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October 2012 International Economic Fundamentals

Ally

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News articles for October 2012.
 

Ally

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Eurozone warns of 'economic and social disaster' as unemployment hits record






BRUSSELS ` The EU warned on Monday of an `economic and social disaster` if joblessness among young Europeans continued to rise, calling for a joint effort to combat record high unemployment in the countries which share the euro.




Joblessness in the 17 country bloc was 11.4% of the working population in August, stable compared to July on a statistical basis, but with another 34,000 people finding themselves out of work in the month, the EU`s statistics office Eurostat said. It was 16th straight monthly rise.





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India inflation rises 7.8% in September, making interest rate cut unlikely this month




MUMBAI, India - India's inflation accelerated to 7.8 per cent in September after the government hiked subsidized fuel prices to rein in the budget deficit.




The number released Monday is worse than expected and gives the central bank little room to cut its key interest rate to counter slowing economic growth when it meets later this month.




Economists polled by CNBC-TV18 forecast inflation of 7.7 per cent in September.





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As IMF warns of global slowdown, investors brace for more pain




The International Monetary Fund`s darkening outlook for the Canadian and global economies underscores that Canada`s recent stock market underperformance could persist, market strategists said Tuesday.





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Weak earnings plague U.S. and Europe





European and U.S. corporate earnings are clearly in a down trend.



When companies like Google, IBM, GE, DuPont, 3M, Intel, Amazon, and Apple ` especially Apple ` all miss or give uninspiring fourth quarter guidance, even the most optimistic have to admit that things aren`t going well.




But despite the fact that earnings season has been challenging, investors should keep looking forward as the U.S. economy has been showing signs of improvement.




The first read of third quarter GDP came in better than expected, the U.S. housing market continues to recover, and the FOMC reassured everyone that its commitment to quantitative easing and ultra low interest rates remains intact.





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