Today the Office for National Statistics announced that GDP shrank at a rate of 0.8% between in the second quarter. This is higher than the 0.3% economists had predicted.The GDP has contracted for the fifth consecutive quarter and is approaching the levels of 1980s recession. On July 16th, IMF released the Staff Report for UK. …
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Germany can be considered as the barometer for Europe since it has the largest economy in Europe. With a strong base in manufacturing and leadership position in industries such as chemicals Germany’s economy growth is critical for Europe as well the rest of the world. In an article titled Germany’s Export Champions Slammed by Economic …
In the first six months of this year China’s GDP grew by 7.1% on year-over-year basis as per the latest data released by the National Bureau of Statistics of China yesterday. Economic growth by quarters: 1st Quarter, 2009 : 6.1% 2nd Quarter, 2009 : 7.9% The main reason for the strong growth was the government’s …
There are no signs of economic recovery in-spite of some folks talking about green shoots for the past few weeks. The following chart about retail sales reinforces this point. Source: The Wall Street Journal Last month there was a minor upturn in auto sales after many months of drastic declines. And gas prices rose last …
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The unemployment rate in Canada for the month of June stood at 8.6% in June. This rate is 0.9% lower the rate in the U.S. for June when it was 9.5%. Unemployment Rate in Canada for June,2009 via The Star It is interesting to note that the current US unemployment rate equals or exceeds the …
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