The CEBR – Centre for Economics and Business Research, expects a shrink in the UK economy by almost 2.9% in the year 2009, which is more than any time ever since the 40s. It also predicts a decline in the consumer spending and a slump in all forms of business investment. The forecasters also predict Read more
A plan for economic recovery of EU member states has been proposed by the European Commission. European Commission is urging member states to sign up for this plan that aims to be coordinated across the European bloc by combining tax cuts and targeted investment. The details about the plan have been unveiled on Wednesday and Read more
To stabilize US economy and the financial system, the Federal Reserve has announced to offer another $800bn stimulus. According to the US Treasury Secretary Henry Paulson, the package has been announced for the availability of more lending to consumers. The new package will be used to buy mortgage-backed securities and thaw out the freezing consumer Read more
Figures from the commerce Department show that between July and September, the US economy has shrunk at an annualized rate of 0.3%. Though they showed the sharpest contraction of the economy since 2001, the gross domestic product (GDP) figures were better than expected. On the other hand, consumer spending that constitutes two-thirds of the US Read more