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German consumer confidence hits 13-year high: survey FRANKFURT: Consumer confidence in Germany is at its highest since late 2001, as the weaker euro and falling energy prices fuel optimism regarding the outlook for Europe's biggest economy, a poll found on Thursday."The tug of war in Europe over the future of Greece has left no impression whatsoever on German consumers," market research company GfK said in a statement."Consumers feel the economy is in a clear uptrend, buoyed by the weak euro, which boosts exports, and low energy costs," the statement said. "Income expectations and a willingness to spend are rising in tandem with the brighter economic prospects."Looking ahead to next month, GfK's headline household confidence index was forecast to rise to 10.0 points in April from 9.7 points in March. "That is the highest level since October 2001. The consumer climate in Germany remains in a clear uptrend," the statement said. Sentiment in Europe's top economy is on ...

US durable goods orders fall in February WASHINGTON: Orders for US durable goods sagged in February after January's gain, led by declines in auto and aircraft orders, the Commerce Department said Wednesday.New orders for long-lasting manufactured goods fell 1.4 percent from January to $231.3 billion, the third decline in four months.Excluding the transportation sector, new orders for durable goods fell 0.4 percent.January's more buoyant data was also revised lower, underscoring the general weakness of the manufacturing sector.Non-defense capital goods excluding the often-volatile ...
EU, US 'likely' to miss year-end target for free trade deal: Latvia RIGA: The EU and United States will likely miss a year-end target to seal the world's biggest-ever free trade deal, current European president Latvia said Wednesday."During our (EU) presidency and during the next presidency of Luxembourg, most likely these negotiations will not be concluded," Latvia's Foreign Minister Edgars Rinkevics told reporters in the capital Riga, referring to talks on the controversial Transatlantic Trade and Investment Partnership, or TTIP.Latvia's six-month stint as EU president ends when ...
Greece fails to convince Europe on 1.2bn euro payment ATHENS: Greece does not have the right to 1.2 billion euros ($1.3 billion) it believed it mistakenly returned to the eurozone's bailout fund, an spokesman for the fund said Wednesday after talks with Greek officials.A working group from the Eurogroup of eurozone finance ministers met with Greek officials to discuss the amount returned by Greece's financial stability fund (HFSF) to the European Financial Stability Facility (EFSF) in late February."There was agreement that, legally, there was ...
US business spending gauge tumbles in February WASHINGTON: US business investment spending plans fell for a sixth straight month in February, likely weighed down by a strong dollar and weak global demand, which could see economists further lower their first-quarter growth estimates.The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, dropped 1.4 percent last month after a revised 0.1 percent dip in January.The so-called core capital goods orders last rose in ...
US core inflation has room to fall: Goldman NEW YORK: US core inflation still has room to decline from a stronger dollar and lingering effect from the recent collapse in crude prices, a Goldman Sachs economist wrote in a research note published on Wednesday.The core index of the government's consumer price index that excludes volatile food and prices will likely bottoming at 1.5 percent in the middle of the year before gradually increasing in the second half of 2015, Goldman economist Kris Dawsey ...
Weak US business spending data points to Q1 growth slowdown WASHINGTON: US business investment spending plans fell for a sixth straight month in February, likely weighed down by a strong dollar and weak global demand, which could lead economists to further lower their first-quarter growth estimates.The Commerce Department's durable goods report on Wednesday was the latest data to suggest economic growth braked sharply early in the year, in part due to bad weather and a now-settled labor dispute at the country's busy West Coast ports.While ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
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WeeklyMarch 13, 2015
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