November 2012 International Economic Fundamentals
- Thread starter Ally
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The global trade slowdown has ended
November 1 is turning into an extremely busy day for economic data.
And one number you can't overlook is South Korean exports.
In October, exports jumped 1.2 percent from September's revised -2.0 percent.
Economists were looking for a 0.7 percent decline.
Read the full article here.
November 1 is turning into an extremely busy day for economic data.
And one number you can't overlook is South Korean exports.
In October, exports jumped 1.2 percent from September's revised -2.0 percent.
Economists were looking for a 0.7 percent decline.
Read the full article here.
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Eurozone's economic gloom deepens
LONDON ` The fourth quarter has so far brought no improvement in the fortunes of most of Europe`s economies, which now risk shrinking more than previously expected, gloomy data showed on Tuesday.
Purchasing managers indexes (PMIs), which gauge the activity of thousands of companies worldwide, showed eurozone businesses endured their worst month in October since June 2009, with little hope of a turnaround coming soon.
Read the full article here.
LONDON ` The fourth quarter has so far brought no improvement in the fortunes of most of Europe`s economies, which now risk shrinking more than previously expected, gloomy data showed on Tuesday.
Purchasing managers indexes (PMIs), which gauge the activity of thousands of companies worldwide, showed eurozone businesses endured their worst month in October since June 2009, with little hope of a turnaround coming soon.
Read the full article here.
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G20 fears raft of economic problems, US sharp fiscal tightening
MEXICO CITY - Finance officials from the world's largest economies on Monday called on countries to reject protectionism and currency manipulation despite a raft of economic problems that include the U.S. deficit.
Meeting in Mexico City one day before the U.S. elections, the G-20 finance ministers issued a statement saying the United States faces "a potential sharp fiscal tightening."
Read the full article here.
MEXICO CITY - Finance officials from the world's largest economies on Monday called on countries to reject protectionism and currency manipulation despite a raft of economic problems that include the U.S. deficit.
Meeting in Mexico City one day before the U.S. elections, the G-20 finance ministers issued a statement saying the United States faces "a potential sharp fiscal tightening."
Read the full article here.
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Eurozone recession to be worse, rebound slower
BRUSSELS ` Europe`s economy is still reeling and unemployment could remain high for years in spite of the progress made in solving the debt crisis, the European Union warned Wednesday as it downgraded its forecasts for the 27-country bloc.
The European Commission, the executive arm of the EU, on Wednesday revised its forecast for the economy of the entire region, saying that it now expected gross domestic product to contract by 0.3 per cent on an annual basis this year, rather than remaining flat as it predicted in the spring. It also said that the 17 countries that use the euro will contract, with GDP falling 0.4 per cent, against a previous expectation of a 0.3 per cent fall.
Read the full article here.
BRUSSELS ` Europe`s economy is still reeling and unemployment could remain high for years in spite of the progress made in solving the debt crisis, the European Union warned Wednesday as it downgraded its forecasts for the 27-country bloc.
The European Commission, the executive arm of the EU, on Wednesday revised its forecast for the economy of the entire region, saying that it now expected gross domestic product to contract by 0.3 per cent on an annual basis this year, rather than remaining flat as it predicted in the spring. It also said that the 17 countries that use the euro will contract, with GDP falling 0.4 per cent, against a previous expectation of a 0.3 per cent fall.
Read the full article here.
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OECD says there will be a 'dramatic shift' in the balance of economic power
Over the next 50 years, the OECD says emerging economies will account for an ever increasing share of output.
In its report, it says China will overtake the United States as early as 2016.
The OECD expects the current trends of faster growth in emerging economies to continue.
The result is that the largest of them, those with the biggest populations, will overtake what the OECD calls fast-ageing economic heavyweights, such as Japan and the eurozone.
Read the full article here.
Over the next 50 years, the OECD says emerging economies will account for an ever increasing share of output.
In its report, it says China will overtake the United States as early as 2016.
The OECD expects the current trends of faster growth in emerging economies to continue.
The result is that the largest of them, those with the biggest populations, will overtake what the OECD calls fast-ageing economic heavyweights, such as Japan and the eurozone.
Read the full article here.
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Chinese economy picks up pace
BEIJING`China's economy is starting to accelerate after nearly two years of slowing growth, giving a lift to global economic prospects, although sustained growth may require a big change in Beijing's economic policies.
Industrial and consumer indicators released Friday suggested that China's economy strengthened in October, albeit modestly, the second month in a row to show positive results. Industrial production grew 9.6% in October from a year earlier, an increase from the 9.2% gain in September.
Read the full article here.
BEIJING`China's economy is starting to accelerate after nearly two years of slowing growth, giving a lift to global economic prospects, although sustained growth may require a big change in Beijing's economic policies.
Industrial and consumer indicators released Friday suggested that China's economy strengthened in October, albeit modestly, the second month in a row to show positive results. Industrial production grew 9.6% in October from a year earlier, an increase from the 9.2% gain in September.
Read the full article here.
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China and India booms are over, claims U.S. Conference Board
Emerging markets face drastic slowdown, but Europe to fare worse
The catch-up boom in China, India, Brazil is largely over and will be followed by a drastic slowdown during the next decade, according to a grim report by America`s top forecasting body.
Europe`s prognosis is even worse, with France trapped in depression with near-zero growth as far as 2025 and Britain struggling to raise its speed limit to 1% over the next three Parliaments.
Read the full article here.
Emerging markets face drastic slowdown, but Europe to fare worse
The catch-up boom in China, India, Brazil is largely over and will be followed by a drastic slowdown during the next decade, according to a grim report by America`s top forecasting body.
Europe`s prognosis is even worse, with France trapped in depression with near-zero growth as far as 2025 and Britain struggling to raise its speed limit to 1% over the next three Parliaments.
Read the full article here.
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Eurozone falls into second recession since 2009
BRUSSELS/BERLIN ` The debt crisis dragged the eurozone into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed on Thursday.
The two leading economies both managed 0.2% growth in the July-to-September period.
But the resilience could not save the austerity-hit 17-nation bloc from overall contraction as the likes of The Netherlands, Spain, Italy and Austria shrank.
Read the full article here.
BRUSSELS/BERLIN ` The debt crisis dragged the eurozone into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed on Thursday.
The two leading economies both managed 0.2% growth in the July-to-September period.
But the resilience could not save the austerity-hit 17-nation bloc from overall contraction as the likes of The Netherlands, Spain, Italy and Austria shrank.
Read the full article here.
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As Eurozone slips back into recession, little hope for brighter 2013: Poll
LONDON ` The eurozone`s new recession will extend until the end of the year and 2013 promises little better than stagnation, a Reuters poll of more than 70 economists showed on Thursday.
Conducted before Thursday`s data that showed the eurozone returned to recession in the third quarter, the survey showed only meagre economic growth awaits the region over the coming year.
For the first time, economists expect the current recession to spill over into this quarter as well.
Read the full article here.
LONDON ` The eurozone`s new recession will extend until the end of the year and 2013 promises little better than stagnation, a Reuters poll of more than 70 economists showed on Thursday.
Conducted before Thursday`s data that showed the eurozone returned to recession in the third quarter, the survey showed only meagre economic growth awaits the region over the coming year.
For the first time, economists expect the current recession to spill over into this quarter as well.
Read the full article here.
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Spain hopes to reduce excess housing stock by offering residency to foreign house buyers
MADRID - Looking for a new place to call home? Spain is hoping to give you a little bit more than a welcome basket of baked goods if you decide to move there. In an attempt to reduce the country's bloated stock of unsold homes, the government is set to offer permanent residency to any foreigner provided they buy a house or apartment worth more than `160,000 ($200,000).
The plan, unveiled by Trade Ministry secretary Jaime Garcia-Legaz Monday and expected to be approved in the coming weeks, would be aimed principally at Chinese and Russian buyers. Spain has more than 700,000 unsold houses following the collapse of its real estate market in 2008 and demand from the recession-hit domestic market is stagnant.
Read the full article here.
MADRID - Looking for a new place to call home? Spain is hoping to give you a little bit more than a welcome basket of baked goods if you decide to move there. In an attempt to reduce the country's bloated stock of unsold homes, the government is set to offer permanent residency to any foreigner provided they buy a house or apartment worth more than `160,000 ($200,000).
The plan, unveiled by Trade Ministry secretary Jaime Garcia-Legaz Monday and expected to be approved in the coming weeks, would be aimed principally at Chinese and Russian buyers. Spain has more than 700,000 unsold houses following the collapse of its real estate market in 2008 and demand from the recession-hit domestic market is stagnant.
Read the full article here.
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Iran starts building $10 billion gas pipeline to Syria to boost energy sector
TEHRAN, Iran - Iran has started construction on a $10 billion natural gas pipeline to key ally Syria, a news agency reported Monday, in an apparent nod of support to President Bashar Assad's embattled regime and a further attempt by Tehran to boost energy exports battered by international sanctions.
The 1,500-kilometre (750-mile) project was first announced in July 2011 as Syrian rebels began stepping up the fight to topple Assad. Many analysts predicted the pipeline would remain in the planning stages because of the countless risks involved, but Iran's decision to start work ` even just the beginning sections ` is seen a public show of confidence in Assad's ability to ride out the uprising.
Read the full article here.
TEHRAN, Iran - Iran has started construction on a $10 billion natural gas pipeline to key ally Syria, a news agency reported Monday, in an apparent nod of support to President Bashar Assad's embattled regime and a further attempt by Tehran to boost energy exports battered by international sanctions.
The 1,500-kilometre (750-mile) project was first announced in July 2011 as Syrian rebels began stepping up the fight to topple Assad. Many analysts predicted the pipeline would remain in the planning stages because of the countless risks involved, but Iran's decision to start work ` even just the beginning sections ` is seen a public show of confidence in Assad's ability to ride out the uprising.
Read the full article here.
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Idiocy in Spain: Bank proposal to build more houses, issue more mortgages, despite massive inventory and drop in sales
Idiocy is running rampant in Spain. The Association of Spanish Banks (AEB) thinks the solution to the debt crisis is to build more houses in spite of the fact sales are down by as much as 85%.
Read the full article here.
Idiocy is running rampant in Spain. The Association of Spanish Banks (AEB) thinks the solution to the debt crisis is to build more houses in spite of the fact sales are down by as much as 85%.
Read the full article here.
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Japan exports drop again, recession fears escalate
Japan`s exports fell in annual terms for a fifth month in October, hurt by the fallout from a diplomatic row with China and feeble global demand, a further sign the economy may be slipping into recession and adding weight to calls for policy easing.
Shipments to China, Japan`s top export market, dropped an annual 11.6 per cent last month after a 14.1 per cent fall in September as a territorial dispute led to a consumer boycott of Japanese goods.
Read the full article here.
Japan`s exports fell in annual terms for a fifth month in October, hurt by the fallout from a diplomatic row with China and feeble global demand, a further sign the economy may be slipping into recession and adding weight to calls for policy easing.
Shipments to China, Japan`s top export market, dropped an annual 11.6 per cent last month after a 14.1 per cent fall in September as a territorial dispute led to a consumer boycott of Japanese goods.
Read the full article here.
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Coal resurgence calls undermine clean energy commitments
Despite stringent carbon emissions targets in Europe designed to slow global warming and massive investment in renewable energy in China, demand for this most ancient source of energy is greater than ever.
In fact, coal was the fastest growing form of energy in the world outside renewables last year, with production up 6% on 2010, twice the rate of increase of gas and more than four times that of oil. Consumption data paints a similar picture, while figures for this year are set to tell the same story.
Read the full article here.
Despite stringent carbon emissions targets in Europe designed to slow global warming and massive investment in renewable energy in China, demand for this most ancient source of energy is greater than ever.
In fact, coal was the fastest growing form of energy in the world outside renewables last year, with production up 6% on 2010, twice the rate of increase of gas and more than four times that of oil. Consumption data paints a similar picture, while figures for this year are set to tell the same story.
Read the full article here.
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Philippines, Vietnam, Taiwan protest map of territorial claims in new Chinese passports
TAIPEI, Taiwan - China has enraged several neighbours with a few dashes on a map, printed in its newly revised passports that show it staking its claim on the entire South China Sea and even Taiwan
Inside the passports, an outline of China printed in the upper left corner includes Taiwan and the sea, hemmed in by the dashes. The change highlights China's longstanding claim on the South China Sea in its entirety, though parts of the waters also are claimed by the Philippines, Vietnam, Taiwan, Brunei and Malaysia.
Read the full article here.
TAIPEI, Taiwan - China has enraged several neighbours with a few dashes on a map, printed in its newly revised passports that show it staking its claim on the entire South China Sea and even Taiwan
Inside the passports, an outline of China printed in the upper left corner includes Taiwan and the sea, hemmed in by the dashes. The change highlights China's longstanding claim on the South China Sea in its entirety, though parts of the waters also are claimed by the Philippines, Vietnam, Taiwan, Brunei and Malaysia.
Read the full article here.
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Finding skilled work a tough job all over the world
EDMONTON - With the lowest jobless rate and the fastest-growing economy in Canada, Alberta is again grappling with labour shortages.
The situation isn`t yet as severe as it was at the height of the last boom, but if existing trends persist, a repeat of 2006-2007 may be just a year or two away.
Which is why Alberta government and business leaders have spent the past year pounding the table, warning of a looming shortage of more than 100,000 workers by 2020.
Read the full article here.
EDMONTON - With the lowest jobless rate and the fastest-growing economy in Canada, Alberta is again grappling with labour shortages.
The situation isn`t yet as severe as it was at the height of the last boom, but if existing trends persist, a repeat of 2006-2007 may be just a year or two away.
Which is why Alberta government and business leaders have spent the past year pounding the table, warning of a looming shortage of more than 100,000 workers by 2020.
Read the full article here.