Indonesia’s economy gains 6.5%

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

Indonesian GDP added 6.54% throughout July to September. The country experiences growth for a 4th quarter indicating economy recovery. National consumption together with exports and investment are the main contributors to Indonesia growth. According to Dariusz Kowalczyk, Credit Agricole CIB strategist, the growth proves country's strength against external global weakness. Nevertheless, Bank Indonesia said, it is not planning to decrease borrowing rates.

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Tue, 08 Nov 2011 09:30:30 GMT

US banks reluctant to ease lending standards

According to survey done by Federal Reserve, the number of banks that lessened business loan conditions has decreased in the 3rd quarter. Creditors have also squeezed loan terms on debt to European financial institutions and their partners. About 50% of US banks admit they have provided loans to European contemporaries and consider tightening as reasonable strategy amid EU debt crisis. 

Tue, 08 Nov 2011 09:30:03 GMT

UK retail sales drop in October

UK retail business faced a decline in October rising traders concerns about approaching Christmas sales. According to British Retail Consortium (BRC), trading at shops opened in last 12 months has decreased by 0.6 % compared to previous year. Significant drop in sales was detected also in furniture and food industries. Stephen Robertson, BRC general director claimed a fall in sales to indicate weak consumer confidence.

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