UK Economy Shrinks 2.4%
The Office for National Statistics (ONS) said today that the UK contracted by 2.4 percent during the first quarter of 2009. This is the largest quarterly decline in 51 years and much worse than the 1.9 percent estimate. More
Eurozone Experiences Negative Growth
For the first time since the euro was introduced in 1999, the annual inflation rate for the eurozone turned negative. Officials blamed lower energy and food costs – coupled with a falling demand for consumer goods – as the reason for the negative result. More
Japan’s Unemployment Numbers on the Rise
Unemployment in Japan jumped to 5.2 percent in June – its highest level since September 2003. More
California’s Budget Woes Threaten Country’s Recovery
Representing 12 percent of the country’s Gross Domestic Product (GDP) – and on it’s own the world’s eighth-largest economy – California’s on-going economic crisis threatens to delay America’s recovery as the state struggles under the weight of a $24 billion budget shortfall. More
