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06.09.2012 14:42 Euro area GDP down by 0.2% and EU27 GDP down by 0.1% in the second quarter of 2012

GDP decreased by 0.2% in the euro area (EA17) and by 0.1% in the EU27 during the second quarter of 2012, compared with the previous quarter, according to second estimates released by Eurostat, the statistical office of the European Union. In the first quarter of 2012, growth rates were 0.0% in both zones. Compared with the second quarter of 2011, seasonally adjusted GDP decreased by 0.5% in the euro area and by 0.3% in the EU27, after 0.0% and +0.1% respectively in the previous quarter. During the second quarter of 2012, household final consumption expenditure decreased by 0.2% in both the euro area and the EU27 (after -0.2% and -0.1% respectively in the previous quarter). Gross fixed capital formation fell by 0.8% in the euro area and by 0.9% in the EU27 (after -1.3% and -0.7%). Exports rose by 1.3% in the euro area and by 1.0% in the EU27 (after +0.7% and +0.5%). Imports increased by 0.9% in both zones (after -0.2% in both zones).

30.08.2012 11:14 U.S. Economy Grew At 1.7 Percent Annual Rate In Second Quarter

The U.S. economy fared slightly better than initially thought in the second quarter, but the pace of growth remained too slow to shut the door on further monetary easing from the Federal Reserve. Gross domestic product expanded at a 1.7 percent annual rate, the Commerce Department said in its second estimate on Wednesday as stronger export growth offset a pull-back in restocking by businesses wary of sluggish domestic demand. That was up from last month`s 1.5 percent estimate and in line with economists` expectations. The economy grew at a 2.0 percent pace in the January-March period. The report also showed that after-tax corporate profits unexpectedly rose at 1.1 percent rate after sinking 8.6 percent in the first quarter. First-quarter economic growth was revised up to show strong export growth, despite slowing global demand. Trade contributed 0.32 percentage point to GDP growth instead of subtracting a third of a percentage point, as previously reported.

16.08.2012 18:25 Euro area and EU27 GDP down by 0.2% in the second quarter of 2012

GDP fell by 0.2% in both the euro area (EA17) and the EU27 during the second quarter of 2012, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. In the first quarter of 2012, growth rates were 0.0% in both zones. Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.4% in the euro area and by 0.2% in the EU27 in the second quarter of 2012, after 0.0% and +0.1% respectively in the previous quarter. Euro area annual inflation was 2.4% in July 2012, stable compared to June. A year earlier the rate was 2.6%. Monthly inflation was -0.5% in July 2012. EU annual inflation was 2.5% in July 2012, also stable compared to June. A year earlier the rate was 2.9%. Monthly inflation was -0.4% in July 2012. In June 2012 compared with May 2012, seasonally adjusted industrial production fell by 0.6% in the euro area (EA17) and by 0.9% in the EU27. In May production rose by 0.9% and 0.8% respectively. In June 2012 compared with June 2011, industrial production dropped by 2.1% in the euro area and by 2.2% in the EU27.

29.07.2012 13:38 The United States economy slowed in second quarter of 2012

The United States economy slowed in the second quarter amid weak consumer spending, government cuts and a rise in imports from foreign countries. Gross domestic product, the broadest measure of the nation`s economic health, grew at an annual rate of 1.5% from April to June, the Commerce Department said. That`s down significantly from a 2% rate in the first three months of the year. The Commerce Department also released revisions going back to the start of 2009. While the revisions showed that growth in 2010 was weaker than previously thought, 2009 and 2011 were slightly stronger. The second-quarter slowdown was not entirely surprising given consumer spending has been weak recently, the government has been cutting its spending and hiring has been tepid. Economists surveyed by CNNMoney were expecting to see 1.4% growth. The economy needs to grow around 3% a year to bring the unemployment rate down significantly, and since consumer spending accounts for roughly two-thirds of the economy, it too needs to grow around 3%. But spending slowed to 1.5%, down from 2.4% in the first quarter, showing that households are continuing to deleverage three years after the recession. Shoppers cut back on buying big-ticket items like automobiles, as well as smaller items like clothing and groceries. As usual, the U.S. also imported more goods and services from foreign countries than it exported, which subtracts from economic growth. Government cuts, especially at the state and local level, also weighed on growth. Spending by businesses remained a small strength. Businesses increased their purchases of equipment and software to a 7.2% annual rate.

22.07.2012 18:38 Russia`s economy may expand at a faster pace than expected this year

Russia`s economy may expand at a faster pace than expected this year, after growth in the first half topped the government`s forecast, the country`s economic development minister Andrei Belousov said. "There are a number of signs that the economy is really growing somewhat faster than we had planned -- the rapid growth of investment and decent figures for the manufacturing industry," Mr. Belousov said. Preliminary data show that gross domestic product increased 3.9% in the second quarter, and 4.4% overall in the first half. Growth slowed somewhat in the second quarter from the 4.9% pace seen in the first. Still, growth over the first six months is above the Moscow`s forecast of 3.4% in all of 2012. "By year end, we expect slightly better growth than predicted, but I don`t want to give an exact estimate at the moment," he added. In June, Mr. Belousov said growth may reach 3.7% or 4% for the year. Mr. Belousov also said that figures released by the Russian Federal Statistics Service that showed industrial production stagnated in June, were simply a seasonal anomaly.

18.07.2012 17:35 The loser countries which lowered billions on passion

The general loss of all states, only for last year, including an offline and online, reached a point in $387 000 000 000. With an enormous separation from other participants of a rating in leaders there is a special Chinese area - Hong Kong. Inhabitants of Hong Kong "lowered" on passion more than $1 000 000 000. But the essence is covered not in the sum, and that the size makes more than 30 % of all Hong Kong losses - a record. For comparison: in America more than $100 000 000 000 are lost, however $4 000 000 000 are the share of online only, and these are 4 % from the general figure. By the way, inhabitants of the USA are unprecedented champions on size of losses for last year. It is simple to count up that more than 25 % of all expenses of inhabitants of the earth for hazardous entertainments drop out to the United States. Any state not in forces even to come nearer to this "achievement". Sweden holds the second place in a rating online of losses. And it, apparently, civilized and modest country. In principle, all know, passion and how many known players in poker came from this state is inherent in how northern countries. As follows, inhabitants of Sweden lost mute big, than $3 000 000 00, from them 23 % are the share of online. Great Britain closes top-3 leaders. Here the sums on an order are more powerful - $17 600 000 000 losses and 21 % from them drop to the Internet. Also there is also an additional rating in which Japan follows America - more than $35 000 000 000, but only 12 % from them at a network. Japanese hold the 4th place in the general rating. According to H2 GamblingCapital forecasts in 2015 the general losses can reach a point in $450 000 000 000 and from them about 10 % will drop to online.

17.07.2012 15:03 The International Monetary Fund cut its forecast for global economic growth

The International Monetary Fund on Monday cut its forecast for global economic growth and warned that the outlook could dim further if policymakers in the euro zone do not act with enough force and speed to quell their region`s debt crisis. In a mid-year health check of the world economy, the IMF said emerging market nations, long a global bright spot, were being dragged down by the economic turmoil in Europe. It said a drop in exports in these countries would combine with earlier policies meant to prevent overheating and slow growth more sharply than hoped. The IMF shaved its 2013 forecast for global growth to 3.9 percent from the 4.1 percent it projected in April, trimming projections for most advanced and emerging economies. It left its 2012 forecast unchanged at 3.5 percent. "Downside risks to this weaker global outlook continue to loom large," the IMF said. "The most immediate risk is still that delayed or insufficient policy action will further escalate the euro area crisis."
The global lender said advanced economies would grow only 1.4 percent this year and 1.9 percent in 2013. It also trimmed its forecast for emerging economies, projecting they will expand 5.9 percent in 2013 and 5.6 percent in 2012. Both figures are 0.1 of a percentage point lower than in April. The IMF cut its 2013 growth forecast for the crisis-hit euro zone to 0.7 percent, while maintaining its projection of a 0.3 percent contraction this year. It said it now believes Spain`s economy will shrink both this year and next. The IMF sharply revised down its growth projections for the United Kingdom to 0.2 percent this year and to 1.4 percent in 2013. In April, the fund said the UK economy would expand 0.8 percent in 2012 and 2.0 percent next year.
The IMF said the European Central Bank had room to ease policy further and said officials in emerging economies should stand ready to cope with a drop in trade and increased volatility in capital flows. The IMF cut its 2012 growth forecast for China to 8.0 percent from 8.2 percent, and said it now expects growth of 8.5 percent next year, down from 8.8 percent.
It revised its growth projections for India to 6.1 percent this year from 6.9 percent, and chopped its 2013 forecast to 6.5 percent from 7.3 percent. Meanwhile, Africa`s growth is still seen at a robust 5.4 percent this year and 5.3 percent in 2013, as the region remains relatively insulated from external financial shocks. The IMF said growth in the Middle East will be stronger this year as key oil-producing countries boost production and Libya`s economy rebounds from conflict in 2011, but it held its forecast for next year at 3.7 percent.

15.07.2012 10:35 Russia`s gross domestic product grew by up to 4% in the second quarter of 2012

Russia`s gross domestic product grew by up to 4% in the second quarter, showing resilience amid a drop in oil prices, slowing growth in China and an ongoing sovereign-debt crisis in Europe. The upbeat data come on the heels of better-than-expected results for the first quarter, when the economy grew by 4.9%. It also comes amid serious setbacks for some of Russia`s peers in the so-called BRIC group of countries: China`s economy grew at its slowest pace in three years in the second quarter, Brazil cut its key interest rate to an all-time low to fire up its sluggish growth, while on the same day India`s 2012 economic growth forecast was cut by the Asian Development Bank to 6.5% from 7%. Russia`s growth, by comparison, has been slower, but steady. The economy ministry has said it may raise this year`s forecast of 3.4% growth, and GDP growth is expected to remain at a dependable 3% to 4% for the next several years -- a slowdown from 2011. Sovereign debt remains at around 10%, way below the U.S. and many of Russia`s European neighbors, while on-year inflation ran at an all-time low of 3.6% in April and May. The country also has around $150 billion stashed away in a pair of windfall oil-wealth funds to help buoy the economy in case of a crisis. So far, the big driver has been an 11% jump in government spending, as well as consumer spending helped along by low inflation and a rising investment as political uncertainty dissipated after President Vladimir Putin`s convincing election victory in March. A nearly free-floating ruble helped cushion the economy from a more than 25% drop in oil prices -- a policy that would have serves Russia well in 2008, when the central bank spent more than $200 billion in reserves defending the country`s currency. To be sure, Russia`s road ahead is far from smooth. On-year inflation jumped to 5% as of July 9 on the back of a hike in utility tariffs and a surge in food prices, which is likely to crimp consumer spending going forward. With elections over and the global economic picture cloudy, the government may choose to delay promised spending or cut it altogether, economists said.

14.07.2012 12:03 China`s economy expanded 7.6 percent year-on-year in the second quarter of 2012

China`s economy expanded 7.6 percent year-on-year in the second quarter of 2012, slowing from 8.1 percent in the first quarter, the National Bureau of Statistics said. The figure, which marked the sixth consecutive quarter of decline, revealed the slowest growth pace since the first quarter of 2009 and was within market expectation of below 8 percent. On a quarterly basis, the country`s economy grew 1.8 percent in the second quarter, NBS spokesman Sheng Laiyun said at a press conference. According to preliminary statistics, the country`s GDP grew 7.8 percent year-on-year to reach 22.71 trillion yuan ($3.6 trillion) during the first half, Sheng said. Although the economic growth rate continued to slow in the second quarter, it was "rather good" compared with developed nations and other emerging economies, Sheng noted. Given the sluggish external market and global economic woes, China lowered its full-year growth target for 2012 to 7.5 percent in early March, after its economy grew 9.2 percent in 2011 from the previous year. Retail sales increased 14.4 percent from one year earlier in the first half, slower than the 14.8-percent growth registered in the first quarter. Fixed-asset investment, one of the principal drivers of China`s economy, grew 20.4 percent year-on-year to 15.07 trillion yuan. The growth rate moderated by 0.5 percentage point compared to that in the first quarter, and was down 5.2 percentage points from the same period last year. Official data showed that investment in the property sector, which directly accounts for about 13 percent of gross domestic product, rose 16.6 percent year-on-year in the first half, down from 32.9 percent last year. The country`s inflation eased to a 29-month low of 2.2 percent in June, leaving the government ample room to introduce more pro-growth measures to boost the slowing economy.

10.07.2012 18:43 The UK economy likely contracted for a third straight quarter in the three months to June

The UK economy likely contracted for a third straight quarter in the three months to June, deepening the country`s recession, a think-tank said. The economic performance was distorted by the additional public holiday to celebrate Queen Elizabeth II`s Diamond Jubilee, and underlying growth was more robust than the data suggest, the National Institute of Economic Research said. NIESR estimates gross domestic product contracted 0.2% in the second quarter, compared with a 0.3% drop in the first quarter of the year. The UK economy is in recession, defined by most economists as two consecutive quarters of contraction. GDP shrank 0.3% in both the first quarter of 2012 and fourth quarter of last year, compared with the previous period, according to official data from the Office for National Statistics. Year-over-year UK Industrial Production fell by 1.6% in May, following a 2.0% drop in April, National Statistics informed. This is a more positive result that the forecasted 2.1% decrease. UK Industrial Production rose by 1% between April 2012 and May 2012, in comparison with the 0.4% decline registered between March 2012 and April 2012 and against expectations of a 0.2% drop. On an annual basis UK Manufacturing Production fell by 1.7% in May, after decreasing 1.5% in April and above expectations of a 1.9% decline. Between April 2012 and May 2012 UK Manufacturing Production rose 1.2%, following a 0.8% drop between March 2012 and April 2012 and exceeding market consensus of 0.1% growth. The UK`s trade gap narrowed in May, helped by a boost in exports. The trade deficit - a measure of how much imports exceed exports - fell to 2.7bn, compared with 4.1bn in April, according to figures from the Office for National Statistics. The seasonally adjusted volume of exports was 6.6% higher, while imports rose 1%. The goods deficit was 8.4bn, compared to 9.7bn in April, while services showed an unchanged surplus of 5.6bn.


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