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Category Archives: Economies

European Industrial Production Plummets

13-Jun-09

European Industrial Production plummeted 21.6% in April (year over year), its biggest decline on record, as the global downturn wiped out demand for the region’s goods. Month-on-month, production fell 1.9%, far exceeding economists’ projection for 0.4% decline. The report contrasts news from other economies, such as China, where industry output rebounded to 8.9% in April. [...]

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Russia’s Economy Shrinks

12-Jun-09

Russia’s Economy shrank the most in 15 years in the first quarter of 2009 as the world’s largest energy supplier approaches its first recession in a decade. The Government’s recent efforts to stimulate the economy have failed with industrial production and consumption spending posting record declines. As a result, GDP shrank an annual 9.*%, a [...]

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IMF Optimistic About 2010 Global Growth

12-Jun-09

The International Monetary Fund (IMF) has become more optimistic about 2010 global growth. The organization revised its worldwide growth forecast for 2010 to 2.4% from the 1.9% predicted in April, citing stimulus measures taken over the past few months. It expects an improvement for the U.S. for the year versus its previous prediction of zero [...]

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