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German institutes more optimistic on growth outlook BERLIN: Germany's leading economic think tanks on Thursday raised their growth forecast for Europe's top economy this year and next year, but warned of headwinds from new government policies. The four institutes predicted that the German economy would expand by 1.9 percent in 2014.That would mark a big increase from 0.4 percent in 2013, and then it would grow by 2.0 percent in 2015, they said."In spring 2014, the German economy is on an upturn. Domestic demand is the main growth engine," the institutes -- Ifo in Munich, DIW in Berlin, IW in Halle and RWI in Essen -- wrote in their spring report. The 2014 growth forecast is fractionally more optimistic than the institutes' previous prognosis of 1.8 percent from last autumn. The government is pencilling in growth of 1.8 percent for this year, while both the German central bank or Bundesbank and the International Monetary Fund are expecting ...

Romanian inflation edges down in March, below forecast BUCHAREST: Romania's inflation edged down to a fresh low of 1.0 percent on the year in March from February's 1.1 percent, remaining below the central bank's 1.5-3.5 percent target, the National Statistics Board said on Thursday. A median forecast of analysts polled by Reuters showed inflation at 1.2 percent in March. The Board said consumer prices were flat on the month. Food prices fell 0.1 percent and non-food and services prices were each 0.1 percent ...
Philippines' export growth at over 3-year high in Feb MANILA: Philippine exports rose at their fastest pace in more than three years in February, government data showed on Thursday, driven by robust shipments of electronics and a rising contribution from industrial manufacturing.Total exports in February jumped 24.4 percent from a year earlier, the biggest gain since December 2010, the statistics agency said. Electronics exports jumped 26.6 percent year-on-year, their fastest growth since October 2010.February also marked the third straight month in which exports from ...
NZ manufacturing activity rises in March WELLINGTON: Manufacturing activity in New Zealand improved for the first time in five months, hitting an eight-month high driven by broad-based expansion across the strongly growing economy, a survey showed on Thursday.The Bank of New Zealand-Business NZ's seasonally adjusted performance of manufacturing index (PMI) was 58.4 from an upwardly revised 56.5.A reading above 50 indicates an expansion in activity, and below a contraction.The index showed a solid rise in employment, but all other sub-indexes were ...
Americans, Germans clash on US-EU trade standards WASHINGTON: Americans and Germans are broadly supportive of a US-EU free-trade pact under negotiation, but differ over details, especially forging similar goods and services standards, according to a survey released on Wednesday.Common regulatory standards are perhaps the most ambitious objective of the bilateral talks that began last July to create the world's biggest free-trade zone.The so-called Transatlantic Trade and Investment Partnership (TTIP) would vastly expand the US-EU economic relationship, already the world's largest, through a ...
Brazil says won't halt pig imports after virus SAO PAULO: Brazil will not ban pig imports after the outbreak of a deadly virus in the United States but will intensify tests and quarantine requirements on live pigs arriving from abroad, the agriculture ministry said on Wednesday.The country's pork industry had asked the government to stop all imports from the United States to keep Brazil free of Porcine Epidemic Diarrhea virus, or PED.Pigs will be allowed to enter Brazil, but only with the ministry's ...
German trade surplus slips in February as exports fall BERLIN: Germany's powerful trade surplus shrank in February from the January level after exports fell amid an uncertain economic environment, but imports continued to grow, data showed on Wednesday.Europe's top economy posted a trade surplus of 15.7 billion euros in February ($21.6 billion), down nine percent from 17.3 billion in January, allowing for seasonal blips, official data showed.The dip was the result of slightly higher imports of 77.6 billion euros, against a 1.3-percent fall in ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln