Economic News

Simon English, Evening Standard2 January 2008, 1:08pm Pressure on the Bank of England to cut interest rates again next week rose today when further evidence arrived of a decline in the economy. WANT TO KNOW MORE? Video: Where next for the UK bank rate? OTHER STORIES Interest payments soar to £93bn Santander bid hopes send A&L soaring Market report: Wednesday latest Ocado  ...

BERLIN (Thomson Financial) - Germany's DIW research institute said it sees 2008 GDP growth for the country at 1.8 pct, adjusted for the number of working days, and 1.7 pct in 2009. In unadjusted terms, the economy will expand at a rate of 2.1 pct in 2008, which will slow to 1.7 pct in 2009, according to a report published by the institute. Foreign trade in 2008 will slow GDP growth by 0.3 pct af ...

WARSAW (Thomson Financial) - Poland's central bank is likely to have to raise interest rates by 25 basis points more than 2-3 times this year to bring inflation back to its 2.5 pct target, bank policymaker Halina Wasilewska-Trenkner was quoted as saying by PAP state news agency. "The scale of total rate rises will be decided by the February inflation projection," Wasilewska-Trenkner tol ...

LONDON (Thomson Financial) - The prospect of another interest rate reduction from the Bank of England next week remains as further evidence emerged of a marked deterioration in conditions in the UK's manufacturing sector. Analysts said the monthly survey into the sector from the Chartered Institute of Purchasing and Supply was far worse than projected and likely to stoke fears on the rate-setting ...

(adds comments from deputy prime minister Pawlak) WARSAW (Thomson Financial) - Polish inflation may drop sharply in the second half of 2008 provided food prices remain in check and do not have an inflationary impact on price expectations in the broader economy, deputy finance minister Katarzyna Zajdel-Kurowska said. "If we don't observe second-round effects, there is a chance that inflation ...

Growth in the UK manufacturing sector eased in December, as worries about the credit crunch led to new orders hitting a near two-year low, a survey shows. The data is likely to boost hopes of another interest rate cut to cushion against an economic slowdown this year. Firms reported that recent turmoil in financial markets had shaken client confidence, said the Chartered Institute of Purchasing and Supply. New manufacturing orders fell to their lowest level since March 2006. The Chartered I ...

HONG KONG (XFN-ASIA) - Share prices closed lower in line with most regional bourses as investors fretted about the US economy's prospects amid problems in its housing sector and credit markets. Dealers noted that trade was also thin as China is expected to adopt more tightening measures to curb inflation and prevent economic overheating. China Eastern Airlines extended Monday's sharp gains on ho ...

LONDON (Thomson Financial) - The dollar has started the new year on the back foot against the euro ahead of a raft of US economic data this week that is likely to reinforce concerns about the growth outlook for the world's largest economy. Analysts said the economic news out of the US is likely to keep the market's attention on the growth outlook, though inflationary concerns remain at a time of  ...

HONG KONG (XFN-ASIA) - Share prices closed lower in line with most regional bourses as investors fretted about the US economy's prospects amid problems in its housing sector and credit markets. Dealers noted that trade was also thin as China is expected to announce more tightening measures to curb inflation and prevent economic overheating. China Eastern Airlines extended Monday's sharp gains on ...

BANGKOK (Thomson Financial) - Thailand's inflation rate in December rose to a one-year high of 3.2 percent year-on-year due to surging energy costs and rising food prices, the Commerce Ministry said Wednesday. The December rate was up from November's inflation figure of 3.0 percent. The kingdom's inflation rate in 2007 stood at 2.3 percent, the ministry said. Inflation in December accelerated as ...