France aims to trim budget deficit to 3% of GDP in 2013

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Source: RTTNews
French President Francois Hollande announced his first budget which cut spending and increased tax on the rich to 75%. The government plans to trim its budget shortfall to 3% of GDP in 2013 from 4.5% this year. GDP is estimated to add 0.8%. The spending cut is expected to save 10 billion Euro. Meanwhile, Agence France Tresor reported a reduction of bond auctions to 170 billion Euro in 2013 from 178 billion in 2012.
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Fri, 28 Sep 2012 15:13:58 GMT

U.S. consumer spending stagnates in line with expectations

Commerce Department reported on Friday that spending of U.S. consumers rose just a bit in August, which showed that the U.S. economy still struggled to recover. Purchases of households increased by 0.5%, in line with analysts' expectations. However, after adjustment for a 0.4% increase in prices, the data shows that real spending added only 0.1%.

Fri, 28 Sep 2012 15:38:31 GMT

Gold seen raising two-year high quarterly gain

Gold advanced in London, extending the largest quarterly gain since June 2010 amid belief central banks' stimulus will boost investor demand. On Friday, immediate-delivery gold surged 0.2% to $1,780.810 per ounce in London, prices increased 11% from the end of June. Bullion at the morning "fixing" rose to $1.781 from $1.763 yesterday. Futures for December delivery added 0.1% to $1,783.10

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