The U.S. shoppers spent less than expected last month, holding off on spending at restaurants and stores, as increased gas prices weighed on their pockets, the Commerce Department said Monday.
Greece government agreed with its Eurozone and International Monetary Fund backers to sell two nation's banks- Postbank and Proton Bank by July 15, as a part of the deal to secure more funds from the 240-billion euro rescue package, which keeps Greece afloat.
A positive data from Australian housing market was published on Friday, a sign that record-low borrowing costs are working to stimulate the property market.
A slump in Britain's construction sector has ended, positively influencing weak output figures for the country.
Mood among consumers in the world's largest economy cooled unexpectedly in July, as Americans became more pessimistic about the outlook for the economy.
The industrial production in the 17-nation bloc that has the Euro in circulation, shrank more than expected in May, indicating the longest post-war economic contraction and suggesting the economy will register the seventh consecutive quarter of shrinking GDP.
A bunch of important economic events from Europe came during the last week, including another tranche for Greece, joining of one more European country to the Eurozone, while the credit rating of Europe's third largest economy was revised down.
Japan's industrial production rose as much as 1.9% in May from the previous month, compared to the 2% growth estimated initially, the final data from the Ministry of Economy, Trade and Industry revealed Friday.
Clouds are massing on Australian economy as data showed unemployment rate soared to the highest in almost 4 years, underscoring the challenge for the newly-appointed Prime Minister Kevin Rudd, as his re-election pitch was centred on economic management.
Even despite solid gains in house prices, they are not expected to return to their pre-crash peak until 2021, as the inflation remains stubbornly high, accountants PricewaterhouseCoopers has warned.
The number of Americans filing for the unemployment benefits surprisingly rose more than analysts expected, reaching a two-month high, even despite usual swings in jobless application in July.
The European Central Bank assured market participants in its readiness to act and pledged to raise interest rates if needed to curb inflation.
The Bank of Japan kept its monetary policy unchanged and revised up its economic assessment, saying that the economic recovery is underway, due to the positive effect of a weakening Yen and its aggressive monetary stimulus on activity.
Consumer prices in the Europe's powerhouse, Germany, climbed further in June, hitting the highest since December 2012, the Federal Statistical Office said on Wednesday.
A gauge of confidence among Australian consumers held steady this month, as people are now more optimistic on the economic outlook, even despite fears about their personal finances.
The International Monetary Fund has revised up its growth forecast for the U.K., even in the face of sharp cuts to the rest of the world.
Federal Reserve Chairman Ben Bernanke said Wednesday the central bank will likely maintain accommodation for the foreseeable future, even as about half of 19 policy makers insisted on halting $85 billion bond purchases by the year end, while others wanted to see a stable improvement in the labour market before any policy retreat.
Sales at Swiss retailers fell sharply in May, indicating uncertainty among consumers and suggesting they are now less confident about economic future and are showing unwillingness to increase spending, the Federal Statistics Office said Tuesday.
Japan's tertiary industry activity index rose more-than-expected in May, advancing a seasonally adjusted 1.2% to 100.8 compared to a month earlier, the Ministry of Economy, Trade and Industry announced Wednesday.
Britain's manufacturing production unexpectedly shrank in May, due to a drop in output of pharmaceuticals and metals, raising doubts about the health of recovery and its sustainability to gain pace in the upcoming months.
The number of opened positions waiting to be filled rose more than initially was expected in May, as companies are now more optimistic about the demand, since the effects of sequester will wane.
European finance ministers have approved Latvian accession in the Eurozone on Tuesday, suggesting it will become the 18th member on January 2014.
The unemployment rate in Switzerland remained unchanged last month, holding at the highest level since 2010, raising concerns that the economy is facing major challenges from the neighbouring Eurozone, which is currently in its longest recession since the creation of the single currency.
The world's third largest economy logged the a current account surplus for a fourth month in a row in May, as the depreciation in Yen caused a sharp gain in import costs, offsetting positive movements in exports, supporting Prime Minister Shinzo Abe's stimulus measures.