GDP

Is Christmas cheer making consumers optimistic?

A Christmas tree is seen inside the Blue Room of the White House in Washington
Recent economic reports indicate that the average U.S. consumer is feeling more confident about the economy and intends to spend more with that belief. Consumer spending, which forms about 70 percent of GDP growth, rose in November for the sixth straight month, the Commerce Department reported on Thursday. Personal income also inched up marginally, which prices also rose during the month.
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US consumer confidence touches 6-month high in Dec.

Consumer confidence in the U.S. improved to its best level in six months during December but the state of consumers' finances still remains grim, the Thomson Reuters/University of Michigan Survey said on Thursday.
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A customer looks at laptops at a Dell outlet in Beijing December 13, 2010.

How will China's economy perform in 2011?

As the global economy is entering arguably another tumultuous year, spotlight is sharply on the prospects, policies and risks of China's economy, which has all but sailed past Japan's as the world's second largest after the United States.
Median housing prices decline

Existing home sales rose during November

Existing home sales in the U.S. picked up again in November, after a surprising drop during October, according to a report by the National Association of Realtors.
Consumer watchdog protests online GST proposal

US third quarter GDP revised up

The U.S. economy grew 2.6 percent in the third quarter, according to a third estimate by the U.S. Commerce Department, up from the 2.5 percent estimate given in November.
Bank of England Governor King poses with Britain's Chancellor of the Exchequer Osborne at the Lord Mayor's Dinner to the Bankers and Merchants of the City of London

BoE panel still split three ways over monetary policy

Members of Bank of England's policy panel continue to be split three ways over new policies to contain inflation and spur economic growth, according to the minutes released by the Monetary Policy Committee on Wednesday.

What IHS predicts for global economy in 2011

Contrary to the prevailing view, the U.S. economy will gain growth momentum in the year ahead, while GDP will grow stronger in Europe and Japan, research firm IHS Global Insight has said in its forecast for 2011.
Chancellor George Osborne listens to David Cameron

British government borrowing soars to record high

New public sector borrowing in the U.K soared to a record high of 22.3-billion pounds sterling last month, higher than analysts expected, and up from 17.4-billion pounds a year ago, according to the Office for National Statistics (ONS).
Bank of England Governor King poses with Britain's Chancellor of the Exchequer Osborne at the Lord Mayor's Dinner to the Bankers and Merchants of the City of London

CBI downgrades UK GDP forecast for Q1 2011

The CBI, the British business organization, reduced its forecast for UK economic growth in the first quarter of 2011 to 0.2 percent from 0.3 percent; although it noted that the recovery is expected to be “maintained.”
Spain's Education Minister Gabilondo talks to Labour Minister Gomez and Industry Minister Sebastian at Spanish parliament in Madrid

Spain needs deeper reforms: OECD

The Spanish economy is slowly recovering, but broad reforms will still be required to create jobs and improve government finances, according to a report from the Organisation for Economic Co-operation and Development (OECD).
Ireland's Prime Minister Brian Cowen pauses during a news conference at Government Buildings in Dublin - file photo.

Moody’s cuts Ireland rating by five notches

Moody's Investor Services on Friday downgraded debt-stricken Ireland's rating by five notches, citing the country’s troubled banking sector, uncertain economic outlook and decline in the Irish government's financial strength.

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