Slow recovery seen for state Nov 21, 2009
UHERO forecast the U.S. gross domestic product will fall by 2 ... It projected Japan's gross domestic product will shrink 5. (Honolulu Advertiser)
Food: If words were food, nobody would go hungry Nov 21, 2009
2% of GDP. But there is no doubting the impact so far: the programme has turned Malawi into a breadbasket: in 2005, the country imported over 40% of its food; this year, it will export more than half its output, including to famine-stricken Kenya, having trebled the maize harvest in four years. Brazil also subsidised inputs, launching a programme that provided credit for 14,000 tractors in its first year. (The Economist)
Malaysia issues China's ICBC local banking licence Nov 21, 2009
" onclick="Next();" src="/images/butt_next. (and) is therefore part of a very limited number of banking licences that Malaysia may issue from time to time under a bilateral arrangement. (Channelnewsasia.com)
Rugby boost for SA economy Nov 21, 2009
The public interest in the ten-match series, and the impact of the arrival of 37,000 visitors from Britain and Ireland, generated R1,47-billion in direct and indirect value to the travel and tourism gross domestic product (GDP) of South Africa. The six-week tour produced close to a tenth (8. (Business Report, South Africa)
Geared for progress Nov 21, 2009
To make up for lost ground and realise Vision 2020, the Government has set the target of achieving an average gross domestic product (GDP) growth rate of 5. 4% per year for the next 10 years. (The Star Online, Malaysia -- Business)
Driving private investments Nov 21, 2009
The component has made a positive impact on the economy in terms of contribution to gross domestic product (GDP) growth, trade and balance of payments, capital formation, employment, and productivity and efficiency of the system. There have also been spill-over effects in the form of technology transfer; establishment of new domestic companies; expansion of supporting industries, including the development of services sector; as well as joint-venture projects between local companies and private... (The Star Online, Malaysia -- Business)
Japan's Latest Economic Ailment: Deflation Nov 21, 2009
Third quarter GDP growth came in at an annualized rate of 4 ... But Jesper Koll, president and CEO of Tantallon Research Japan, argues that when falling prices are factored in, the country's nascent recovery is weaker than recent positive GDP growth numbers suggest ... But he says additional government spending is constrained by the country's already high debt load, which is approaching 200% of GDP. "Even if the DPJ (the Democratic Party of Japan, the country's ruling party) decided that their... (Time.com)
Industrial Mittelstand Companies Face Credit-Crunch Threat, Schaeuble Says Nov 21, 2009
35 percent of gross domestic product by 2016, Schaeuble said, meaning a reduction in the structural deficit in the federal budget by 10 billion euros every year. That process of reducing debt is undisputed in the government, he said. (Bloomberg -- Germany)
Public-sector finances: The state's take Nov 21, 2009
The state looms largest in France, where almost 50% of GDP flowed through the government s coffers in 2007 (the most recent year for which statistics comparable across all countries exist). In China, in contrast, government revenue accounts for less than 20% of GDP. Broadly speaking, total government revenues (including both central and local) are a bigger share of the economy in continental Europe than in Anglo-Saxon economies, and are higher in richer economies than in poorer ones without... (The Economist)
2010 Budget lacks sense of urgency - CPP Nov 21, 2009
5 per cent of GDP to 9 ... He noted that the budget had no sense of direction and had little about growth, adding that given the prospects of missing the 2009 GDP growth target of 5 ... 5 per cent GDP growth target for 2010 would be achieved. (Ghana Web, Ghana)
US Fed officials step up asset bubble-watch Nov 21, 2009
Banks are still clamping down on credit to consumers and businesses, even though gross domestic product expanded at a 3. 5 per cent annual pace in the third quarter after a yearlong contraction. (Sydney Morning Herald -- Business)
Government to promote ICT nation-wide - Minister Nov 21, 2009
21 per cent increase in the per capita Gross Domestic Product (GDP) growth in developed countries, developing countries recorded 1. 38 per cent increase. (Ghana Web, Ghana)
Malaysian Economy Shrinks Less Than Estimated as Asia Recovery Strengthens Nov 21, 2009
Malaysia increased this years GDP forecast last month, joining Asian neighbors in saying the slump wont be as bad as initially expected ... 6 percent of GDP from a 22-year high of 7. (Bloomberg -- Asia)
GOP Challenges Job Stimulus Data Nov 21, 2009
Chris Van Hollen, Maryland Democrat, cited GDP growth and declining monthly job losses as proof of its success. "Characterizing a real job and the ability to take care of your family as 'propaganda' is a disservice to the American people," said Mr. Van Hollen, an assistant to House Speaker Nancy Pelosi. (Newsmax)
U.K. Shares Decline for Fourth Day on Concern Economy to Falter; Tui Drops Nov 21, 2009
Equity markets are now fully pricing in the equivalent of a return to trend rates of real gross domestic product growth and more, while the reality is, of course very far from that. . (Bloomberg -- UK)
Can China's Backwaters Save the Global Economy? Nov 21, 2009
Local officials expect Xi'an's gross domestic product to surge 13. 5% in 2009, far faster than the central government's 8% target for the national economy. (Time.com)
* Number of Indian billionaires doubles Nov 21, 2009
00001 percent of Indias population now accounting for around a quarter of its US$1 trillion GDP, fierce debate about the polarization of the countrys society has begun. Mukesh Ambani, the chief of Reliance Industries, Indias biggest private company, remains its richest person with a net worth of about US$32 billion. (Taipei Times, Taiwan -- World)
U.K. Economy May Have Turned Corner, Pound to Spur Recovery, Gieve Says Nov 21, 2009
4 percent of gross domestic product in the year to March, the highest since World War II.. director general of the Confederation of British Industry, today called for ambitious reductions in the shortfall to keep interest rates low and said lower borrowing costs would have an impact on sterling. (Bloomberg -- UK)
Dutch govt to inject further US$4.5bil into ABN Amro Nov 21, 2009
5% of gross domestic product (GDP) and would require changes to the budget. The ministry said Statistics Netherlands, however, may estimate the infusion would raise the debt by as much as 0. (The Star Online, Malaysia -- Business)
Malaysia's Economic Slump Probably Eased Last Quarter on Exports, Stimulus Nov 20, 2009
Exports are likely to boost GDP in the coming quarters, supported by rapidly expanding emerging-market demand and a gradual recovery in the advanced economies ... Singapore, which raised its 2009 GDP estimate in October, said yesterday its economy will grow 3 percent to 5 percent in 2010 after shrinking as much as 2 ... GDP may expand as much as 3 percent in 2010, he said. (Bloomberg -- Asia)
Recession to end this year - OECD Nov 20, 2009
Real gross domestic product (GDP) growth would likely be negative for this year but South Africa would emerge from the recession in the fourth quarter as the global financial downturn eased, the Organisation for Economic Co-operation and Development (OECD) said yesterday. It raised its forecast for next year's growth from 2. (Business Report, South Africa)
What's Inside Pimco? Nov 20, 2009
Pimco Total Return Fund's () nearly $193 billion in total assets rival the gross domestic product of a small country of Chile, Singapore, or the Philippines, say. It is the largest mutual fund ever, dwarfing its closest competitor, American Funds' Growth Fund of America (), which has $145 billion. (BusinessWeek)
Turkcell Gains in Turkish Mobile Turmoil Nov 20, 2009
But something grim happened in the past 12 months: Hit hard by the global economic crisis including a record 14% decline in Turkish gross domestic product in the first quarter of 2009 the mobile-services business in Turkey shrank for the first time in history. All told, some 3 million accounts went out of service, pulling down mobile penetration from 92% of the population to 88. (BusinessWeek)
Top Eurobank prepares for 'global economic collapse'... Nov 20, 2009
Explosion of debt: Japan's public debt could reach as much as 270pc of GDP in the next two years ... Overall as a share of GDP (350pc in the US), whether public or private ... Even without fresh spending, public debt would explode within two years to 105pc of GDP in the UK, 125pc in the US and the eurozone, and 270pc in Japan. (The Drudge Report)
State jobless rate up again Nov 20, 2009
Job losses have continued this fall despite the expansion of the economy, as measured by the gross domestic product. And while the unemployment rate is the most widely watched measure of the labor market, it is also seen by economists as a rough guide at best. (Atlanta Journal-Constitution -- Business)
Moody's: Brazil's GDP to grow 4.5% in 2010 Nov 20, 2009
Moody's: Brazil's GDP to grow 4 ... Moody's: Brazil's GDP to grow 4. (Xinhuanet, China)
France to take Big Loan to boost economy Nov 20, 2009
"Twenty billion euros is not a huge sum of money - 1.2 or 1.3 percent of GDP," said Simon Tilford, chief economist at the Center for European Reform in London ... 5 percent of GDP next year, Budget Minister Eric Woerth forecasts ... 7 percent of GDP is far less than France's expected 8. (Sydney Morning Herald -- Business)
Dollar faces short-term gain, mid-term pain Nov 20, 2009
The reason we think thats not going to happen immediately is that Chinas economy is not as healthy as it might seem with the headline GDP (gross domestic product) numbers and the export sector is still very weak. . (Sydney Morning Herald -- Business)
EU economy out of recession, but recovery slow Nov 20, 2009
In its latest report released last week, the EU's statistics office Eurostat said its primary estimates indicate the gross domestic product (GDP) in the eurozone increased by 0. 4 percent while the GDP in 27 EU countries gained by 0. (Xinhuanet, China)
Reverse the Vote, Save Our Country Nov 20, 2009
How can we expect them to effectively and safely manage the nations healthcare which accounts for one-fifth of the national GDP.. If that lack of ability and accountability to manage data entry concerns you, consider this quote from an adamant supporter of government-run healthcare. (Townhall.com)
Editorial Roundup: Excerpts From Recent Editorials Nov 20, 2009
China's export-led growth helped the country quadruple its gross domestic product between 2000 and last year, and financed the record levels of US debt that now form one of Obama's many headaches. China holds nearly $900 billion worth of US government bonds, and worries that Obama's spending to boost the US economy even on his health care plan may cause nervous markets to dump the dollar and reduce their investments' value. (San Francisco Chronicle -- Crime)
Copenhagen summit will be 'success': UN climate chief Nov 20, 2009
Developing nations have called for wealthy economies to cut their emissions by at least 40 percent by 2020 compared with 1990 levels, and to provide around one percent of their gross domestic product (GDP) per year, or around 400 billion dollars, in finance. So far, no rich country has come anywhere close to meeting such a demand. (Yahoo! Asia News)
Bayh: How to tame U.S. debt monster Nov 20, 2009
Today, it is 60 percent of our gross domestic product. If we do nothing, our debt is projected to swell to over 70 percent by 2019. (CNN)
Australia Should Increase Interest Rates as Growth Accelerates, OECD Says Nov 20, 2009
Gross domestic product expanded at an annualized rate of 2. 5 percent in the second quarter, the OECD estimates. (Bloomberg -- Australia & New Zealand)
Harper aide says Democratic policies hurtful to U.S. families Nov 20, 2009
Gardner also said Obama's budgeted increased spending for 2009 is $4 trillion, or 28 percent of the GDP. It is the highest federal spending, percentage-wise, the nation has seen since World War II.. "It's like they have our nation on the edge of precipice, and they're trying to figure out which of these bills they're throwing at us will thump it over the edge and shatter it," Amos said. (Brookhaven Daily Leader, MS)
Emerging-Market Currency Measures Won't Reverse Gains, Brown Brothers Says Nov 20, 2009
With per capita incomes rising and GDP growth much stronger in emerging and frontier markets than in the developed markets, I think itd be very foolish for them to go down that road. . (Bloomberg -- Latin America)
Brazil `Buy' Ratings Sink to Record Low as Mobius Sees Commodity-Led Gains Nov 20, 2009
said yesterday that stocks in Brazil, Russia, India and China, the so-called BRIC nations, probably will rise 30 percent to 40 percent in three to four years as demand for their commodities and increased consumer spending in local markets help gross domestic product grow. Brazil is the second-largest producer of iron ore and soybeans and the biggest in coffee, orange juice and sugar. (Bloomberg -- Latin America)
HDFC expects rates to firm up by 25-50 bps Nov 20, 2009
In the last year alone, which was one of the toughest periods in economic history, the real estate industry in India managed to grow at over 16% YoY. As a contributor to GDP growth, current estimates place the real estate sector at 8. 86% of GDP. At the same time, over Rs 230 billion is being proposed to be raised across 8-10 real estate IPOs within the next 6-12 months. (India Times)
Japan's central bank Friday kept interest rate unchanged(update) Nov 20, 2009
Gross domestic product, or the total value of the nation's goods and services, has climbed for two straight quarters and recorded its fastest acceleration since a 5. 7 percent jump in the first quarter of 2007. (The Star Online, Malaysia -- Business)
Colo. 42nd in mortgage delinquencies Nov 20, 2009
Job losses continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks, not percentage point increases in GDP. Over the last year, we have seen the ranks of the unemployed increase by about 5. 5 million people, increasing the number of seriously delinquent loans by almost 2 million loans and increasing the rate of new foreclosures from 1. (Denver Business Journal, CO)
America's fiscal deficit: Stemming the tide Nov 20, 2009
On current policies the federal deficit, which hit a post-war high of 10% of GDP in the fiscal year that has just ended, will fall to 4 ... Early last year the Congressional Budget Office (CBO) thought federal debt held by the public, then about 40% of GDP, would fall to 28% in a decade s time ... Using the CBO s economic-growth and interest-rate assumptions, and assuming that Mr Obama s last budget is implemented (for example, that his payroll-tax credit is made permanent and that George Bush s... (The Economist)
Medvedev urges change to economy Nov 20, 2009
5% in gross domestic product for calendar year 2009, and 4% for 2010. A consensus is forming that the rise of the rouble is inexorable into next year, due to the continuing strength of the advance of commodity prices, which may overpower attempts by policy-makers to moderate the currency, particularly also given the capital inflows into the country. (Asia Times Online)
Tax offers Pakistanescape from poverty Nov 20, 2009
The percentage of taxes on GDP [gross domestic product] is among the lowest in the world ... 5 billion rupees), which came to 5% of Pakistan's gross domestic product (GDP) of $160 billion ... As a result, the tax-GDP ratio under these governments, which Clinton lamented, hovered around 10. (Asia Times Online)
'US, EU job mkts to remain weak until '11' Nov 20, 2009
Chinese annual GDP growth is projected to exceed 8 per cent in 2009 and 10 per cent next year, before easing slightly in 2011 as the impact of the fiscal stimulus ends. The US economy is forecast to continue to expand gradually, reaching GDP growth of 2. (India Times)
Everyone a winner with an arts lottery Nov 20, 2009
On a comparative basis, this investment in a sector that generates more than 3 per cent of gross domestic product is clearly inadequate. The chance to engineer the controversial resale royalty scheme into an engine that could generate permanent funding for the arts has been lost. (Sydney Morning Herald -- Opinion)
Gas offers chance for PNG poverty Nov 20, 2009
Unless they change their entire social and economic system to run like ours, economic growth - (what-increasing the country's GDP. - puh-lease. (Sydney Morning Herald -- Opinion)
Rahm Emanuel: Obama Will Cut Deficit Nov 20, 2009
4 trillion in the year ended Sept. 30, or about 10 percent of GDP. ... Even by 2019, the deficit will still total as much as 4 percent of GDP, according to the Office of Management and Budget (OMB). (Newsmax)
Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble Nov 20, 2009
Banks are still clamping down on credit to consumers and businesses, even though gross domestic product expanded at a 3. 5 percent annual pace in the third quarter after a yearlong contraction. (Bloomberg -- US)
Rise in public sector borrowing Nov 20, 2009
The ONS said public sector net debt as a percentage of gross domestic product (GDP) totalled 59. 2% in October, also the highest since records began. (BBC News -- Business)
Switzerland and the EUDefence Nov 20, 2009
41 per cent of gross domestic product (GDP). This is still short of the UN target of 0. (SwissInfo.org, Switzerland)
Read today's letters to the editor Nov 20, 2009
The United States continues to produce almost 40 percent of the worlds GDP. I dont recall any other nation that has developed as advanced technology as the United States. Why do foreign nationals continue to want to live here. (The News-Press -- Opinion)
Green-building Growing, More Jobs, More Buyer Interest Nov 20, 2009
Currently, 2 million American jobs are supported by the same industry and more than $100 billion in gross domestic product and wages is generated. The USGBC writes on its Web site that "buildings in the United States are responsible for 39 percent of CO2 emissions, 40 percent of energy consumption, 13 percent water consumption and 15 percent of Gross Domestic Product per year, making green building a source of significant economic and environmental opportunity." The study found that from 2000 to... (RealtyTimes)
Canada Wholesale Sales Increase Less Than Forecast as Auto Sales Decline Nov 20, 2009
The silver lining is that it will add to third-quarter gross domestic product. The central bank predicted last month that the economy will grow 2 percent in the third quarter. (Bloomberg -- Canada)
* Standard forecasts a U-shaped recovery Nov 20, 2009
Standard Chartered economist Tony Phoo (]) forecast that Taiwans GDP would dip 5 percent this year from a year ago before rising 3 percent next year on the back of a slow recovery in exports. The banks projection for next year is lower than 3. (Taipei Times, Taiwan -- World)
* Singapore declares recession is over Nov 20, 2009
BUMPY: While predicting GDP growth of between 3 percent and 5 percent next year, the government said it would hinge on global developments, especially in the US AFP , SINGAPORE Friday, Nov 20, 2009, Page 10 ... Data from the Ministry of Trade and Industry showed GDP rose 14 ... Year-on-year, Singapores GDP grew 0. (Taipei Times, Taiwan -- World)
South Africa: OECD Predicts Economy to Grow 2,7 Percent Next Year Nov 20, 2009
It predicts the shortfall will subside from 7,3% of gross domestic product (GDP) this year to 5,3% next year and 3,5% in 2011. This compares with official forecasts of 7,6% of GDP this year, 6,2% next year and 5% in 2011. (allAfrica.com)
China Banks Filling Syndicated Loan Void as Royal Bank, Citigroup Retreat Nov 20, 2009
The median projection of economists surveyed by Bloomberg News is for gross domestic product to increase more than 10 percent in the final three months of 2009. Chinese households savings as a percentage of income rose to 37. (Bloomberg)
Press Release: Statement by an IMF Mission to Mali Nov 20, 2009
5 percent of GDP. The government of Mali is also making good progress in reducing its payment float and domestic arrears, including through credits from the regional central bank that are equivalent in amount to the recent General Allocation of Special Drawing Rights (SDR) by the Fund ... 6 percent of GDP, which reflects a 12-percent increase in domestically-financed poverty-reducing health and education spending, and 0 ... 5 percent of GDP in capital spending financed by the privatization... (IMF News)
Sub-Saharan Africa: Challenges for 2010, Remarks by Ms. Antoinette Sayeh, Director, African Department of the International Monetary Fund Nov 20, 2009
On average, fiscal deficits are widening by 2 percent of GDP.. Case for continuing support from the international community. (IMF News)
They were wrong about Medicare, too Nov 20, 2009
of GDP & twice the nation s entire net worth of $51 T. The budget deficit will add trillions more over the next few years. (Atlanta Journal-Constitution -- Opinion)
Florida leads U.S. in foreclosures Nov 20, 2009
"Job losses continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks, not percentage-point increases in GDP.". Florida's jobless rate rose to 11 percent in September from 10. (The Palm Beach Post)
Danquah Institute on 2010 Budget Nov 20, 2009
In its preliminary comments on the 2010 budget read by the Minister of Finance last Wednesday, DI comments that "based on Government's own projection of a Gross Domestic Product figure of Gh21 billion, in dollar terms, Ghana's GDP would be 12.27% lower in 2009 than it was in 2008. Using the prevailing rate of 1$ to Gh1.45, this values the Ghanaian economy of 2009 at US$14.6 billion, about $1.8 billion lower than 2008, when the GDP was valued at US$16.4 billion.". According to the Executive... (Ghana Web, Ghana)
Gross Says China Has Own Bubble to Face as Exports Fail to Find Consumers Nov 20, 2009
The U.S. economy grew in the third quarter for the first time in more than a year as gross domestic product increased 3. 5 percent from July through September after shrinking the previous four quarters, a Commerce Department report showed on Oct. 29. (Bloomberg -- Asia)
Minority describes budget as "Enko Yie" Budget Nov 19, 2009
"The NPP left office with a GDP rate of 7.3 per cent only for the NDC government to reduce it to 4.7 per cent and I wonder if they can achieve their target of eight per cent next year.". Mr. Hackman Owusu Agyemang, NPP Member for New Juaben, described the budget as the extension of the manifesto of the NDC which could not give any meaning to the suffering masses in. (Ghana Web, Ghana)
Why Social Security Won't Last Fore... Nov 19, 2009
The massive Social Security program constitutes 37% of the governments expenditure and 7% of GDP, according to M. Feldstein's article Rethinking Social Insruance, which was published in the American Economic Review in 2005. The people who have paid into it the most, are the ones who are going to be left with nothing. (Suite101.com)
