German Economy Now Expected to Shrink in 2009
Previous predictions of a very modest 0.2 percent growth for the German economy have now been downgraded to a loss of 2.25 percent for 2009. This latest estimate would be the economy’s worst performance since the World War II era. More
UK Unemployment Nears 2 Million
Over 130,000 people were added to the unemployment rolls between September and November bringing total UK unemployment to 1.92 million. This is the highest number of unemployed since September, 1997. More
Bank of England Expected to Buy Securities to Spur Lending
Bank of England Governor Mervyn King announced that the Bank may start buying assets such as corporate bonds and commercial paper in order to increase liquidity within the banking system. More
