World Bank Cuts Projections for China’s Output
Weakening demand for China’s exports has prompted the World Bank to cut its projections for China’s economic growth for 2009 to 6.5 percent from 7.5 percent. More
UK Unemployment Exceeds 2 Million
For the first time since 1997, the number of unemployed people in Britain actively seeking employment has surpassed two million. More
US CPI Jumps 0.4%
The US Labor Department announced that consumer inflation as measured by the Consumer Price Index (CPI) rose 0.4 percent for the month of February – the largest single-month increase since last July. Most of the increase can be attributed to a jump in fuel costs over the past two months. More
US Current Account Deficit Down for 2008
The US Current Account deficit fell dramatically in 2008 to $673.3 billion from $731.2 billion for the previous year. The Commerce Department attributes this to a strong pullback in imports as American consumers curb spending levels. More
