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 […]
Greek Economy Shrinking Faster
Posted April 24th, 2012 at 1:05 pm (UTC-5)
Greece’s central bank says the country’s troubled economy is shrinking even faster than first thought. The bank’s governor, George Provopoulos, said Tuesday the Greek economy will contract as much as 5 percent this year — the country’s fifth straight year of recession. Just a month ago, the bank had predicted the economy would shrink 4.5 […]
US New-Home Sales Fell in March
Posted April 24th, 2012 at 12:20 pm (UTC-5)
Sales of new homes in the U.S. fell last month, but still are edging higher than in the last months of 2011. The government’s Commerce Department said Tuesday that buyers in March bought new houses at an annual pace of 328,000, off more than 7 percent from a spurt in sales in February. The sales […]
Greek Economy Shrinking Faster
Posted April 24th, 2012 at 10:05 am (UTC-5)
Greece’s central bank says the country’s troubled economy is shrinking even faster than first thought. The bank’s governor, George Provopoulos, said Tuesday the Greek economy will contract as much as 5 percent this year — the country’s fifth straight year of recession. Just a month ago, the bank had predicted the economy would shrink 4.5 […]
Eurozone Deficit Falls, but Still Short of Mandated Level
Posted April 23rd, 2012 at 1:20 pm (UTC-5)
The 17 European nations that use the euro slashed their government deficits last year by imposing a host of austerity measures, but collectively still not enough to reach the level mandated by the European Union. In all, the EU statistics office said Monday that the currency bloc cut its deficit spending to 4.1 percent of […]
New IMF Loan Fund Tops $430 Billion
Posted April 20th, 2012 at 3:30 pm (UTC-5)
The International Monetary Fund says it has raised more than $430 billion in new reserves to combat future economic troubles around the world. The international lending agency had set a $400 billion goal for a new rescue fund, in part to combat the possible global economic fallout if the European governmental debt crisis worsens again. […]
US Opinion Poll Suggests ‘Economic Optimism’ Waning
Posted April 20th, 2012 at 11:00 am (UTC-5)
A new U.S. public opinion poll finds a surge in Americans’ optimism about the nation’s economic recovery may have stalled. The survey, released Friday by Quinnipiac University, finds the percentage of voters who think the economy is in a recession has grown by two percent since February, and the percentage who believe it is beginning […]
IMF Loan Fund Growing
Posted April 20th, 2012 at 4:05 am (UTC-5)
Finance ministers from the world’s 20 biggest economies enter a second day of talks Friday in Washington, with the European debt crisis likely to dominate the discussions. The International Monetary Fund is seeking an additional $400 billion from member nations to boost its ability to protect the world economy against the eurozone debt crisis. The […]
IMF Loan Fund Growing
Posted April 19th, 2012 at 10:45 am (UTC-5)
The chief of the International Monetary Fund says it is on the verge of sharply increasing the size of the fund it has to lend to economically troubled nations around the world. As global finance ministers gather in Washington for springtime IMF and World Bank meetings, the International Monetary Fund says it already has collected […]
Obama Promotes His Economic Plan in Ohio
Posted April 18th, 2012 at 4:25 pm (UTC-5)
U.S. President Barack Obama said Wednesday that his Republican rivals are trying to help the wealthiest Americans rather than spend money to help the middle class. Mr. Obama told an audience at a campaign stop at a community college in the Midwestern state of Ohio that he wants to ensure tax fairness for all, while […]
