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Brazil reports record trade gap for February as export prices drop BRASILIA: Brazil posted its biggest trade deficit ever for the month of February as prices of key exports continued to drop, government data showed on Monday.Brazil recorded a trade deficit of $2.842 billion in February, wider than the gap of $2.2 billion expected by nine analysts surveyed by Reuters. It is the biggest deficit for that month in a historical series that began in 1980.A plunge in the price of key exports such as iron ore and soy pushed Brazil's trade balance into the red last year for the first time in 14 years.Exports of soybeans and iron ore fell 72 percent and 36 percent respectively in February from a year earlier.Trade Minister Armando Monteiro has said Brazil will focus on bolstering exports to the United States, until recently the country's main trade partner.Monteiro's task will be a challenging one as the government of President Dilma Rousseff slashes export promotion ...

US consumer spending, incomes rise; inflation slumps WASHINGTON: US consumer spending and incomes rose in January as a decline in consumer prices picked up speed, Commerce Department data released Monday showed.Consumer spending, which drives about 70 percent of the economy's activity, rose 0.3 percent in January, rebounding from a slight 0.1 percent dip in December, according to data adjusted for price changes. Without the price adjustments, spending fell 0.2 percent.Personal income rose 0.3 percent for the second month in a row. However ...
US manufacturing slows again in February: ISM WASHINGTON: The US manufacturing sector saw activity slow for the fourth consecutive month in February, in part due to the West Coast port slowdown, the Institute for Supply Management said Monday.The ISM manufacturing purchasing managers index dropped to 52.9 in February, still above the 50 level that signifies growth but slower than January's reading of 53.5."Comments from the panel express a growing level of concern over the West Coast dock slowdown, negatively impacting exports and ...
Greece outlines first anti-poverty measures ATHENS: Greece's leftist government on Monday outlined a first batch of measures to combat poverty to be approved by parliament in coming days.According to a government document seen by AFP, the measures include free electricity, rent support and food stamps.The plans come after Greece reached a hard-fought deal with European leaders on a four-month extension of its debt bailout.Greece is under obligation to its international creditors to refrain from adopting measures that could push the ...
Canada current account gap widens in quarter on cheap oil OTTAWA: Canada's current account deteriorated faster than expected in the fourth quarter to C$13.92 billion ($11.14 billion) from C$9.60 billion in the third, mostly due to lower crude oil prices, Statistics Canada data showed on Monday. It was the biggest current account deficit in a year and exceeded the C$12.50 billion forecast after a relatively strong third quarter, which saw a third straight surplus in the trade in goods. But that goods balance moved back ...
Canada Feb manufacturing activity lowest on record as oil stings OTTAWA: Activity in Canada's manufacturing sector contracted last month to its lowest level on record as business confidence was hit by sharply cheaper oil prices, data showed on Monday. The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, fell to a seasonally adjusted 48.7 in February from 51.0 in January. It was the lowest level since the survey began in 2010 and only the second time it has fallen below ...
China's economy to grow 7pc in Q1: think tank ISLAMABAD: The Chinese economy is expected to grow by 7 percent in the first quarter of 2015, according to an estimate released by State Information Center, a government think tank, on Monday.A steady slowdown is expected for the Chinese economy, with investment growth in the property and manufacturing sectors continuing to slow.The first quarter is likely to see investment in fixed assets grow around 14.3 percent and real estate around 7 percent, according to the ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
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