Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
Tags: Gross domestic product
FG Targets Other Sectors For Profit
Current paradigm swing in Nigeria’s economy brings attention and intensive efforts for the development of the critical sectors of the economy for the revenue that is very much needed, said the Federal Inland Revenue Service (FIRS).
India's FM voices rate cut ahead of RBI policy review
Arun Jaitley, India's Finance Minister, has voiced for a possible interest rate cut ahead of Reserve Bank of India's (RBI) review meeting next week, while focusing on controlling fiscal deficit. The Centre has already slashed interest rate on small savings making more conducive weather for lending rate cut.
US Q4 growth rate beats estimates
The rise in household spending has propelled US economy to grow surpass earlier forecasts for fourth quarter of 2015. However, the US GDP growth rate eased in fourth quarter from previous quarter.
ICRA foresees 7.7% growth for India in 2016-17
Rating agency ICRA forecasts India's gross domestic product (GDP) growth rate at 7.7 percent for next financial year 2016-17. The rating agency cites reasons for GDP growth rate to the implementation of 7th Pay Commission, OROP recommendations and domestic consumption.
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China is targeting seven percent gross domestic product (GDP) growth rate for 2016. The Chinese government is keen on real growth prospects over restructuring exercise this year, while avoiding inflating debt or asset bubbles.
India's services sector recorded 85.5 percent surge in inflows of foreign direct investments (FDI) during April - December 2015 period. This is 17 percent of the total FDI that India received during the period. The services sector contributed over 60 percent to the country's GDP.
India's budget allocation for the defense sector fell for the first time in the latest Union Budget-2016. India had been increasing military budget since its war with China 1962. It was notably down to 1.65 percent from 1.74 percent in previous budget.
Africa's largest trading block is attracting attention of global investors and businessmen. The recent 'Africa 2016' investment forum held in Egypt had participation of over 1,500 businessmen and government representatives. Foreign investors have called for more reforms and policy changes among African nations.
China has unveiled a series of new initiatives to push its economy growth rate. The government is keen on meeting the increasing demand in small and medium-sized homes. Another set of new rules for accelerating reforms at state-owned enterprises will be announced soon.
The British Pound strengthened against major global currencies after a report on UK's GDP growth. The report said that UK's economy speeded up during the fourth quarter of 2015. The rise in consumer demand helped the economy expansion. The British Pound recovered from the two-week low of 1.4338 against the US dollar to at $1.4314.
New orders for U.S. factory goods unexpectedly fell in January, posting their sixth straight monthly decline, a sign of weakness in the manufacturing sector.
U.S. economic growth was likely stronger in the third quarter than previously reported, according to data on Wednesday that showed spending on services expanding at a brisk clip.
New data released by the the Office for National Statistics in London today indicated a brighter economic outlook in the UK, thanks largely to an increase in business investments and home constructions.
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