U.K. GDP expands as expected by 0.3% in Q1

Source: RTT News
© Scanpix/RS
Economic performance of United Kingdom improved in the first three months of 2013 matching preliminary estimated figures, a report released by the Office for National Statistics unveiled on Thursday. According to the report, gross domestic product rose 0.3% on a sequential basis in the Q1 following a contraction of 0.3% recorded in the quarter before.

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Thu, 23 May 2013 13:43:04 GMT

EU changes its rhetoric on austerity as economy contracts

European leaders affirmed a $7.7 billion, 7 year plan to lower youth unemployment, which is at 24% in the euro zone. The 17-country bloc saw its GDP contracting for a sixth consecutive quarter, which lead European Commission to revise its 2013 forecast from -0.3% to -0.4%. However, Germany's budget expert told that easing pace of austerity is a dangerous path

Thu, 23 May 2013 08:58:04 GMT

Canada's Dollar drops as Bernanke signals less stimulus

Canadian currency declined on Thursday and was trade near its lowest level in a year versus the U.S. Dollar after the Federal Reserve Chairman Ben Bernanke signaled less stimulus measures if the economy keeps showing favourable results. The so-called Loonie slipped 1% to C$1.0367 per U.S. Dollar by 5 p.m. Toronto time and it touched C$1.0388, the least since June

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