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2009-04-03 09:26:56

The Central Bank of Russia said inflation in the first quarter of 2009 hit 5.3 percent and predicted an annual drop to less than the 2008 rate of 13.3 percent. Bank Chairman Sergei Ignatyev said a weaker ruble had pushed inflation higher, but the ruble's fall ended in January, RIA Novosti reported Friday. Further, an absolute break in the ruble supply in the past few months and the consistently low level of global food, energy and commodity prices, would continue to slow inflation, he said....

2009-03-19 12:46:00

FORT LEE, N.J., March 19 /PRNewswire-USNewswire/ -- The National Inflation Association today released the following statement to its http://inflation.us members: "The Federal Reserve's announcement on Wednesday to expand its balance sheet by $1.15 trillion puts our country on a direct path towards hyperinflation. By spending $300 billion on long-term U.S. Treasuries, $750 billion on worthless mortgage-backed securities, and $100 billion on other federal agency debt; the Federal Reserve will...

2009-03-19 13:34:00

An International Monetary Fund report prepared in advance of a Group of 20 meeting in London calls for concerted policy action to fix the financial crisis. Turning around global growth will depend critically on more concerted policy actions to stabilize financial conditions as well as sustained strong policy support to bolster demand, the report released Thursday says. The IMF report says the global economy is likely to contract for the first time in 60 years. Economic activity worldwide will...

2009-02-27 09:12:30

The U.S. Commerce Department said the fourth quarter U.S. gross domestic product tumbled 6.2 percent, a sharp decline from a previous estimate of 3.8 percent. The rate of contraction exceeded the consensus forecast of a 5.4 percent contraction and marks the largest quarterly drop since the first quarter of 1982, when the GDP fell 6.4 percent. The figure is also a sharp acceleration from the third quarter of 2008, when the GDP fell 0.5 percent. The decline was pushed by falling exports and a...

2009-02-06 12:55:04

A vast majority of Chinese economists polled recently said China's gross domestic product would grow 8 percent in 2009. In a survey conducted by the China Economic Monitoring and Analysis Center, 92 percent of the 73 economists polled indicated the $585 billion stimulus package implemented by Beijing, would impact the economy this year. Three percent or the economists said the effects of the stimulus would wait until 2010, Xinhua reported Friday. The average prediction in the survey for the...

2009-01-30 09:52:00

The U.S. Department of Commerce said the recession worsened in the fourth quarter with gross domestic product shrinking at an annual rate of minus 3.8 percent. The economy's contraction was at annual rate of 0.5 percent in the third quarter, but the deteriorating fourth quarter figure was not as bad as economist predicted. The consensus forecast was for the economy to shrink 5.4 percent. In the second quarter the economy grew 2.8 percent. The fourth quarter estimate -- a preliminary figure --...

2009-01-17 12:47:34

The growth rate of China's gross domestic product will probably drop to 8.4 percent this year from last year's 9.1 percent, U.N. economists estimate. Even with the slowdown, China remains a much-needed engine for East Asian and global growth, forecasters with the a United Nations development program said in a report obtained Friday in Beijing by Xinhua, the state-run Chinese news agency. The U.N. report set an upper limit of 8.9 percent growth and a worst-case scenario of 7 percent GDP...

2009-01-05 09:24:13

The global economic slowdown has reversed the current of capital investment from abroad, resulting in a sell-off of U.S. securities, an economist says. Foreigners sold $89 billion in U.S. securities in the final quarter of 2008, the largest quarterly pull-back since 1960, when the government first began tracking the figure, USA Today reported Monday. For much the same reason, economist Adam Posen of the Peterson Institute said, U.S. investors sold off $85 billion in foreign investments during...

2009-01-02 05:40:36

Singapore saw its 2008 fourth-quarter gross domestic product decline by 12.5 percent from the same period of 2007, the government said Friday. The island state's Trade and Industry Ministry, blaming the decline on the global economic crisis, further cut its forecast for 2009, saying economic growth wouldn't exceed 1 percent and may even shrink by 2 percent, CNN reported. That compared with the November forecast of negative 1 percent to 2 percent. Since November, analysts have shaded down...

2008-12-23 09:00:26

The U.S. Department of Commerce left its estimate of the third quarter economic contraction unchanged Tuesday, but dropped its inflation index slightly. The contraction of 0.5 percent, following a 2.8 percent increase in the second quarter, was unrevised from a previous estimate. However, prices rose 4.5 percent, a drop of 0.2 percentage points from the previous estimate, the department said. Core prices, excluding food and energy costs, rose 2.8 percent in the third quarter, compared with...


Word of the Day
tesla
  • The unit of magnetic flux density in the International System of Units, equal to the magnitude of the magnetic field vector necessary to produce a force of one newton on a charge of one coulomb moving perpendicular to the direction of the magnetic field vector with a velocity of one meter per second. It is equivalent to one weber per square meter.
This word is named for Nikola Tesla, the inventor, engineer, and futurist.