France out of recession, official figures showSeptember 25th, 2009 PARIS - France emerged from recession in the second quarter of 2009 as its GDP rose by 0.3 percent, the government's statistics office INSEE announced Friday. The economic expansion followed four consecutive quarters of contraction for the French economy, caught up in the global economic crisis.
Unemployment rises in SpainSeptember 2nd, 2009 MADRID - A total of 84,985 people were added to jobless rolls in August, following three consecutive months of declining unemployment, putting the total number of people without work in Spain at 3.6 million. The number of people without jobs has risen by 1.09 million, or 43.44 percent, in the past 12 months, the labour and immigration Ministry said Wednesday.
South African economy still in recession, says expertAugust 19th, 2009 JOHANNESBURG - The contraction of South Africa's gross domestic product (GDP) by three percent for the second quarter of 2009 indicates the economy is still in recession, BuaNews reported Wednesday citing an expert. Business Unity South Africa (BUSA) a business association, deputy chief executive officer Raymond Parsons said the figure released by the statistics department showed the rate of negative growth in the economy has slowed, but the country is still in a recession.
South Korea's economy surges to highest growth in 5½ years in second quarterJuly 24th, 2009 S. Korea economy grows at fastest pace in 5½ yearsSEOUL, South Korea — South Korea's economy recorded its strongest growth in 5½ years in the second quarter as increased government spending and record low interest rates insulated it from the global recession. Asia's fourth-largest economy expanded 2.3 percent in the three months ended June 30, the Bank of Korea said Friday.
South Korea's economy surges to highest growth in 5 1/2 years in second quarterJuly 24th, 2009 SKorea economy grows at fastest pace in 5 1/2 yrsSEOUL, South Korea — Government pump-priming and easy credit jolted South Korea's economy to its fastest growth in nearly six years in the second quarter, adding to evidence Asia is rebounding from the global slump. The region's fourth-largest economy expanded 2.3 percent in the three months ended June 30, the Bank of Korea said Friday, as record low interest rates and government stimulus spending insulated it from the global downturn.
South Korea's economy surges to highest growth in 5 1/2 yearsJuly 24th, 2009 SKorea's economy grows 2.3 percent in 2nd quarterSEOUL, South Korea — South Korea's economy recorded its strongest growth in 5½ years in the second quarter as increased government spending and record low interest rates insulated it from the global recession. Asia's fourth-largest economy expanded 2.3 percent in the three months ended June 30, the Bank of Korea said Friday in a report.
South Korea's June trade surplus hits record as export decline slowsJuly 1st, 2009 South Korea's June trade surplus hits recordSEOUL, South Korea — South Korea's trade surplus hit a record high in June as a decline in exports caused by the global economic slowdown eased and imports fell, government data showed Wednesday. South Korea had a trade surplus of $7.4 billion in June, the Ministry of Knowledge Economy said in a release.
British economy contracts at fastest rate in 51 yearsJune 30th, 2009 LONDON - The British economy shrank by 2.4 percent in the first quarter - the fastest rate of shrinkage in more than 50 years, according to official figures released Tuesday. The Office for National Statistics (ONS) said the contraction between January and March was the fastest since 1958.
US economy shrank by 5.5 percent in first quarterJune 25th, 2009 WASHINGTON - The US economy shrank 5.5 percent in the first quarter of 2009, according to a final estimate by the US commerce department Thursday that confirms the worst six-month stretch in five decades. The department's final figure was improved slightly from a previous estimate of a 5.7-percent contraction.
South Korea's unemployment rate falls to 3.8 percent amid signs economy improvingMay 13th, 2009 South Korea's jobless rate falls to 3.8 percentSEOUL, South Korea — South Korea's unemployment rate fell to 3.8 percent in April, government data showed Wednesday, adding to signs the country's battered economy is improving. The jobless rate declined from 4 percent in March, the Korea National Statistical office announced.
South Korea's April trade surplus hits record on import decline; export drop easingMay 1st, 2009 South Korea's April trade surplus hits recordSEOUL, South Korea — South Korea's trade surplus hit a record high for the second straight month in April as imports fell sharply on cheaper costs for oil and as declines in exports eased, the government said Friday. South Korea had a trade surplus of $6.02 billion in April, the Ministry of Knowledge Economy said in a release.
Mexico says economy contracts nearly 7 percent in first quarter, industry down 12 percentMay 1st, 2009 Mexico: Economy down near 7 percent in 1st quarterMEXICO CITY — Mexico says its economy shrank nearly 7.0 percent in the first quarter from the previous year, as manufacturing exports plunged 22.8 percent. Mexico's Treasury Department says the drop "is due to the deterioration of global economic conditions." It says the country lost 372,289 jobs during the quarter.
South Korea's economy narrowly avoids recession on government stimulusApril 24th, 2009 South Korea stimulus puts recession on holdSEOUL, South Korea — South Korea's economy, Asia's fourth largest, narrowly avoided recession in the first quarter as government pump priming offset a slump in exports but officials still predict a contraction for the full year. Gross domestic product grew 0.1 percent in the first quarter from the last three months of 2008 when it shrank 5.1 percent, the Bank of Korea said Friday.
India's GDP growth drops to 5.3 percent in third quarterFebruary 27th, 2009 NEW DELHI - The growth of India's gross domestic product (GDP) dropped to 5.3 percent in the third quarter ending Dec 31 last year, compared to a growth of 8.9 percent in the same period the previous year. The economy, usually equated to the GDP, had grown by 7.6 percent in the second quarter of this fiscal.
South Korean economy shrinks 5.6 percentJanuary 21st, 2009 SEOUL - South Korea's economy contracted at a more-than-expected rate of 5.6 percent in the final quarter of 2008 - its biggest drop since the Asian financial crisis a decade ago - and may be heading towards a deep recession. As exports shrank, domestic consumption waned and business investment declined, the central bank said Thursday.
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