Growth
Survey of Professional Forecasters
SURVEY - The Federal Reserve Bank of Philadelphia has published its Survey of Professional Forecasters for the Third Quarter 2002. The U.S. economy is expected to grow in each of the next five quarters, but growth rates will likely be lower than those…
South Korean economy grows but pace slows
SOUTH KOREA - South Korea's economy grew 1.4 percent in the second quarter, down from a 1.9 percent rise in the previous three months, as growth in consumer spending and construction slowed, the central bank said on Thursday.
Philadelphia Fed survey shows factory growth slows
US - U.S. factory growth appears to have stalled, stirring speculation the Federal Reserve may cut interest rates in coming months to ward off a second recession if the weakness spreads.
Wage restraint could bring rate cuts for Norway
NORWAY - Norway's central bank governor said on Wednesday that demand and activity in Norway's oil-backed economy was still high but that lower wage growth could provide a basis for lower interest rates.
Chicago Fed's Moskow sees ongoing U.S. expansion
US - Chicago Federal Reserve President Michael Moskow said Wednesday that he expected the U.S. economy to keep growing, while warning that the path back to its potential growth rate could be rocky.
Financial Stability Review, 2002, from the NBB
ANNUAL REVIEW - Financial Stability Review, 2002 Issue 1, from the National Bank of Belgium. The review says that the diversity of topics covered in this first FSR illustrates that financial stability issues have to be studied from a wide variety of…
Iran's c bank governor says economic growth steady
IRAN - The governor of the Central Bank of Iran has said the country's economy enjoys a steady growth and that the positive trend will continue.
Some Fed members saw policy as too easy in June
US - In late June, some members of the Federal Reserve's interest-rate panel thought monetary policy was too easy for the central bank's long-term inflation-fighting and growth goals FOMC minutes show.
Stagnation warning from Poland's central bank
POLAND - GDP increases and the business climate will remain low in the third quarter of the year while economic growth will be buoyed by exports, the Polish National Bank said in a business climate research report released on Tuesday.
Puzzles in economic growth and exchange rates
Economic growth is a preoccupation of rich and poor, slow and fast growing countries alike. Graham Bannock reviews three attempts to unravel the mystery.
The Euro 50 Group Roundtable: The pact's performance and prospects
Pedro Solbes, a member of the European Commission, discusses the performance of, and prospects for, the stability and growth pact.
Establishing the credibility of inflation targets
Jannie Rossouw argues that inflation targetting alone is insufficient. Belief in the credibility of the inflation measure itself is essential for a successful policy.
Issing sees slow US growth rather than double dip
GERMANY - European Central Bank chief economist Otmar Issing was quoted on Monday as saying a "double dip" in the U.S. economy could not be ruled out but that continued slow growth was more likely.
ECB grows more cautious on growth outlook
GERMANY - A shift of stance on inflationary pressures by the European Central Bank on Thursday reflected growing pessimism on the outlook for economic growth in the eurozone.
Ecuador bank chief predicts 6% growth for 2003
ECUADOR - Ecuador's economy is set to expand by six per cent next year, up from four per cent growth this year, the country's central bank president, Mauricio Yepez, predicted on Friday.
Fed's Parry still sees modest U.S. expansion
US - A top Federal Reserve policy-maker said on Friday he still thinks the United States is in a modest economic expansion, despite weaker-than-expected growth figures for the June quarter.
Bush, Greenspan review economy over lunch
US - President Bush on Thursday hosted Federal Reserve Chairman Alan Greenspan for lunch to review the U.S. economic outlook following a second-quarter growth slowdown.
Bank of Canada, Monetary Policy Report Update
REPORT - Bank of Canada, Monetary Policy Report Update, July 2002. The report projects economic growth for Canada in the range of 3 to 4 per cent to the end of 2003. The report also says the Bank is committed to achieving the 2 per cent target for…
Sectors fared well - Oman's c bank annual report
OMAN - The non-petroleum sectors in Oman recorded significant growth in 2001, according to the Central Bank of Oman's annual report.
Floating rates are good for Zloty says Balcerowicz
POLAND - "We won't have fast economic growth if we don't heal public finances," said Leszek Balcerowicz, governor of Poland's central bank, in a speech before parliament on Tuesday.
Bank of France's Trichet sees euro zone growth
FRANCE - Bank of France governor Jean-Claude Trichet urged investors to "stay calm" during the slump in global financial markets, saying Wednesday that the downturn should not prevent growth in the 12-nation euro zone.
Increase in money returned by Pakistani's abroad
PAKISTAN - Remittances from Pakistanis living overseas more than doubled in the financial year that ended last month - their most robust growth for years, the State Bank of Pakistan said on Thursday.
Speech by Svein Gjedrem, Norges Bank, 11 June
SPEECH - In a speech titled 'Monetary policy and wage growth', Svein Gjedrem, governor of Norges Bank, addresses the general assembly of the Employers' Organisation NAVO, 11 June 2002.
Japan enjoys strongest growth for two years
TOKYO - Japan's economy has at last emerged from recession, enjoying its strongest growth for two years. The economy has rebounded from three straight quarters of contraction, growing 1.4% in the first quarter, which is an annualised rate of 5.7%.