Tag Archive | "gross domestic product"

French economy stagnant in first quarter of 2012

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PARIS (AP) – France’s economy did not grow in the first quarter of the year, raising concerns that the country could be headed toward a recession. The national statistics agency Insee said Tuesday that GDP was stagnant from January to March. It also revised down growth in the fourth quarter of last year from 0.2 [...]

Germany confirms 2012 growth forecast

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BERLIN – Germany’s government is reaffirming its growth forecast of 0.7 percent this year despite the turmoil of the European debt crisis. Economy Minister Philip Roesler said Wednesday the government expects the economy to pick up more strongly later this year amid steady exports and robust domestic demand. Gross domestic product is forecast to grow [...]

Germany raises its 2012 GDP growth forecast

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BERLIN – Top economic institutes say Germany’s economy is picking up despite the turmoil of the European debt crisis. The institutes raised their growth forecast for this year to 0.9 percent from a forecast of 0.8 percent in their last outlook in October. In a twice-yearly report, the economists said steps taken by European Union [...]

Sweden lowers 2012 GDP outlook

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STOCKHOLM – Sweden’s government has cut its economic outlook for 2012, saying problems in the eurozone are also affecting the Nordic country. The center-right government on Monday lowered its expectation for 2012 gross domestic product growth to 0.4 percent from 1.3 percent previously. It expects GDP growth to recover to 3.3 percent in 2013. Finance [...]

Spain’s financial woes in the spotlight at EU meeting

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BRUSSELS – The decision by finance ministers of the 17-country eurozone to give Spain some leeway on cutting this year’s deficit has already triggered demands from other European countries for more fiscal leniency.┬áThe move also signals the difficulty Europe faces in enforcing the strict spending rules it has worked out over the past two years [...]

Spain misses 2011 deficit target

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MADRID – Spain says its budget deficit for 2011 has come in at 8.5 percent of GDP, even worse than the new conservative’s own already pessimistic prediction. The increase will likely ratchet up the pressure on the government to take enact more austerity measures to get the deficit down to the stated goal of 4.4 [...]

Greece secures second bailout deal

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BRUSSELS – Early Tuesday morning Greece secured its second bailout package to avoid a disorderly default in exchange for severe austerity measures. The outcome of the talks secured a 130 billion euro rescue package, 0r $172 billion, that will force private holders of Greek debt even steeper losses. The terms of the deal were not [...]

IMF to play smaller role in second Greece bailout deal

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BRUSSELS, Belgium – Greece premier Lucas Papademos travelled to Brussels on Sunday where a vital meeting would be held on Monday morning to secure his country a second bailout deal. The deal is worth 130 billion euros and is needed to avert a Greek default that could potentially spiral the debt of the rest of [...]

Japan: premier Noda vows to reign in spending

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TOKYO – Japan’s prime minister Yoshihiko Noda has asked opposition politicians to push for tax and social security reform in order to rein the country’s “bloated deficit for the sake of future generations,” reports the AP. In a speech Mr Noda also promised to reduce the number of the country’s nuclear plants and promised to [...]

Brazilian economy contracts in third quarter

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BRASILIA, Brazil – Brazil’s government says economic growth in Latin America’s biggest country stalled in the third quarter. The IBGE statistics bureau said Tuesday that Brazil posted 0.1 percent growth in gross domestic product between the second and third quarter of 2011. The IBGE says that the economy grew 2.1 percent over the same quarter [...]

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