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German retail sales unexpectedly fall in June BERLIN: German retail sales, a closely watched measure of household confidence, unexpectedly fell 2.3 percent in June, provisional official data showed Friday.Analysts polled by the financial services provider Factset had forecast the volatile indicator would stay unchanged for the month in Europe's biggest economy.A rise in retail sales in May was revised slightly down to 0.4 percent from 0.5 percent compared with April, the federal statistics office Destatis said in a statement.On a 12-month basis, business improved, with Germany retail sales rising 5.1 percent in June compared with the same month last year, the statisticians calculated.Copyright AFP (Agence France-Presse), 2015 ...

US economy revives in second quarter WASHINGTON: The US economy revived in the second quarter after a tepid start to the year, boosted by increased consumer spending and exports, official data released Thursday showed.Gross domestic product expanded at an annual rate of 2.3 percent in the April-June period, the Commerce Department reported, slightly below the 2.5 percent consensus estimate.The first quarter, marred by severe winter weather and West Coast port strikes, did not contract as previously estimated. The department said GDP ...
Japan factory output ticks up in June TOKYO: Japan's factory output turned positive in June, reversing a decline from the previous month, official data showed Thursday, but the world's number-three economy was still struggling to cement a recovery.The industry ministry said industrial production expanded a better-than-expected 0.8 percent, beating a median forecast for a rise of 0.3 percent in a survey of economists by Bloomberg News.It also reversed 2.1 percent decline in May.An industry ministry survey of manufacturers' output projections showed they ...
Ukraine economic picture 'incredibly encouraging' WASHINGTON: Ukraine's government is determined to undertake long-needed reforms, making the economic picture in the country very encouraging, International Monetary Fund Managing Director Christine Lagarde said Wednesday.After a horrible track record with the global crisis lender over the past two decades, Lagarde said the current government is taking the necessary steps on fiscal reform and fighting corruption to turn the country around."Ukraine has been an incredibly encouraging situation," she said in an online press conference.Despite ...
Philippine July inflation seen easing to 0.7pc MANILA: Philippine inflation likely eased for a fifth straight month to a record low in July, allowing the central bank to keep its accommodative policy to support economic growth, the chief economist of the Department of Finance said on Wednesday.Inflation likely cooled to 0.7 percent in July from a year earlier due to slower price increases for food and falling fuel and electricity costs, Finance Undersecretary Gil Beltran said in an email to reporters.His estimate ...
Lingering Greece jitters weigh on German consumer morale BERLIN: German consumers' outlook for Europe's biggest economy declined sharply in July due to fears the Greek crisis will rumble on in the coming months, a poll found on Wednesday."The long and difficult struggle to resolve the debt crisis in Greece has kept the country from default for now," market research company GfK said in a statement."However, this has not allowed German consumers' expectations to take flight but rather led the indicator to fall for ...
Brazil investment grade rating is at risk, S&P warns SAO PAULO: Standard & Poor's on Tuesday said Brazil could lose its coveted investment-grade rating in the coming year if fallout from a number of corruption investigations further stymies economic growth and the implementation of austerity measures. The warning, which sent Brazil's currency tumbling, is a setback to Finance Minister Joaquim Levy's efforts to win back investor confidence in Latin America's largest economy, now in a steep recession. S&P affirmed Brazil's credit rating of BBB-minus, ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln