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Economics Gazette

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October 19, 2017

Economics

Greek economy EUR

Greek economy performs worse than expected by creditors in 2016

The Greek economy has shrunk by 0.2% in 2016, according to revised statistics of the local agency Elstat. This means that the country was still in a recession and economic is worse than the creditors’ expectations. The European institutions predicted economic growth of 0.3% last year and the International Monetary Fund (IMF) even revised its

Japanese industrial production

Japanese industrial production grew less than expected in August 2017

Japanese industrial production grew less than expected in August 2017, according to data from the Ministry of Economy, Trade and Industry. The industrial production recorded a monthly growth of 2% in August compared to July, instead of the previously expected 2.1%. The indicator recorded a decrease of 0.8% in the previous month. In the eighth

US consumer prices dollars

US consumer prices rose by 0.5% in September 2017

The US consumer prices rose by 0.5% in September 2017, which is the biggest growth in 8 months. The result is a reflection of a new strong appreciation of energy as a consequence of Hurricane Harvey, which shut down refineries along the Gulf Coast and pushed gasoline prices up across the country. The Labor Ministry

Mario Draghi ECB

ECB believes in future wage and inflation growth

Wages and inflation in the Eurozone will rise in the future, but slower than initial expectations, which will require patience from central bankers, according to the European Central Bank (ECB) Governor Mario Draghi. The wage growth has failed to respond to incentives for a number of reasons, but the ECB remains confident that the main

Portugal

Portugal counts on strong growth and lower budget deficit in 2018

The Portuguese government has presented a draft budget for 2018, which should allow it to continue to reduce the government deficit simultaneously and to untie the pounds of households, mainly thanks to the temporary improvement in the economic environment. After lengthy talks with its allies from the radical left, the Socialist government completed the bill,

Wolfgang Schaeuble

Rhetoric against free trade threatens economic prosperity

German Finance Minister Wolfgang Schaeuble defended free trade in his farewell speech at the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB). The agency notes that this has happened amid a sharp turn in US trade policy in the opposite direction to protectionism since President Donald Trump took office in

Greece IMF review

IMF does not want additional savings for Greece

The International Monetary Fund (IMF) does not want additional savings for Greece. The institution has entered an explanatory regime after publishing a full report and its forecast of the country’s development. Economic growth for 2018 is corrected from 2.4% to 2.6%, but also expecting a primary budget surplus of 2.2% of gross domestic product (GDP).

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