EU reduces euro area growth expectations

Note: This section contains information in English only.
Source: Bloomberg

European Commission lowered its euro zone growth prediction for year 2012 at around 50% of previous expectations. If earlier European Commission predicted 1.6% growth this year and 1.8% next year, then current forecasts claim growth to be around 1.5% in 2011 and 0.5% next year.  Olli Rehn, EU commissioner of EU economic and monetary affairs warned that Europe is exposed to risk of new recession.

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Thu, 10 Nov 2011 13:10:56 GMT

Housing prices drop in most of American cities

In 3rd quarter home prices declined in about 75% of US cities as hampering economy discourage customers. According to report of National Association of Realtors, median price for family house sunk in 111 out of 115 metropolitan areas. Biggest drops were observed in Alabama, Pennsylvania and Phoenix where prices lost 18%. Conference Board survey claims Americans become more sceptic towards property purchases amid economic slowdown.

Thu, 10 Nov 2011 14:10:00 GMT

Asian stocks plummet on Italian yields

Asia stock markets descended on Thursday as Italian borrowing rates skyrocketed, rising concerns about the euro area debt crisis. Japan's Nikkei Stock Average lost 2.8%, South Korea's Kospi plunged 3.9% and Hong Kong's Hang Seng Index dropped 4.5%. China's Shanghai Composite gave up 1.1% and Australia's S&P/ASX 200 index fell 2.8%.

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