Sign in | Join free

Economic news in brief

Economic news in brief Source:
Date: 16-07-2012
Visits: 202
Very Poor

International market
1. Confidence among U.S. consumers unexpectedly declined in July to the lowest level this year as Americans grew more pessimistic about their finances. The University of Michigan index of consumer sentiment dropped to 72 this month from June’s 73.2 reading.

2. The euro halted a two-week decline on speculation signs of a global slowdown will prompt the biggest central banks to add to measures to support growth.

3. Italy successfully sold €5.25 billion of short- and long-term bonds Friday, despite being downgraded by Moody's a day earlier. The Italian government sold €3.5 billion of 3-year bonds at an average yield of 4.65%, down from 5.30% at the last auction in June.

4. German Chancellor Angela Merkel said Sunday she expects Germany’s parliament to approve a bailout package for Spain’s banks that is being put together by euro-zone finance ministers, news outlets reported. German lawmakers will vote on Spain’s $122 billion rescue package July 19.

5. Africa, as a continent, is seeing economic growth hovering above 5%, according to the International Monetary Fund—with rates forecast to approach 10% in growth hotspots such as Angola and Ghana this year.

1. The Ministry of Finance (MOF) plans to restart selling up to 40 billion yuan (6.32 billion U.S. dollars) worth of electronic savings bonds next week, after previous issuances were suspended last week due to a surprise rate cut by the central bank.

2. China is to promote the yuan's use in settling trade and investment with Africa, and encourage the more active development of Chinese financial institutions across the continent, a senior central bank official said on Friday.

3. China's retail sales growth slowed in the first half of the year, despite the government's efforts to stimulate economic growth by trying to boost domestic consumption.

The National Bureau of Statistics said on Friday that total retail sales of consumer goods rose 14.4 percent to 9.82 trillion yuan ($1.56 trillion) in the first six months, a real growth of 11.2 percent after adjusting for inflation.

4. China's real estate investment growth slowed sharply in the first half of this year, dragging down the overall economy, as the central government pledges to maintain its curbs on the property market.

Real estate investment grew 16.6 percent in the first six months of this year, compared to 32.9 percent in the same period last year, the National Bureau of Statistics said on Friday.
like 432 Unlike 48
Users Comments
No comments to display
Are you sure you want to delete this comment.
Add your comment
User Name:
Email: Will not be published
Rate This article:
Maximum 3500 characters
Your name
Your email address
Your friend email address
  • /images/ourservices/125-600/pricetrend.jpg
  • /images/ourservices/125-600/product.jpg
  • /images/ourservices/125-600/videos.jpg
Suntex Asia Limited
32367 Users
have already joined Shouldn't you?
Full registration will provide you access to all our free services. It takes only one minute and it is free Go here
Quick registration (it's free)
Accesss to some of our free services
Select membership
Full Name
User Name
Enter the code
(Note: If you can't read the letters, reload the page to generate a new one.)
terms and conditions
Members Login
Already registered
Forgot your password
golden fees
Enter your e-mail address
Choose your room