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German industry downgrades growth forecast BERLIN: The German BDI industry federation downgraded Thursday its growth forecast for the current year as the outlook for Europe's biggest economy continues to cloud over. BDI chief Markus Kerber said the federation is now pencilling in growth of 1.2-1.4 percent for the current year, after already cutting the forecast in September. "The economic outlook has darkened somewhat," but Germany would not slip into recession, Kerber said. BDI had already revised downwards its growth forecast for 2014 from 2.0 percent to 1.5 percent in September to take into account the economic fallout from the different geopolitical crises around the world which was weighing on investment. "The German economy is suffering above all from weak investment," Kerber said, pointing to high unemployment and weak growth across the entire eurozone and the crises in the Middle East and Ukraine. The BDI chief argued that exports to other countries were making up for ...

Eurozone business activity picks up, worries remain: survey BRUSSELS: Business activity in the 18-nation eurozone strengthened slightly in October, a key survey showed Thursday, but overall the economy remained weak with new orders low and pressure on prices.Markit Economics said its Composite Purchasing Managers Output Index (PMI) rose marginally to 52.2 points in October from a 10-month low of 52.0 points in September.While higher, the reading "was the second-weakest reading this year" and below the average seen in the year to date, the ...
UK retail sales fall in September, hit by weak clothing demand LONDON: British retail sales fell more than expected in September, adding to signs that the country's economic recovery is losing some of its pace.Retail sales volumes fell 0.3 percent on the month, their weakest performance since January, to show growth of 2.7 percent on the year, the Office for National Statistics said.Economists had expected a fall of 0.1 percent on the month and a gain of 2.8 percent on the year.An ONS official said mild ...
Spanish unemployment falls again, but economic outlook less bright MADRID: Spain's unemployment rate fell to its lowest in almost three years in the third quarter as the services and construction sectors expanded, though the central bank warned weakness abroad could weigh on the country's economic recovery.The headline jobless rate fell to 23.7 percent, data from the National Statistics Institute showed on Thursday, down from 24.5 percent in the previous quarter and below a Reuters forecast of 24.3 percent.The figure was the lowest registered since ...
French business slump deepens as firms slash prices: PMI PARIS: France's business downturn deteriorated in October to an eight-month low as firms cut prices at the fastest rate since the global financial crisis in the face of weak demand, a survey showed on Thursday.The pace of price cutting in the euro zone's second-biggest economy may feed European Central Bankconcerns as it battles to ward off deflation in the 18-nation bloc.Data compiler Markit's preliminary composite purchasing managers' index (PMI) for October fell to 48.0 from ...
Euro zone business growth unexpectedly gains pace, prices still falling: PMI LONDON: Euro zone businesses performed much better than anyone expected this month but did so by slashing prices again, and optimism about the future fell to its lowest level in over a year, surveys showed on Thursday.The growth data will provide some relief for the European Central Bank but news that firms cut prices for the 31st month, and at the steepest rate than in almost five years, will stoke fears of deflation in the ...
Polish jobless rate falls to 11.5pc in September, below forecast WARSAW: Poland's registered unemployment rate fell to 11.5 percent in September from 11.7 percent a month earlier, statistics office data showed on Thursday.Analysts polled by Reuters had expected the rate at 11.6 percent.Copyright Reuters, 2014 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln