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29/08/2001
IMF cuts economic growth forecast
The IMF has cut its forecast for world economic growth this year from 3.2 per cent to 2.8 per cent.
International news service, Reuters reported the news on Wednesday citing unnamed sources at the international lender for the prediction.
However, on Tuesday, Italian news agency ANSA reported that IMF's World Economic Outlook would predict a 3.6 per cent growth in the global economy next year.
But IMF sources said the figures were taken from a July draft that had already been revised lower, Reuters revealed.
Analysts expect revised US growth figures due on Wednesday to be lowered from 0.7 per cent to give an annualised growth rate of zero.
The WEO, which measures economies around the world, is constantly revised before the data is released. (MB)
International news service, Reuters reported the news on Wednesday citing unnamed sources at the international lender for the prediction.
However, on Tuesday, Italian news agency ANSA reported that IMF's World Economic Outlook would predict a 3.6 per cent growth in the global economy next year.
But IMF sources said the figures were taken from a July draft that had already been revised lower, Reuters revealed.
Analysts expect revised US growth figures due on Wednesday to be lowered from 0.7 per cent to give an annualised growth rate of zero.
The WEO, which measures economies around the world, is constantly revised before the data is released. (MB)
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03 August 2001
Eurozone holds steady on interest rates
THE European Central Bank (ECB) has held steady on interest rates following speculation that the eurozone may be able to avoid a recession in the manufacturing sector. The ECB announced its decision to maintain its interest rate at 4.
Eurozone holds steady on interest rates
THE European Central Bank (ECB) has held steady on interest rates following speculation that the eurozone may be able to avoid a recession in the manufacturing sector. The ECB announced its decision to maintain its interest rate at 4.
22 August 2001
Gap in fortunes between UK service and manufacturing sectors widens
The Office for National Statistics (ONS) has released figures which show a widening gap in fortunes between the UK's buoyant services firms and its recession-hit factories. ONS said that while service industries performed better in the spring than it had previously thought, producers had recorded a worse-than-expected decline.
Gap in fortunes between UK service and manufacturing sectors widens
The Office for National Statistics (ONS) has released figures which show a widening gap in fortunes between the UK's buoyant services firms and its recession-hit factories. ONS said that while service industries performed better in the spring than it had previously thought, producers had recorded a worse-than-expected decline.
02 January 2002
UK economic growth expected to slow in 2002
The UK’s economic growth is expected to slow to about 1.5 per cent during 2002. The latest figures from research group Cambridge Econometrics has predicted a further decline in manufacturing, led by a sharp fall in output in ICT industries.
UK economic growth expected to slow in 2002
The UK’s economic growth is expected to slow to about 1.5 per cent during 2002. The latest figures from research group Cambridge Econometrics has predicted a further decline in manufacturing, led by a sharp fall in output in ICT industries.
22 October 2001
Shoppers credited with UK economic resilience
The latest quarterly report by the Ernst & Young Item Club indicates that the UK should be able to avoid falling into recession despite the slowdown affecting other countries around the world. The report, which uses the Treasury's model for growth, predicted growth of 2.
Shoppers credited with UK economic resilience
The latest quarterly report by the Ernst & Young Item Club indicates that the UK should be able to avoid falling into recession despite the slowdown affecting other countries around the world. The report, which uses the Treasury's model for growth, predicted growth of 2.
02 October 2001
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
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