Economic News, US Economy News, Global Economic News

ECONOMIC NEWS

U.S. Industrial Production Rises 1.1% Amid Jump In Utilities Output

May 16, 2012-09:42 AM ET

With utilities output showing a substantial increase in the month of April, the Federal Reserve released a report Wednesday morning showing a much bigger than expected increase in overall industrial production for the month. The Fed said industrial production increased by 1.1 percent in April, far exceeding economist estimates for an increase of about 0.5 percent. At the same time, the report said production fell by 0.6 percent in March after rising by 0.4 percent in February. Read more...

German 10-year Bund Yield Falls On Safe-haven Demand

May 16, 2012-07:50 AM ET

Germany's ten-year borrowing costs declined at an auction on Wednesday as investors demanded more safe-haven debt. The country sold EUR 4.107 billion of its 1.75 percent July 2022 bond against the EUR 5 billion target set for the sale, Bundesbank said. The bids totaled EUR 6.128 billion. The amount... Read more...

Indonesia's GDP Growth Likely To Accelerate In 2013: FinMin

May 16, 2012-01:26 AM ET

Indonesia's economic growth is set to accelerate to 6.8 percent to 7.2 percent range next year, despite global uncertainties, reports said citing a document of a speech of Finance Minister Agus Martowardojo. Read more...

US / CANADA

U.S. Industrial Production Jumps More Than Expected In April

May 16, 2012-09:27 AM ET

U.S. Housing Starts Rise 2.6% But Building Permits Fall 7%

May 16, 2012-09:18 AM ET

Housing starts in the U.S. came in well above estimates in the month of April, according to a report released by the Commerce Department on Wednesday, although the report also showed a sharp drop in building permits. The report showed that housing starts rose 2.6 percent to an annual rate of 717,000 in April from the revised March estimate of 699,000. Economists had expected housing starts to increase to 690,000 from the 654,000 originally reported for the previous month. Read more...

U.S. Housing Starts Exceed Economist Estimates In April

May 16, 2012-08:38 AM ET

EUROPE

Poland March Current Account Deficit Narrows

May 16, 2012-09:03 AM ET

Poland's current account deficit decreased significantly from the previous month in March, data released by the National Bank of Poland showed Wednesday. The current account deficit fell to EUR228 million in March from EUR1.516 billion in February. In March 2011, the balance was a deficit of EUR1.107... Read more...

Israel's Economic Growth Continues To Weaken

May 16, 2012-08:33 AM ET

Israel's economic growth eased for the fifth consecutive quarter in the first quarter, data release by the Central Bureau of Statistics showed Wednesday. Gross domestic product (GDP) increased a seasonally adjusted 3 percent quarter-over-quarter in the first quarter, after growing 3.2 percent in... Read more...

Bank Of England Cuts Growth Outlook; Sees Subdued Expansion

May 16, 2012-08:28 AM ET

The Bank of England said the U.K. growth is set to remain subdued with headwinds blowing from the Eurozone debt crisis, leaving room open for more stimulus. Moreover, inflation is judged to take more time to return to its target than estimated three months ago. In its quarterly Inflation Report released on Wednesday, the central bank said the prospects for U.K. growth remain unusually uncertain. Governor Mervyn King said the economy will continue to face headwinds during the forecast period. Read more...

ASIA

Australia Consumer Sentiment Unchanged In May

May 15, 2012-11:21 PM ET

Australia's consumer confidence remained almost unchanged in May as the Reserve Bank's surprise rate cut failed to offset the negative sentiment from the recent developments in Europe, a key survey revealed Wednesday. Read more...

South Korea Unemployment Rate Falls In April

May 15, 2012-10:11 PM ET

South Korea's unemployment rate declined slightly in April, data from Statistics Korea showed Wednesday. The unemployment rate fell to 3.5 percent in April from 3.7 percent in March and 4.2 percent in February. In April last year, the rate was 3.7 percent. The number of unemployed fell 4.4 percent... Read more...

Japan Core Machine Orders Fall 2.8% In March

May 15, 2012-09:48 PM ET

Core machine orders in Japan contracted a seasonally adjusted 2.8 percent on month in March to a value of 746.3 billion yen, the Cabinet Office said on Tuesday - falling for the first time in three months. The headline figure beat forecasts for a contraction of 3.5 percent following the downwardly... Read more...

GLOBAL ECONOMICS

Malta HICP Inflation Rises To 16-Month High

May 16, 2012-07:58 AM ET

Malta's EU harmonized inflation accentuated to the highest level in sixteen months in April, data released by the National Statistics Office showed Wednesday. The harmonized index of consumer prices (HICP) increased 3.8 percent year-on-year in April, markedly faster than the 2.6 percent rise recorded... Read more...

S. Africa March Retail Sales Growth Exceeds Forecast

May 16, 2012-07:17 AM ET

South Africa's retail sales increased more than economists expected in March, data released by Statistics South Africa showed Wednesday. Retail sales increased 6.8 percent year-on-year in March, faster than the 6.6 percent growth economists forecast. In February, retail trade increased 6.7 percent... Read more...

France Borrowing Costs Decline After Hollande Takes Charge

May 16, 2012-07:02 AM ET

France saw its borrowing costs fall on Wednesday in the first debt auction after President Francois Hollande's inauguration yesterday. The Agence France Tresor raised EUR 7.996 billion from the sale of 2, 3, 4 and five years debt, close to the EUR 8 billion maximum target set for the sale. The... Read more...

ANALYSTS COMMENTS

Italian Economy May Remain In Recession In Near Term: IHS Global Insight

May 16, 2012-04:15 AM ET

The Italian economy is unlikely to recover in the near term as economic performance is seen deteriorating further in the coming months, following a sharp contraction in the first quarter, IHS Global Insight... Read more...

India To Benefit From Weaker Rupee: Capital Economics

May 14, 2012-06:52 AM ET

The Reserve Bank of India's recent efforts to prop up the rupee are likely to fail, resulting in further depreciation of the currency this year as the euro-zone crisis deepens and risk aversion increases,... Read more...

UK Manufacturers To Be Under Pressure To Price Competitively: IHS Global Insight

May 11, 2012-09:45 AM ET

The persisting weakness in the British economy is likely to exert pressure on manufacturers to price competitively to sustain their businesses, IHS Global Insight chief European and UK economist Howard... Read more...

ECONOMIC CALENDAR

Time (et)

Economic Indicator

Period

Actual

Forecast

Country

Wednesday ,May.16