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US jobless claims drop to lowest level in 14 years WASHINGTON: New claims for US unemployment insurance benefits unexpectedly fell last week to their lowest level in 14 years, the Labor Department said Thursday.Initial claims dropped by 23,000 to 264,000 in the week ending October 11, an eight percent decline from the previous week.That is the lowest weekly number for jobless claims since April 15, 2000 when 259,000 people filed, and another sign of an improving jobs market.Analysts expected last week's claims to rise slightly to 290,000.The Labor Department gave no reason for the steeper-than-expected decline.Jobless claims, a sign of the pace of layoffs, have now remained under 300,000 for five consecutive weeks, and the monthly average has fallen to 283,500, 4,250 fewer than the monthly average reported last week.That also is the lowest level in 14 years, since the week of June 10, 2000, when the monthly average was 283,500.A year ago last week, new claims numbered 355,000. From ...

Deflation stalks Europe's periphery as inflation hits 5-year low BRUSSELS: Deflation hit five peripheral euro zone countries in September as inflation slipped to its lowest for five years and exports faltered, data on Thursday showed, offering little hope that the bloc will avoid its third recession in six years.While consumer inflation at 0.3 percent was unchanged from Eurostat's Sept. 30 estimate and met market expectations, Greece, Spain, Italy, Slovenia and Slovakia showed deflation in the month on persistently depressed household demand.With such a minimal ...
Switzerland lowers growth forecasts GENEVA: Switzerland has lowered its growth forecast for 2014 from 2.0 to 1.8 percent, the wealthy Alpine nation's statistics agency said on Thursday.The State Secretariat for Economic Affairs, or SECO, also revised down its growth forecast for 2015, from 2.6 to 2.4 percent, suggesting that while Switzerland has survived years of European financial turmoil relatively unscathed, weakness in the eurozone has begun to rub off.Copyright AFP (Agence France-Presse), 2014 ...
Orange, Renault stake sales not priority for France PARIS: French Economy Minister Emmanuel Macron said on Thursday that selling state stakes in telecoms company Orange or carmaker Renault was not a priority for the government as it undertakes a privatisation drive."For the companies that you have cited (Orange and Renault), that is not a priority for the time being, and our desire is not to reduce stakes in those two companies," Macron told France Inter radio.The French government has said it plans to ...
Swiss government cuts growth forecasts for this year and next ZURICH: The Swiss government cut its economic growth forecasts for this year and next on Thursday, citing a gloomy outlook for the neighbouring euro zone. "In light of the dampened short-term economic outlook for the Euro region, including Germany, the conditions deteriorated compared to the last forecasts in June," economists at the State Secretariat for Economics (SECO) said in a statement. The SECO cut its growth forecast to 1.8 percent for 2014 from a previous ...
China overseas investment almost doubles in September: govt BEIJING: China's overseas investment almost doubled year-on-year to $9.79 billion in September, the government said Thursday, again exceeding incoming funds even though they recovered from multi-year lows.Foreign direct investment (FDI) -- which excludes financial sectors -- into China came in at $9.01 billion for the month, the commerce ministry said, up only 1.9 percent year-on-year but a significant improvement on August's $7.20 billion, the lowest since July 2010.China has been actively acquiring foreign assets, particularly ...
US producer prices fall first time in a year WASHINGTON: US producer prices fell in September for the first time since August 2013, pulled lower by falling energy and food prices, the Labor Department said Wednesday.The producer price index dipped 0.1 percent in September, after a flat reading in August and a 0.1 percent gain in July.Analysts had expected the PPI to rise by 0.1 percent amid tepid price changes on goods and services in the so-called "pipeline" -- before they reach consumers.Year-over-year, producer ...

 



 
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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 23, 2014
Reserves $13.465 bln