A Greek parliament report says the country’s debt is “out of control” and warns Greece will miss its budget deficit target for the year. Parliament’s State Budget Office blames government delays in implementing economic reform, long-standing tax collection problems, and the overall slowdown of the global economy. Finance Minister Evangelos Venizelos has already said the […]
Greek Parliament: Country’s Debt is ‘Out of Control’
Posted August 31st, 2011 at 6:50 pm (UTC-5)
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US Factory Orders Rise, Job Worries Continue
Posted August 31st, 2011 at 11:00 am (UTC-5)
Economic reports Wednesday showed the U.S. job market getting a bit worse, and business expansion slowing, while factory orders grew. New orders for U.S. factory goods rose more than expected in July as demand for transportation equipment surged. Data from the Commerce Department shows orders growing 2.4 percent, a big change from the prior month […]
Indian Economy Advances, but Slows from Earlier Pace
Posted August 30th, 2011 at 3:05 pm (UTC-5)
India says its economy advanced 7.7 percent from April to June, its slowest growth rate in a year-and-a-half and an indication that the weakening global economy is affecting the country. India has Asia’s third largest economy behind China and Japan, and has enjoyed robust growth. But on Tuesday the Indian government said growth is slowing […]
US Consumers Grow More Pessimistic
Posted August 30th, 2011 at 2:40 pm (UTC-5)
Americans’ confidence in the economy fell sharply in August, with the consumer confidence index hitting its lowest level in two years. Tuesday’s report from the Conference Board says consumers grew even more worried about jobs during the month. The business research group says consumers may have also been discouraged by political bickering in Washington over […]
US Consumers Grow More Pessimistic
Posted August 30th, 2011 at 10:50 am (UTC-5)
U.S. consumer confidence fell sharply in August, hitting its lowest level in two years. Tuesday’s report from the Conference Board says consumers grew even more worried about jobs during the month. The business research group says consumers may have also been discouraged by the lengthy bout of political bickering in Washington over the debt ceiling, […]
Finland Obstacle in Path of New Greek Bailout
Posted August 30th, 2011 at 10:45 am (UTC-5)
Finland has thrown an obstacle in the path of Greece’s new $158 billion international bailout, demanding that it get collateral from Athens to secure its investment in the deal. Barely a month ago, the 17 nations that use the common euro currency agreed to Greece’s second round of financial assistance in two years to help […]
Finland Obstacle in Path of New Greek Bailout
Posted August 30th, 2011 at 10:00 am (UTC-5)
Finland has thrown an obstacle in the path of Greece’s new $158 billion international bailout, demanding that it get collateral from Athens to secure its investment in the deal. Barely a month ago, the 17 nations that use the common euro currency agreed to Greece’s second round of financial assistance in two years to help […]
Japanese Jobless Rates Edges Up in July
Posted August 30th, 2011 at 12:50 am (UTC-5)
Japan’s unemployment rate rose slightly in July, indicating the nation still faces a long road to recovery from the March earthquake and tsunami. The government announced Tuesday that last month’s jobless rate was 4.7 percent, a rise of 0.1 percentage point from June. Economists had predicted the rate would remain unchanged. The figures excluded data […]
US Consumer Spending Rises in July
Posted August 29th, 2011 at 9:15 am (UTC-5)
U.S. consumer spending rose eight-tenths of a percent in July, the largest gain in about five months. Monday’s data comes from the Commerce Department. Investors found the newest report encouraging because spending dropped slightly in the previous month. Economists watch consumer spending closely because consumer demand drives about 70 percent of U.S. economic activity. News […]
Bernanke: Fed Still Has Ways To Bolster Economy
Posted August 26th, 2011 at 10:50 am (UTC-5)
U.S. Federal Reserve Chairman Ben Bernanke says the central bank still has a “range of tools” it can use to stimulate the economy, but he did not say when or how they might be used. Bernanke spoke Friday at a gathering to top economists at a mountain resort in Wyoming. Investors and economists have been […]
