Euro-area industrial orders drop

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/NewYorkTimes

Industrial orders for European region declined to a 3-year record low, led by France and Germany, indicating debt turmoil is negatively contributing to region's growth. According to EU statistics office, orders in Eurozone region decreased by 6.4% compared to August this year when they added 1.4%. Economists surveyed by Bloomberg had forecast a drop of 2.7%.

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Wed, 23 Nov 2011 13:13:45 GMT

Euro weakens on forthcoming economic reports

On Wednesday morning trade Euro moved towards six-week record low as economic reports indicated Europe's fiasco to tackle debt crisis harms Eurozone's economic growth. 17-nation currency lost 0.4% against US dollar in London morning trade session and reached $1.3451. Ankita Dudani RBS's strategist claims whole euro area is imprisoned by surging costs of borrowing and absence of growth. Currently EUR/USD is trading at $1.3379.

Wed, 23 Nov 2011 13:14:01 GMT

UK is not fully resistant to EU debt turmoil

George Osborne, The British Chancellor next week will submit an autumn report on the outlook of the UK economy. So far the UK managed to escape negative effects of Eurozone debt crisis. However, according to Osborne such situation will not last forever. Growth is smooth, unemployment is surging and exports are fluctuating. Moreover, budget deficit totals 10% of GDP. Osborne predicts that in nearest future

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