The world economy: Weaker than it looks

Posted: October 10, 2014 in economy
Tags: , ,

UK Only Article: 
standard article

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The gay divide

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The world economy

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Growth is healthy in America and Britain. But most of the world economy is in trouble

FOR the American and British economies it has been a long road out of the woods, but the journey is nearing its end. America’s unemployment rate fell below 6% in September. Britain’s economy, where output was up 3.2% in the year to June, is growing faster than any other big rich country’s. Central bankers are counting the days until they can raise interest rates.
Virtually everywhere else, however, the news is grim and getting grimmer. The euro zone, the world’s second-biggest economic area, seems to be falling from a feeble recovery back into outright recession as Germany hits the skids. Shockingly weak industrial production and export figures mean Germany’s GDP is likely to shrink for the second consecutive quarter—a popular definition of recession. Japan, the world’s third-biggest economy, may also be on the edge of a downturn, because April’s rise in the consumption tax is hurting …

via Economic Crisis http://ift.tt/1yQ8oG5

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