China revises up 2008 economic growth

Beijing (AFP) - Growth in China's industrial output, retail sales and fixed asset investment all fell to multi-year lows during January and February, official data showed Wednesday, as the world's second-largest economy expands at its slowest pace in a quarter century.

BEIJING: China's economy expanded 7.0 percent year-on-year in the first quarter, official data showed Wednesday, slumping to a new post global financial crisis low even as authorities take steps to bolster growth in the world's second-largest economy. The figure announced by the National Bureau of Statistics was lower than expansion of 7.3 percent in the final three months of last year, but exceeded the median forecast of 6.9 percent in an AFP survey of 15 economists.

BENGALURU: President Pranab Mukherjee today expressed the hope that economy would regain growth rate of over 8 per cent soon and the country's USD 350 billion-plus foreign reserves put India in a comfortable position to deal with global challenges. Inaugurating the centenary celebrations of the Federation of Karnataka Chambers of Commerce and Industry, the President said macro economic parameters like inflation and external sector balance have improved in the past year.

In the summer of 2013, at a time when the topic of soaring US debt was still paramount to the US public (total debt is now a far more ludicrous, and gargantuan, $19.3 trillion but nobody cares since all the central banks are monetizing global debt at an unprecedented pace and investors are happy to frontrun them, thus keeping yields low) the US surprised everyone by "increasing" GDP, and thus reducing the debt/GDP ratio which was at about 100%, in a very simple way: it changed the definition of GDP, in the process boosting GDP by about $500 billion, or 3%, with the flip of

Buddhika Weerasinghe/ Getty ImagesChinese new home prices continued to push higher in April, logging the fastest annual increase in two years. According to China’s National Bureau of Statistics (NBS), new home prices rose by 6.2% from April 2015, an acceleration on the 4.9% pace seen in the 12 months to March.

WASHINGTON – U.S. economic growth slowed in the fourth quarter, but not as sharply as previously estimated, with fairly strong consumer spending offsetting the drag from efforts by businesses to reduce an inventory overhang. Gross domestic product increased at a 1.4 per cent annual rate instead of the previously reported 1.0 per cent pace, the Commerce Department said on Friday in its third GDP estimate.

Ontario’s sputtering economy is the direct result of failed government policy, a new report from the Fraser Institute argues, and the province’s worsening odour is driving away potential newcomers.