The EC expect economy to grow less than earlier forecasted; unemployment will decrease in 2015

Note: This section contains information in English only.
Source: WBP Online
© Scanpix/AP
The European Union's GDP is estimated to stay at current level in 2013 and may decline by 0.4% in Eurozone, according to EC autumn forecast. In 2014 the economic performance in E.U. is expected to grow by 1.4% and by 1.1% in Eurozone, while the figures forecasted for the year 2015 are a little bit more optimistic and will correspond to 1.9% and 1.7% growth, respectively. The unemployment rate will remain at 12.2% in this year and expected to stay unchanged until 2015.
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Tue, 05 Nov 2013 14:46:03 GMT

The U.S. Dollar sank after EC downgraded its forecasts

The ICE Dollar index dropped to 80.577 from Monday's figure of 80.606, while WSJ Dollar index declined to 72.81 from prior 72.89, after European Commission cut its GDP forecast for the year 2014 to 1.1% from previous expectation of 1.2% and increased the forecast for unemployment rate to 12.2% from 12.1%. The greenback traded at 0.7423 Euro.

Tue, 05 Nov 2013 13:55:04 GMT

U.K. services index grew at fastest pace since 1997

U.K. services activity index unexpectedly rocketed to 62.5, comparing to September's figure of 60.3, heading for fastest growth since May 1997, Markit Economics revealed today, while the construction and manufacturing indexes also advanced in previous month. The Britain's economic output will grow 1.3% this year and 2.2% in 2014, the E.U. Commission said today.

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