest decline in a single quarter since comparable records began in 1993, adding that the Asian financial crisis of 1997-98 saw smaller quart
Feb 18th, 2012
According to the US monthly survey, the cost of living in the country increased slightly in the first month of 2012, which is just below the economists’ predictions.
The Bureau of Labor Statistics in Washington reported on Friday that the CPI (consumer price index) was up 2.9% for the twelve months ending in January.
The rise in CPI is just below economists’ expectation that forecast a 0.3% gain. Economists said that the in the month of January the US CPI rose the most in four months as the price of gasoline jumped, highlighting a mounting concern that higher energy costs could slow the economic recovery.
In Janu
Feb 17th, 2012
Chairman of the US Federal Reserve, Ben Shalom Bernanke, said that the country’s weak and sluggish economic recovery has made it harder for banks to make money from loans, but the financial conditions of the nation’s smaller institutions appear to be solidifying.
Talking in a community banking conference on Thursday, Bernanke said that even though there has been some recent signs of economic improvement, the recovery has been crawling, constraining opportunities for profitable lending.
He said that despite high ratios of nonperforming assets, asset quality shows to be calming down and provisions for loan losses at community banks
Feb 16th, 2012
The Southeast Asian country, Singapore said that its economy shrank in the last quarter of 2011 but the contraction was not as deep as it earlier estimated.
Singapore Ministry of Trade and Industry reported that the country’s GDP (gross domestic product) shrank 2.5% in the fourth quarter of last year from the previous quarter.
The Ministry said that the first month of trade numbers, export numbers are quite good and it is still too early to call, but their near-term indicators does not suggest danger of the country slipping into a recession in the first quarter of this year.
The ministry announced the Singapore manufact
Feb 15th, 2012
The government of South Korea reported that the country’s unemployment rate increased in the first month of this year from a month earlier amid increasing global economic uncertainty.
According to the reports Korea in its latest report said that the rate of unemployment in the country was 3.5% in the month of January as compared with 3% in December, while the South Korean economy, gained 536,000 jobs in January as compared with the same period in 2011.
Analyst Suh Dae-Il at Daewoo Securities said that the relatively fast job creation pace is partly due to a low base last year.
Suh said that on a monthly basis things ar
Feb 14th, 2012
On Monday, the France based credit ratings agency, Fitch downgraded the ratings of four top banks in Spain, while the American rating agency, Standard & Poor cut the rating of the Spanish industry as a whole.
S&P on January 13 lowered Spain’s sovereign rating to A from AA- and the subsequent revision of its Banking Industry Country Risk Assessment (BICRA) to group 5 from group 4.
The rating agency said that they believe investor confidence remains weak and expect further episodes of illiquidity and instability in the funding markets over the medium term, adding that the banking system of Spain is at risk to turbulent capit
Feb 13th, 2012
China, the world’s second largest economy's exports are down to the lowest level in January, for the first time in more than two years, which raises fresh distresses about the impact of an international slowdown on its economy.
Yesterday, the General Administration of Customs of China, said that its export fell 0.5% in January year on year and imports decreased 15.3%, which is much steeper than expected.
The Minister of the Chinese Ministry of Commerce, Chen Deming, said that the exports of January cannot make them optimistic and the IMF (International Monetary Fund) warned earlier this week that deterioration in European countrie
Feb 13th, 2012
The latest reports show that Japan contracted more than expected in the fourth quarter of 2011, as a rising yen and Thai floods hurt its businesses.
The world’s third largest economy, Japan’s GDP (gross domestic product), shrank by 2.3 percent during the last three months of the 2011, which is much worse than expected from analyst's forecast.
The Japanese Cabinet Office said on Monday that the economy shrank by 0.6 percent, quarter on quarter, and 0.9 percent throughout 2011.
These unpredicted bad figures of the economy are a big blow to country’s efforts to recover from the earthquake and tsunami earlier last year.
Econ
