InfoAnda - British economy suffers growth downgrades

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Pakistani stocks edge lower, rupee up against dollar | 21 December 2010
Training, drug use major issues for Afghan police | 5 October 2009
Random House buys `Moosewood Cookbook' publisher | 2 March 2009

NATO: 2 US service members killed in bomb attack | 4 September 2009

Forum Views () Forum Replies ()

Read more with google mobile : British economy suffers growth downgrades

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap British economy suffers growth downgrades AFP - Thursday, December 23 Send IM Story Print British economy suffers growth downgrades LONDON (AFP) - – British economic growth for the first three quarters of 2010 was downgraded Wednesday in a fresh piece of bad news for the economy, which faces headwinds next year from government austerity measures. Gross domestic product -- the total value of all the goods and services produced in the economy -- grew by 0.7 percent in the July-September period. "UK gross domestic product (GDP) in volume terms rose by 0.7 percent compared with the previous quarter, revised down from the 0.8 percent rise published in November," the Office for National Statistics said in a statement. In a further blow, the ONS also trimmed its estimate for second-quarter expansion to 1.1 percent, compared with 1.2 percent previously. And first-quarter economic growth was pegged back to 0.3 percent from 0.4 percent. The downward revision in the third quarter was largely due to lower growth from the construction sector, industrial output and business services. The downbeat news comes one day after data showed that British state borrowing soared in November to the highest monthly level since records began. IHS Global Insight economist Howard Archer argued that the economy was holding up -- but would face major headwinds next year as the government imposes deep spending cuts and large tax hikes to slash a huge deficit. "While the modest downward revision to GDP growth ... is disappointing, it does not fundamentally change the picture that economic activity held up well in the third quarter after robust growth in the second quarter," he said. However, he added: "We expect growth to lose significant momentum over the coming months as fiscal tightening increasingly bites and adds to the pressures on already stretched consumers." In the foreign exchange market, the British pound sank against rival currencies following news of the downgrades. "This is really disappointing news," said Mark Bolsom, head of the UK trading desk at Travelex Global Business Payments in London. "The revision has taken the shine off the data and markets will be disappointed that UK growth is not as robust as it initially seemed." He added: "It's a bad end to the year for sterling, as I expect growth to slow sharply next year as spending cuts and tax hikes start to bite." Britain is facing the prospect of taxation hikes and massive cuts to public spending in 2011 as the Conservative-Liberal Democrat coalition government seeks to slash a huge deficit. On January 4, the VAT sales tax on goods and services rises to 20 percent from 17.5 percent currently. The ONS added on Wednesday that British GDP climbed by 2.7 percent between July and September compared with the third quarter in 2009. That was also a modest downgrade from the previous figure of 2.8 percent. Market expectations had been for no change for both the quarterly and the annual readings for the third quarter. In November, Britain raised its official 2010 growth forecast to 1.8 percent from 1.2 percent, citing a stronger-than-expected recovery. However, the economy was expected to grow more slowly than expected in 2011 and 2012, as the sweeping austerity measures begin to bite. Recommend Send IM Story Print News Search Top Stories Indonesia's dragons draw tourists to 'Jurassic' islands Time Magazine honors AFP photographer US third quarter GDP growth revised higher British economy suffers growth downgrades Deal reached on aircraft export credits: OECD More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Fears grow of euro-style debt crisis in US states Zsa Zsa Gabor's husband glues own eye shut US gets tough on shark fins Lunar eclipse makes memorable solstice 'World's first' glasses-free 3D TV hits Japan More Most Viewed » NASA finds new form of life... on Earth Defiant Obama defends tax cuts, eyes 2012 More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Thursday, 23 December 2010
Thousands of Italian students take to the streets
Iranian whipped in public for drinking alcohol
France charges Hutu rebel over 1994 Rwanda genocide: source
Ministers' gaffes show tensions in British coalition |
Time Magazine honors AFP photographer
US third quarter GDP growth revised higher
British economy suffers growth downgrades
Russian paper to air WikiLeaks corruption material |
Italian students march against education law |
Sony to buy back chip plant from Toshiba: report
Motorola Mobility buys cloud storage firm Zecter
Pro-Kremlin group luring youth with spy luster |
Sex hotel scandal is first for Brazil's next government |
Salvadoran sentenced to 30 years for Cuba bombings |
Dubai's DP World sells $1.5 bln Australian stake
US-ENTERTAINMENT Summary
Japan slams officials over whale meat gifts
Sofia Coppola looks at Hollywood life in "Somewhere"
Indian opposition rally on graft pressures government
Chinese film to star Hollywood's Bale
Warm Russian, Indian ties outlive Cold War
Apple drops WikiLeaks app, Google keeps it |
Pakistan and Iran jockey for influence after bombings
Protests on last day of China envoy's Taiwan visit
Skype hit by outage, says investigating |
Lottery spreads Christmas cheer in Spain
Taiwan, US to resume trade talks after 3-year gap
Beatles 'Abbey Road' crossing given heritage status
China bans random mixing of foreign words with Chinese
Pakistani stocks, o/n rates up; rupee weakens
Baidu's face to Facebook talks ignore chime of wedding bells
Robert Gates is Man of Year at MTV college network
Teradata to buy cloud software firm Aprimo for $525 million |
Jennifer Hudson "Feeling Good" about weight loss
Chinese film to star Hollywood's Bale
Sony launches subscription music streaming service
Beatles' Abbey Road crossing wins protected status
Sofia Coppola looks at Hollywood life in Somewhere |
Julie Andrews, Dolly Parton win lifetime Grammys |
Michael Jackson album fails to top pop chart |
Live from the jury box, it's Steve Martin! |
Analysis: Europe seen needing regulation on Internet access
German publisher Springer unveils iPad-only project
Pakistani IT firm's app tops Blackberry list
News
British gov't hit by fresh revelations of dissent
European airports race to clear Christmas backlog
South Korea holds drill, North lobs only insults |
Thai rangers killed in rebel ambush |
U.S. Senate approves nuclear arms treaty with Russia
World Bank cuts Ivorian financing as crisis deepens |
Venezuela opposition slams coup d'etat by Chavez |
U.S. military to allow gays, but rules will take time
Former Argentine dictator Videla jailed for life |
News
U.S. Senate likely to pass START treaty Wednesday
Mexico leftist mayor rules out alliances in 2012 |
Draft on settlements ready for U.N.: Palestinians |
News
Rovi to buy Sonic for $720 million, widens digital |
News
Mobile security firm Lookout raises $19.5 million |
Lille Christmas champions, 10-man PSG hit by Hadji double
Oil jumps to highest levels since 2008
Sony in talks to buy back Toshiba chip line: source |
Indonesia's dragons draw tourists to 'Jurassic' islands
News
South Korea holds drill, North lobs only insults
News
S.Korea starts new drill as N.Korea raps 'warmongers'
Outage takes out Skype, recovery taking hours
Thai rangers killed in rebel ambush
Google buys New York office building
Bollywood hopes animation is a draw for audiences
US-ENTERTAINMENT Summary
Australia apology to Indian doctor over terror charge
Apple drops WikiLeaks app, Google keeps it
David Schwimmer's violent film "Trust" loses ratings appeal
Obama to welcome China's Hu Jintao January 19
Activision wants to add Electronic Arts to lawsuit
Specialty films off to strong start at box office
Japan hails US-Russia new arms control treaty
"Despicable Me" tops DVD sales chart
Taylor Swift returns to No. 1 on U.S. album chart |
Sony in talks to buy back Toshiba chip line: source
S.Korea, China in consultations over boat sinking
Foo Fighters play new songs at secret L.A. show
Officials order new safety measures for Spider-Man |
5.4 magnitude quake shakes Indonesia, no tsunami threat
Christian Bale to star in Chinese massacre film
Motorola Mobility buys cloud storage firm Zecter
Foo Fighters play new songs at secret L.A. show |
Taylor Swift returns to No. 1 on U.S. album chart
Craigslist pulls all adult services ads: state official
Christian Bale to star in Chinese massacre film |
"Gulliver's Travels" relies too much on effects
Teradata to buy cloud software firm Aprimo for $525 million
Country Strong a Nashville nightmare |
Officials order new safety measures for "Spider-Man"
Sony in talks to buy back Toshiba chip line: source
Specialty films off to strong start at box office |
Bush memoir speeds past 2 million sales level
David Schwimmer's violent film Trust loses ratings appeal |
Despicable Me tops DVD sales chart |
Gulliver's Travels relies too much on effects |
S.Korea to import 4 mln T grains directly by 2020
Seoul shares end flat, Samsung Electronics eases
Taiwan to issue T$185 bln in govt bonds in Q1 2011
Taiwan sells 30-year govt bonds at 2.2030 pct yield
S.Korea c.bank cuts SME credit facility ceiling
US challenges Chinese wind power subsidies at WTO
Seoul shares take breather, Samsung Electronics down
NZ economy unexpectedly shrinks, delay in rate hikes seen
Korea Hot Stocks-POSCO down on earnings worries
NPS to entrust $87 bln to outside fund houses next yr
Police check all Rome embassies after explosions |
Russian Duma could ratify START within days |
News
China speeds plans to launch aircraft carrier: sources |
Would-be PM Soro calls for ICC mission to I.Coast
Lib Dems say UK coalition safe after paper sting |
U.S. confirms embassy hit in Ivory Coast violence
Five detained Belarus candidates may face charges |
Russian Duma could ratify START within days
Man detained near George W. Bush's home
Thai film board splats gay-themed movie
News
Global Weather-Celsius
News
News
News
Beijing's top 10 hangout spots in 2010
News
Five million Britons to shop online on Xmas Day |
Micron sees lower NAND chip pricing |
Asia Fuel Oil- Taiwan Formosa offers 55,000T, January
Pakistani stocks end down; rupee firms, o/n rates flat
Pakistan's forex reserves fall to $16.39 bln
Taiwan regulator meets AIG CEO on Nan Shan sale
Taiwan: buyers of insurers must fund future business
Cold weather, Christmas demand fuels oil prices
China pledges support to eurozone countries
News
SK Energy to sell $2.4 bln stake in Brazil unit
AIG may unveil buyer for Taiwan unit next week: report
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01