Latest Economic disasters Stories
Asian and European markets turned mostly higher Monday, buoyed by stimulus spending in China and a general shift from gloomy sentiment. In Asia, the Nikkei 225 was down slightly, off 39 points, while the Hang Seng index in Hong Kong rose 2.95 percent to 14,901.41.
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....
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.
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...
The U.S. Commerce Department said the fourth quarter U.S.
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.
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.
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.
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.