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Spain reports sharpest price drop in five years MADRID: Spain reported Tuesday the steepest slide in consumer prices in nearly five years, a potentially worrying development as the eurozone fends off the threat of a deflationary spiral.With Spaniards cautious about spending in an economy suffering a 24-percent unemployment rate, consumer prices dropped a sharper-than-expected 0.4 percent in the year to July, Spain's National Statistics Institute said.The fall in prices in July was the sharpest since October 2009, the institute said, after revising its initial estimate of a 0.3-percent decline. In the previous month, Spain's economy, the fourth-largest in the eurozone, had reported an annual inflation rate of zero.Prices were kept down by the lower cost of entertainment, electricity, tobacco, food and soft drinks, the official statistician said.When compared to June, consumer prices slumped 1.5 percent, it said, using figures that are measured in the same way across the European Union.The Spanish inflation report is likely to be of ...

British official unemployment rate drops to 6.4pc LONDON: Britain's unemployment rate fell to 6.4 percent in the quarter to the end of June, hitting the lowest level for more than five years, official data showed on Wednesday.The rate for the April-June period compares with 6.5 percent for the three months to the end of May, the Office for National Statistics (ONS) said in a statement.At 6.4 percent, the rate was at its lowest level since late 2008.The ONS added that the number ...
French prices plunge in July, sparking deflation fears PARIS: French prices dropped sharply in July compared to the previous month, official data published on Wednesday showed, adding to fears of deflation in France and the wider eurozone.Prices fell by 0.3 percent month-on-month in July, the INSEE national statistics office said in a statement.On a year-on-year basis, prices rose by 0.5 percent, the same as the previous month.INSEE said the dip in prices could be partly put down to summer sales.Earlier this month, French ...
China industrial output up 9.0pc on-year in July: govt BEIJING: China's industrial production, which measures output at factories, workshops and mines in the world's second-largest economy, rose 9.0 percent year-on-year in July, the government announced Wednesday.Retail sales, a key indicator of consumer spending, increased 12.2 percent in the same month, the National Bureau of Statistics said, while fixed asset investment, a measure of government spending on infrastructure, rose 17.0 percent on-year in the first seven months.The results came after China's economy grew a stronger-than-expected ...
German inflation drops to lowest level in four years FRANKFURT: Inflation in Germany, Europe's biggest economy, fell in July to its lowest level in over four years, official data showed on Wednesday.Confirming a flash estimate released at the end of last month, the federal statistics office Destatis calculated that German inflation this month dropped to 0.8 percent year-on-year, its lowest level since February 2010, after rebounding to 1.0 percent in June.Inflation has been unusually low across the 18-nation eurozone, fuelling concern the region could ...
South Korea unemployment inches down in July SEOUL: South Korea's unemployment rate edged down in July from a month earlier as new jobs were created across a range of sectors, government data said Wednesday.The seasonally adjusted jobless rate fell to 3.4 percent from the previous month's 3.6 percent, Statistics Korea said.The number of newly created jobs showed an on-year rise of 505,000, compared to 398,000 in June and well above the monthly average for 2013."The number of new jobs is on the ...
Japan's economy shrinks after sales tax hike TOKYO: Japan's economy contracted 1.7 percent in the three months to June as household and corporate spending slumped after Tokyo raised sales taxes, government data showed Wednesday.The quarterly gross domestic product figures were the first since the levy rise, and underscore the challenges that Tokyo faces in pressing on with a bid to kickstart an economy long plagued by deflation and laggard growth.They also raise questions about whether the government will usher in another tax ...


Index Closing Chg%
Arrow DJIA 16,919.59 0.48
Arrow Nasdaq 4,527.52 0.43
Arrow S&P 1,981.60 0.50
Arrow FTSE 6,779.31 0.56
Arrow DAX 9,334.28 0.96
Arrow CAC-40 4,254.45 0.56
Arrow Nikkei 15,449.79 0.83
Arrow H.Seng 25,122.95 0.67
Arrow Sensex 26,420.67 0.11

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln