In its autumn forecasts European commission has revised down the growth forecasts for European Union and euro area. The report said, “Annual GDP growth in the EU this year is now projected to be 1.3%, while growth in the euro area is expected to be 0.8%.”
A robust pace of business spending likely buoyed U.S. economic growth in the third quarter, a sign corporate chieftains have confidence in the sustainability of the recovery.
The European Commission provisionally accepted the budgets of France and Italy, saying on Tuesday that no euro zone states had submitted deficit plans for next year that seriously breached EU rules for fiscal stability.
Unless it springs a major surprise, the U.S. Federal Reserve will call time this week on its program of government bond purchases, which at one point was pumping $85 billion a month into financial markets and the economy.
Euro zone businesses performed much better than forecasters expected this month and China's vast factory sector grew a shade faster but there were worrying signs that the upturn could be short-lived.
China's export and import performance in September easily beat forecasts, with imports showing unexpected buoyancy, helping to ease concerns about deteriorating domestic demand in the world's second-biggest economy.
When a guesthouse belonging to one of Nigeria's leading Christian pastors collapsed last month, killing 115 mostly South African pilgrims, attention focused on the multimillion-dollar "megachurches" that form a huge, untaxed sector of Africa's top economy.
Growth in China's services sector weakened slightly in September as new business cooled, a private survey showed on Wednesday, reinforcing signs of a slowdown in the world's second-largest economy that could prompt more stimulus measures.
Greece will aim to achieve a primary budget surplus of 2.9 percent of output next year, just shy of the 3 percent target set out under its bailout deal, its deputy finance minister said in an interview published Saturday.
The U.S. economy grew at its fastest pace in 2-1/2 years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the remainder of the year.
A selloff on Ukraine's dollar debt is focusing attention on a controversial $3 billion bond held by Russia, raising investor concerns that President Vladimir Putin could use the issue to trigger a cascade of defaults across Kiev's sovereign Eurobonds.
At a luncheon meeting hosted by Keidanren lobby group and the Japan Chamber of Commerce and Industry, corporate leaders expressed the key importance of the Association of Southeast Asian Nations for the revival of the Japanese economy.
Analysts said that though economies in Euro Zone and China were experiencing significant growth spikes in their economies, emerging economies of India, Italy and France are not faring well.
Air strike exchanges between Israel Defense Forces (IDF) and the Palestinian Front for the Liberation of Palestine had hinted more violent exchanges.
Australian manufacturers underwent change in level of operations.
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