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Economics Gazette

Economy and Business news

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October 19, 2017

GDP

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

IMF

IMF revised its assessment for the global economy

The International Monetary Fund (IMF) revised its assessment for the global economy. According to the experts of the fund the economic recovery globally accelerates and the picture is much different than last year, when the world economy was limited. The accelerating growth is seen in Europe, China, Japan and the United States, as well as

UK economy

UK economy grows at slowest annual pace since 2013

The UK economy grows at slowest annual pace since 2013 in the three months to end June, according to the latest revised data. The Gross Domestic Product (GDP) reported a 1.5% growth in the second quarter compared to the same period last year, reported the National Statistical Office. The previous estimate was for a growth

US economy

US economy grew faster than initial estimates in Q2 2017

The US economy grew faster than initial estimates in Q2 2017, marking its fastest pace over 2 years. The inertia, however, probably slowed in the third quarter after hurricanes Harvey and Irma temporarily hit the activity. The gross domestic product (GDP) has risen at an annual rate of 3.1% between April and June, the commerce

Economic recovery

OECD warned for weakness in global economic recovery

The world economy is likely to grow by 3.5% in 2017 and 3.7% in 2018, according to the OECD mid-term economic forecast. The global situation has gained momentum as the expansion of investment, employment and trade, which support synchronized growth in most OECD countries, according to the organization. However, strong and sustainable global growth is

Mark Carney

British economy likely will grow slower than G7 average

The British economy likely will grow slower than the other G7 countries by the middle of next year, mainly due to the uncertainty surrounding the Brexit, according to the governor of the Central Bank of England. In a speech at the International Monetary Fund (IMF) in Washington, Mark Carney said that Brexit is already leading

Chinese economy

Prime Minister Li Keqiang is optimistic for the Chinese economy

Chinese Prime Minister Li Keqiang is optimistic for the Chinese economy, expecting to keep its momentum and the leverage ratio to decline somewhat, while authorities are trying to reduce the financial risk. Reducing excess capacity overtakes expectations, and new engines behind growth are replacing the old at a faster rate, said Li Keqiang in Beijing

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