The U.K. economy is likely to lose its place among the world's top 10 largest economies, report by PriceWaterhouseCoopers showed on Thursday.
New applications for the unemployment benefits in the world's biggest economy dropped significantly during the last week, pointing to further improvement in the labour market.
The International Monetary Fund approved another tranche to Greece, saying nation's bailout programme is moving in the right direction.
U.S. shares accelerated on Thursday, with the S&P 500 reaching its highest intraday level in five years as optimism was brought to the market after a data showed decline in jobless benefits claims and a residential construction gain in December. The benchmark S&P 500 Index climbed 0.43% to 1,478.99, the Dow Jones industrial average added 0.46% to 13,572.72 and the
Manufacturing activity in the Philadelphia area decreased notably in the first month of 2013 as companies are becoming more concerned about the U.S. government spending abroad which could have a negative impact on economic growth. The Federal Reserve Bank of Philadelphia's general economic index fell from 4.6 in December to minus 5.8 in January, where reading below zero is used as a sign of
U.S. weekly fillings for unemployment benefits declined to its lowest level in five years as a sign of recovering domestic economy and labor market, the Labor Department reported on Thursday. Initial jobless claims for state benefits declined 37,000 and fell to a seasonally adjusted 335,000 the lowest figure since January 2008, and created the largest drop in a one-week period
Inflation of producer and import price in Switzerland declined in the last month of 2012, beat the expectation of economists though, when it fell to 1.0% in December from a November's 1.2%, the Federal Statistical Office reported on Thursday. On a monthly basis, the producer and import prices index recorded a modest gain of 0.1% following an unchanged November."Should the
Confidence among Japanese consumers dropped unexpectedly in December, adding to signs that people are getting more cautious about future economic performance of the world's third largest economy.
Retail sales in Switzerland rose in November, however, at a slower pace, indicating weak domestic demand and consumer spending, the country's Federal Statistical Office reported on Wednesday.
The U.K. construction sector and the economy itself are facing a prolonged recovery period, after the economy was hit by the global slowdown, cuts to public as well as private spending in all major sectors of the industry, the Construction Skills Network report said Wednesday.
Consumer prices for goods and services in the world's largest economy were flat in December, providing the Fed with more space to prop up the economy by staying on its ultra-easy monetary policy path.
Consumer prices among the Eurozone's 17 countries that have the Euro in circulation remained stable last month, despite a drop in energy prices across the region.
Consumer prices in the U.S. remained stable in line with economists predictions in the last month of 2012 as food prices and energy costs increased, the Labor Department reported on Wednesday. Seasonally adjusted consumer price index recorded 0.3% in December, while costs rose 1.7% in 2012 following a 3% gain the year before. The core index excluding food and energy costs
Annual consumer price index in the 17-nation bloc remained unchanged at 2.2 % in December meeting the economists estimates, while the monthly inflation recorded 0.4% in the same month, the statistical office of the European Union reported on Wednesday. Inflation in all 27 states of the European Union was 2.3% following a 2.4% figure the prior month, while the monthly
Retail sales in the world's largest economy rose more than initially was expected, as Americans were not worried about the threat of higher taxes anymore and increased their spending.
Japanese machine orders dropped in the last month of 2012, suggesting investors are getting more anxious over the future economic performance, the Japan Machine Tool Builders' Association said.
Swiss chalets are continuing to be popular among investors and are still attracting foreign buyers, however, a new law can break this tendency.
The inflation rate in the U.K. remained unchanged around its highest rate since May in December, as increases in gas and electricity bills pushed consumer prices above the Bank of England's target.
Europe's largest economy slowed down sharply in 2012, proving that it was hit by the Eurozone sovereign debt crisis and weak global growth, which damped exports and company investment.
U.S. retail sales grew in line with the economists estimates in the last month of 2012 as the season of holiday shopping offset the negative mood from the fiscal cliff discussion at the end of the year, the Commerce Department reported on Tuesday. The report showed a 0.2% gain in retail sales in December following a November's increase of 0.3%,
Inflation in the U.K. stayed unchanged at the level of 2.7% for the third successive month in December, above the 2% inflation target of the Bank of England from 2009, suggesting the BoE not to start another round of stimulus program. The biggest impact on the inflation had prices of utilities rising 3.9% on the year, whereas fuel costs declined 0.2%."It's a
German annual inflation grew less than projected in the last month of 2012 as the harmonized index of consumer prices accelerated by 2% compared to prior expectations of 2.1% increase, the Federal Statistical Office reported on Tuesday. Monthly change of the harmonized index of consumer prices was 0.9% compared to November, less than forecast of 1% climb."Despite the difficult environment,
The Japanese government is widely expected to increase income taxes that should add to the government's revenue, but is also likely to anger citizens opposed to the nation's austerity measures.
The amount of cash Swiss commercial banks held with nation's central bank rose slightly in the week to January 11, a sign that investors are getting less anxious over Eurozone's financial woes.