Latest Economic disasters Stories
The Bank of Canada said Thursday it was maintaining its .05 percent interest rate and expressed concern with the Canadian dollar's increased value. The bank last set its rate on April 21, and the Canadian dollar has risen 12 percent against the U.S. dollar since.
Spending on private and public construction in the United States rose in April, the U.S.
Slovenia's gross domestic product will drop 2.7 percent for all of 2009, while in 2010 the economy will recover and rise 1.4 percent, economists said. The GDP decline was mainly caused by a drop in exports due to a financial crisis in the euro-zone and stricter borrowing conditions which hurt Slovenia's open economy, seriously hit by the global economic crisis, the Slovenian news agency STA said Monday, quoting a report by the International Monetary Fund. In 2009, Slovenia's trade, production...
Agricultural acreage in the heart of the Midwest fell 6 percent in value in the first quarter, the Chicago Federal Reserve Bank said Friday. A survey of 227 Midwest banks found the decline in the value of farmland listed as good was steeper than in any quarter since 1985, the federal bank said. The drop came in spite of historically low interest rates for loans, which fell to 6.2 percent for new operating loans and 6.14 percent for farm real estate loans during the quarter. The quarter...
Japan's first quarter GDP, hit by falling exports and domestic demand, fell a record 4 percent from the earlier quarter, the government said Wednesday. The Cabinet Office in a preliminary report said it was the fourth straight quarterly decline for the world's second largest economy with a GDP of about
South Korea's central bank, saying the pace of economic downturn had eased, Tuesday left its key interest rate unchanged at 2 percent. It was the third straight month the Bank of Korea had made no change in the seven-day repo rate, a move that had been expected by experts, Yonhap news agency reported. Prior to that, the bank, pressed to respond to the slumping economy, had cut the rate six times totaling 3.25 percentage points to bring it to current record low level of 2 percent. In recent...
Numbers that looked scary a year ago, like April's job losses, are now fueling hope investors will soon replace the word rebound with the word recovery. April's non-farm job losses came in at 539,000 Friday and are nothing to cheer about until you compare them to March when nearly 700,000 jobs were lost.
U.S. businesses shed 491,000 non-farm jobs from March to April, far less than the 650,000 losses expected, a research group said Wednesday. Automatic Data Processing Inc.
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