Global Business & Economy
Friday, 10 May 2013 14:35
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LONDON: Britain's trade-in-goods deficit narrowed in March, official data showed on Friday.The deficit dipped to £9.1 billion ($14.0 billion, 10.8 billion euros) in March, the Office for National Statistics said in a statement. That compared with a February deficit of £9.2 billion in February.Britain recorded an overall trade deficit of £3.1 billion, when a surplus in the trade of services is included in the data. That compared with a February deficit of £3.4 billion.The data sparked fresh hopes over the outlook for the British economy, analysts said."March's trade data provides a further piece of reasonably good economic news," said economist Martin Beck at research group Capital Economics."The overall monthly trade deficit narrowed from £3.4 billion to £3.1 billion, meaning that net trade probably provided a marginal boost to GDP growth in the first quarter."Copyright AFP (Agence France-Presse), 2013 ...
FRANKFURT: Germany's trade surplus increased in March for the third month in a row, rising to 18.8 billion euros from 16.8 billion euros in February, unadjusted data from the federal statistics office showed on Friday.But seasonal adjusted data showed that the trade surplus fell slightly to 17.6 billion euros ($23.0 billion) from 17.7 billion dollars in February.Copyright AFP (Agence France-Presse), 2013 ...
NEW DELHI: India's industrial output grew by a surprise 2.5 percent in March from a year ago, official figures showed Friday, fuelling hopes that the country's sharp economic slowdown may have bottomed out.The March output growth from India's factories, mines and utilities surpassed financial market expectations of around a two percent increase and was up from a 0.6 percent rise posted in February.But the output figures still are far below double-digit rates recorded in previous ...
NEW YORK: US natural gas futures ended higher on Thursday for a second straight day, reversing course as technical buying pulled prices out of an early slide that drove the front contract to a five-week low after data showed swelling inventories.The US Energy Information Administration reported that total domestic gas inventories rose last week by 88 billion cubic feet to 1.865 trillion cubic feet.The weekly build was above the Reuters poll estimate of 83 bcf ...
LISBON: Portugal's unemployment rate rose sharply in the first quarter of 2013 to a record high 17.7 percent from 16.9 percent in the fourth quarter of last year, data from the national statistics institute INE showed on Thursday.For the whole of 2013 the government has forecast a rate of 18.2 percent and 18.5 percent for next year as the effects of recession and austerity measures take hold.The record high comes as a new government spending ...
ATHENS: Greek unemployment climbed to 27 percent of the workforce in February compared with 26.7 percent a month earlier, the state statistics agency said on Thursday.The number of unemployed rose to 1,320,189 while 3,568,186 were registered as employed.The highest rate was registered for youths aged 15-24, at 64.2 percent.A year ago in February unemployment had been 21.9 percent, the agency said.The jobless rate for January had been originally measured at 27.2 percent but was revised ...
SEOUL: South Korea unexpectedly trimmed its benchmark interest rate by 0.25 percentage points Thursday -- the first cut for seven months aimed at boosting an economy hit by slumping exports.The move announced by the central Bank of Korea (BOK) leaves the key policy rate at 2.50 percent, following two similar cuts last year in July and October.South Korea's export-reliant economy -- the fourth largest in Asia -- has been badly hit by shrinking global demand, ...
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