France to revise its growth forecasts

Source: The Wall Street Journal
The French government officials are revising growth forecasts for the next year. According to the Bank of France, the economy of France is predicted to shrink in the Q2 for the first time since 2009. Cooling growth would build up pressure on French President Francois Hollande to meet budget commitments. Mr. Hollande promised to reduce the budget deficit to 3% of GDP next year.  
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Wed, 13 Jun 2012 07:26:40 GMT

Japanese machinery orders rise

Japan's core machinery orders, leading indicator of capital spending, increased more than economists expected in April, rising 5.7 % amid the Yen's appreciation and Eurozone's turmoil. Compared with year earlier, core orders grew 6.6% in April. The figures showed that robust domestic demand will stimulate Japan's economic recovery.

Wed, 13 Jun 2012 07:37:41 GMT

Spanish yields hit 15-year record

Spanish borrowing costs for 10-years sovereign bonds reached a 15-year record high on Tuesday after Fitch Ratings forecast that country's PM Mariano Rajoy will fail to meet budget deficit goals that he set earlier. Yield for Spain's benchmark bond hit 6.83% yesterday, the highest level since 1997. Surging yields raise concerns that possible Spanish and Italian bailout would exhaust EU

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