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03.03.2013 15:41 Brazil`s gross domestic product grew just 0.9 percent in 2012

Brazil`s gross domestic product grew just 0.9 percent in 2012, the government said. It was the worst annual result since 2009, when the GDP contracted 0.3 percent. The GDP grew 2.7 percent in 2011 and ballooned 7.5 percent in 2010. Brazil`s statistics bureau, known by its Portuguese acronym as the IBGE, said on its website that the country`s service sector posted the best performance last year, growing 1.7 percent. Industrial output dropped 0.8 percent and agricultural production fell 2.3 percent. The IBGE said the country`s GDP totaled 4.4 trillion reals ($2.2 trillion) last year, while per capita GDP amounted to 22,400 reals ($11,200). At the start of 2012, the government forecast annual GDP growth of 4.5 percent, but gradually lowered its expectations. "Employment levels are excellent and more Brazilians are buying cars and their own homes," Finance Minister Guido Mantega said at a news conference. "Although the GDP was lower than expected, the international crisis did not knock on the doors of Brazilian families." Mantega said that in the last quarter of 2012 GDP grew 0.6 percent and that January figures show that the economy is improving. "The scenario for 2013 is more benign," he added.

27.02.2013 11:29 Russia`s seasonally adjusted GDP decreased 0.3 percent month-on-month in January 2013

Russia`s seasonally adjusted GDP decreased 0.3 percent month-on-month in January 2013, according to the Ministry of Economic Development. This is the first time Russia has experienced a decline in seasonally adjusted GDP in the last ten months. Russia`s GDP grew 1.6 percent in January 2013 compared with the same month of 2012. Industrial production decreased 1.5 percent in January in annual terms. Russia`s economy will grow less than previously forecast this year as the deteriorating global outlook weighs on demand and inflation hurts domestic consumers. Gross domestic product will expand 3.3 percent in 2013, less than the 3.6 percent expansion forecast in the fall, the World Bank said in a report today. Output will begin to recover in 2014, with GDP advancing 3.6 percent. Russia, the world`s largest energy exporter, has limited prospects to bolster growth through traditional channels as oil prices hold near record highs, according to the report. Europe is facing a deepening recession, while consumer-price growth in Russia is curbing the household spending that accounts for about half the economy.

18.02.2013 23:58 GDP fell by 0.6% in the euro area and by 0.5% in the EU27 during the fourth quarter of 2012

GDP fell by 0.6% in the euro area (EA17) and by 0.5% in the EU27 during the fourth quarter of 2012, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. In the third quarter of 2012, growth rates were -0.1% and +0.1% respectively. Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.9% in the euro area and by 0.6% in the EU27 in the fourth quarter of 2012, after -0.6% and -0.4% respectively in the previous quarter. During the fourth quarter of 2012, GDP in the United States was stable compared with the previous quarter (after +0.8% in the third quarter of 2012). Compared with the same quarter of the previous year, GDP rose by 1.5% in the United States (after +2.6% in the previous quarter). Over the whole year 20123, GDP fell by 0.5% in the euro area and by 0.3% in the EU27.

14.02.2013 13:17 Japan`s GDP contracted an annualized 0.4 percent in the fourth quarter of 2012

Japan`s economy unexpectedly shrank last quarter as falling exports and a business investment slump outweighed improved consumption, bolstering Prime Minister Shinzo Abe`s case for more monetary stimulus to end deflation. Gross domestic product contracted an annualized 0.4 percent, following a revised 3.8 percent fall in the previous quarter, the Cabinet Office said in Tokyo today. The median forecast of 32 economists surveyed by Bloomberg News was for 0.4 percent growth. Nominal GDP shrank 0.4 percent on quarter. The prolonging of Japan`s recession into a third quarter shows that benefits from a weaker yen and rising stocks have yet to be felt. The lower house of parliament passed Abe`s fiscal stimulus package today, while Bank of Japan Governor Masaaki Shirakawa and his colleagues raised their assessment for the economy and left monetary policy unchanged. Japanese exports fell for seven months through December as Europe`s crisis dragged on shipments and a dispute with China over islands claimed by both nations hurts demand for products such as Toyota Motor Corp.`s cars. Net exports contributed 0.2 percentage point to the contraction, the report showed. A 0.4 percent on-quarter rise in private consumption, which accounts for more than half of GDP, was not enough to avert a contraction even as colder-than-usual weather spurred sales of winter clothing and other items. Business investment fell 2.6 percent from the previous quarter, the fourth consecutive drop in capital spending, even as some companies said their earnings outlook is improving due to the weaker yen.

30.01.2013 21:01 Russia`s GDP increased by 2.4 percent in December 2012

The growth of Russia`s gross domestic product (GDP) totaled last December at 2.4 percent. In the fourth quarter of 2012, the Russian economy grew by 2.2 percent, said the Deputy Minister of Economic Development, Andrei Klepatch. Taking into account seasonal factors, the increase was 0.3 percent, he told reporters. According to Klepatch the Ministry`s forecast for the Russian GDP growth for the whole year 2012 remains at 3.5 percent. He expects that Russia`s GDP will increase in the first and second quarter of 2013 by more than two percent. "The increase in the first and in the second quarter will be at about two percen,t for the third and fourth (quarter) it is expected a significant acceleration", he said.

10.01.2013 15:36 Russia`s 2012 Consumer Price Inflation Reaches 6.6%

Russia saw a slight pick-up in headline consumer price inflation in December, although a moderation in underlying price pressures suggests the central bank may keep interest rates on hold for now. The data, which was in line with forecasts, suggests that after recently hiking rates to clamp down on price rises, the central bank is likely to shift its focus towards boosting economic growth. Headline consumer price inflation rose to 6.6 percent in December and in 2012 as a whole from 6.5 percent in November and 6.1 percent in 2011, data published by the Federal Statistics Service showed. That was above the central bank`s official 5-6 percent target range for the year. But core inflation, which strips out volatile food and energy prices, rose by 5.7 percent compared with a year earlier - an improvement on November when annual core inflation was 5.8 percent. A poor harvest last summer, coupled with the impact of increases in household utility prices that were delayed from before Presidential elections last March, led inflation to pick up sharply in the second half of last year from a post-Soviet low of 3.6 percent in April. Concerns about the rapid acceleration led the central bank to raise all its main interest rates by 25 basis points last September, despite concerns that tighter monetary would crimp economic growth. But a surprise fall in inflation in November was a sign that higher food prices had not fed through into inflationary expectations as many had feared, suggesting that the one-off monetary tightening in September had succeeded in containing the problem. The decline in core inflation in December provided further evidence that despite the rise in the headline rate, underlying inflation pressures are moderating. Analysts polled by Reuters late last month forecast that the central bank would begin cutting interest rates in the second quarter, as its concerns shift from controlling inflation towards stimulating the slowing economy. They forecast that inflation would fall to 6.1 percent by the end of 2013 - slightly above the central bank`s 5-6 percent target for the year.

06.01.2013 12:24 Growth of world economy in 2013 will be 3,2% in comparison with 3,1% in 2012

Economists surveyed by Reuters predict growth of world economy in 2013 for 3,2% in comparison with 3,1% in 2012. Thus, economy growth in 2013 to year will be insignificant and, besides, will depend as before on the USA and emerging markets because of stagnation in Europe. In many respects the forecast for 2013 depends on, whether developing countries will be able, such as Brazil and China, at last to show economic recovery which economists expected from them in 2012. Macroeconomic data from the People`s Republic of China testify lately that recession of the Chinese economy which appeared more long, than was expected, nevertheless ended, and in 2013 growth of gross domestic product of Heavenly Empire can exceed 8%. Experts don`t rest hope of acceleration of economic growth in the countries with the developed economy yet because many of them are still burdened with financial problems. Threats of stability of world economy habitually proceed from debt crisis in the eurozone captured by recession and possible further geopolitical shocks in the Middle East. The Swiss bank Credit Suisse also predicts low rate of restoration for world economy. For 2013, allegedly, growth of world GDP will be at the level of 3,4% in real terms that is 0,3 percentage points higher than in the previous year.

30.12.2012 20:01 The World Bank raised its 2013 economic growth forecast for China

The World Bank raised its 2013 economic growth forecast for China, citing the government`s fiscal stimulus plans and faster approval of large investment projects. China`s growth is projected to recover in 2013 to 8.4 percent due to the combination of monetary easing, local government fiscal stimulus, accelerated approval of investment projects and an upswing in the business cycle, the World Bank said in its East Asia and Pacific Economic Update published Wednesday. The bank also forecast that growth will reach 7.9 percent for 2012, significantly down from 9.3 percent in 2011. This was caused mainly by a slowdown in domestic demand following policy tightening to cool an overheating housing sector, and weaker external demand from high-income economies. The World Bank`s latest forecast for 2013 is higher than its earlier projection of 8.1 percent in a report released in October, but is slightly lower than the estimate made last week by the Chinese Academy of Social Sciences, a top government think tank, which forecast that GDP would grow by 8.5 percent next year, fuelled by government investment in infrastructure projects.

22.12.2012 14:18 U.K.`s gross domestic product rose less-than-expected in the last quarter

U.K.`s gross domestic product rose less-than-expected in the last quarter, official data showed. In a report, the U.K. Office for National Statistics said that GDP rose to 0.9%, from 1.0% in the preceding quarter. Analysts had expected U.K.`s gross domestic product to rise 1.0% in the last quarter. The Office for National Statistics said that the reduction in the rate of growth for the UK`s gross domestic product was caused by lower, revised estimates of output by the services industry and production industries including manufacturing. Construction activity was revised slightly higher. Despite the revision, the third quarter was the UK economy`s best performance since the second quarter of 2010, when GDP also rose 0.9%. Third-quarter growth also brought an end to a shallow nine-month recession, Britain`s second downturn since the banking crisis in 2008.

22.12.2012 13:57 US gross domestic product expanded at an annual rate of 3.1% from July through September

U.S. economy expanded at an even faster pace than previously estimated in the third quarter, but the gains could be an outlier for the year as fiscal cliff worries and superstorm Sandy will likely slow growth in the final months of 2012. The nation`s gross domestic product--the broadest measure of goods and services produced in the U.S.--expanded at an annual rate of 3.1% from July through September, the Commerce Department said. The figure was revised up from last month`s estimate of 2.7% growth. Economists surveyed by Dow Jones Newswires had forecast a 2.8% growth rate. The latest reading "has not greatly changed the general picture of the economy for the third quarter," the Commerce Department said. Consumer spending is now showing a modest pick up and imports a downturn. New data shows consumer spending advanced at a 1.6% rate during the quarter compared with the prior estimate of 1.4%, largely due increased healthcare outlays. Likewise, imports, which subtract from GDP gains, are now seen as falling 0.6% during the third quarter, compared with last month`s 0.1% gain. Lower oil prices contributed to the change. The latest data show that economic growth accelerated from the second quarter`s 1.3% rate. Still, the biggest boost to third-quarter expansion came from factors that may be short-lived--significant upturns in private inventory investment and federal government spending. The change in private inventories contributed 0.73 of a percentage point to growth, but the boost could be an impediment in the fourth quarter because excess stockpiles may cause businesses to slow production. Real final sales--GDP less changes in private inventories--increased a more modest 2.4% in the third quarter. Federal government spending, which jumped 9.5% in the third quarter after contracting each of the prior four periods, is unlikely to continue to grow at that pace as Washington prepares for deep spending cuts next year.


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