Spain’s economy has slumped into a recession. Spain’s National Statistics Institute data showed Monday that the country’s economy shrank 0.3 percent in the first quarter of 2012, after a similar contraction in the final three months of last year. The news comes as Standard & Poor’s agency downgraded the ratings of several top Spanish banks, […]
US Economic Growth Slows
Posted April 27th, 2012 at 12:40 pm (UTC-5)
U.S. economic growth slowed down in the first three months of this year, falling to an annual rate of 2.2 percent. Friday’s report from the Commerce Department says growth was cut eight-tenths of a percentage point as governments cut spending, and imports exceeded exports. These negatives outweighed consumer spending increases and some improvements in the […]
Spain’s Economic Fortunes Plummeting
Posted April 27th, 2012 at 10:05 am (UTC-5)
With Spain’s economic woes deepening, its foreign minister says the country is facing “a crisis of enormous magnitude.” The Madrid government said Friday that nearly a quarter of its workers are now unemployed — the worst rate in the 17-nation euro currency bloc. The new jobless figure is an 18-year high in Spain, which has […]
US Economic Growth Slows
Posted April 27th, 2012 at 9:40 am (UTC-5)
U.S. economic growth slowed down in the first three months of this year, falling to an annual rate of 2.2 percent. Friday’s report from the Commerce Department says growth was cut seven-tenths of a percentage point as governments cut spending, and imports exceeded exports. These negatives outweighed consumer spending increases and some improvements in the […]
S&P Cuts Spain’s Credit Rating
Posted April 26th, 2012 at 7:50 pm (UTC-5)
The Standard & Poors agency has cut Spain’s credit rating Thursday two notches, saying the outlook is negative. In reducing the country’s sovereign debt rating from “A” to “BBB+,” S&P cited what is calls the risk that Spain’s debt could expand while the economy shrinks. The financial rating agency predicted that the Spanish economy will […]
US Jobless Claims Stay Near Three-Month High
Posted April 26th, 2012 at 9:50 am (UTC-5)
First-time claims for U.S. unemployment benefits held steady last week near a three-month high, a sign that new hiring in the world’s largest economy may have slowed. The government’s Labor Department said Thursday that 388,000 jobless workers made new claims for financial assistance, down only slightly from the week before. The number of new claims […]
Central Bank Says US Economy Expanding ‘Moderately’
Posted April 25th, 2012 at 4:05 pm (UTC-5)
The U.S. central bank says the American economy is growing “moderately” and that the country’s high unemployment rate could fall below 8 percent late this year. After a two-day meeting of its chief policy makers in Washington, the Federal Reserve refrained Wednesday from adopting new stimulus measures to boost the economic fortunes for the world’s […]
Central Bank Says US Economy Expanding ‘Moderately’
Posted April 25th, 2012 at 1:40 pm (UTC-5)
The U.S. central bank says the American economy is growing “moderately” and is refraining from adopting new stimulus measures. After a two-day meeting of its chief policy makers in Washington, the Federal Reserve said Wednesday it expects that economic growth will “remain moderate” over the coming months and “then to pick up gradually.” The central […]
Britain Slips into Recession
Posted April 25th, 2012 at 9:40 am (UTC-5)
Britain is back in recession. The Office for National Statistics on Wednesday said the country’s economy shrank by two-tenths of a percent for the first three months of the year. That drop follows a three-tenths of a percent decline over the last three months of 2011. A recession is defined as two consecutive three-month periods […]
S&P Downgrades India’s Outlook to Negative
Posted April 25th, 2012 at 8:00 am (UTC-5)
Standard and Poor’s has cut India’s credit rating outlook from stable to negative, citing the country’s slowing economic growth and widening deficit. The U.S. ratings agency on Wednesday maintained India’s credit rating at BBB-, the lowest investment grade rating. But it said India has a one in three likelihood of a downgrade if growth prospects […]
