January 22, 2009 |
BEIJING, Jan. 22 -- China's economic slump deepened in the final quarter of 2008 as the impact of the global financial crisis spread, according to data released Thursday, adding to the threat of more heavy job losses and possible unrest. Economic growth plunged to 6.8 percent compared with a year earlier, the National Bureau of Statistics reported, down sharply from 9 percent the previous quarter. "The international financial crisis is deepening and spreading, with continuing negative impact on the domestic...
January 29, 2013 |
Don't be fooled by economists' predictions of slower economic growth during the fourth quarter. The forecasts mask what many believe is a pretty solid recovery. The government will release its first estimate of the nation's gross domestic product Wednesday morning, and the consensus prediction is for a paltry growth rate of 1.1 percent. Some are expecting growth to slow to as little as 0.4 percent — barely above stall speed. But dig a little deeper, and the picture is not so grim.
May 24, 2011 |
As Republican leaders urge a steep and swift reduction in government spending, they are making an unorthodox argument: that these cuts would strengthen economic growth not only in the distant future but almost immediately. That view is at odds with many of the nonpartisan groups that analyze the economy. Research departments of leading banks and agencies such as the Federal Reserve and the Congressional Budget Office warn that deep cuts would come at the cost of weaker growth and...
November 29, 2011 |
SAN FRANCISCO — Americans are weighed down by debt, and Europe is in crisis. So Asian nations need to step up and encourage their citizens to spend so that they can help drive global economic growth, a senior Federal Reserve official said Tuesday. With consumer demand in the United States and other advanced economies hampered by economic troubles, "I believe it is crucial for emerging market economies, particularly in Asia, to take further steps to boost domestic demand, providing support for...
March 2, 2012 |
BRUSSELS — European leaders said Friday that they are on the way to bringing the continent's debt crisis under control and pledged to increasingly refocus their efforts on reviving the economy and fighting unemployment. The shift in emphasis, at a summit of the 27-nation European Union, was seen as an attempt to respond to growing criticism that a seven-month stretch of relentless budget-cutting has gone too far in slowing European economies, causing unacceptable hardships and putting more than 10 percent of...
January 23, 2013 |
The pace of global economic growth is slowing and the major developed nations continue to pose the major threats as they battle with high debt and below-par growth, the International Monetary Fund said Wednesday in its latest world forecast. The IMF forecasts world growth of 3.5 percent for 2013, slightly less than the organization projected in its previous report in October. In a news conference, IMF chief economist Olivier Blanchard said he thought current conditions warranted "some cautious optimism"...