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Weak Mexico industrial output pressures govt GDP forecast MEXICO CITY: Mexican industrial output unexpectedly stagnated in March compared with February, dampening growth hopes and putting pressure on the government's forecast for a third year running.Adjusted for seasonal swings, output was flat in March month-on-month, figures from the national statistics office showed on Tuesday. That fell short of expectations from a Reuters poll of economists for a 0.35 percent increase.Compared with the same month a year earlier, industrial production in March increased by 1.7 percent, below the survey forecast for a rise of 1.85 percent.The disappointing figures, which were dragged down by weak performances by the mining sector and the oil industry, suggest the government will have to cut its 2015 growth forecast after first quarter gross domestic product (GDP) data next week.Economists polled by the central bank in April forecast the economy would grow by almost 2.9 percent this year, a figure which would be an improvement on ...

Wage growth may be on tap as more Americans quit jobs SAN FRANCISCO: Americans are becoming more apt to quit their jobs, a government report showed on Tuesday, a sign that a stronger labor market and falling unemployment rate could result in healthier wage growth and inflation.The three-month quit rate for non-government jobs rose to 6.6 percent, the report showed, the highest since the second quarter of 2008 and up from 6.5 percent in the final quarter of 2014. Both wages and inflation tend to follow ...
India's cooling inflation, weak output data boost odds for interest rate cut NEW DELHI: India's retail inflation cooled to a four-month low in April on slower annual increases in food costs and industrial output growth slipped to a five-month low in March, boosting odds for an interest rate cut by the central bank next month.Retail prices rose 4.87 percent year-on-year last month, their slowest pace since December, close to a 4.90 percent annual rise predicted by analysts in a Reuters poll. In March inflation was 5.25 percent, ...
China says April economic growth within ‘reasonable range’ BEIJING: China's economic growth was within "a reasonable range" in April, but the government still needed to work hard to keep growth steady going forward, the National Bureau of Statistics said on Tuesday.More positive factors are emerging in China's economy but it still faces "complicated and grim economic environment at home and abroad", Sheng Laiyun, the bureau's spokesman said in comments published on the bureau's website."There are signs of improvement in the euro-zone economy, but ...
UK March industrial output gets unexpected oil boost LONDON: British industrial output grew at its fastest rate in six months in March, official data showed on Tuesday, after an unexpected bounce in oil and gas extraction, easing fears that strong economic growth is starting to slow.Industrial output rose 0.5 percent in March -- the strongest growth since September and above economists' forecast of no change -- after inching up by 0.1 percent in February, the Office for National Statistics said.Manufacturing also grew faster ...
OECD says signs of US economy flagging, China loses more steam PARIS: Economic growth appears to be flagging in the United States and continues to slow in China, while France and Italy are outperforming as the euro zone economy recovers, a monthly OECD measure showed on Tuesday.The composite leading indicators (CLIs), designed to anticipate economic turning points, signalled stable growth momentum in the OECD area as well as Japan, Germany, Britain and India, the OECD said."In the euro area, growth momentum continues to strengthen, particularly in ...
Tesco names Deloitte as new auditor after accounting scandal LONDON: Tesco, Britain's biggest retailer, has named Deloitte as its new auditor, ending its 32-year relationship with PricewaterhouseCoopers (PwC) after an accounting scandal. The appointment follows a formal tender process in which PwC did not take part. "We and PwC mutually agreed that they would not take part in the tender process. PwC will therefore stand down as the company's auditors at the conclusion of the 2015 annual general meeting," Tesco said on Monday. Tesco ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln