Thfire.com Everyday news that matters In a surprise and unexpected move the US Department of Commerce has cut its expected 4th-quarter growth from 3.2% to 2.8%. While the government is expecting a lower growth, analysts were having a different opinion. They estimated the growth to be 3.3%. Economic growth for the whole of 2010 was also revised down slightly, from 2.9% to 2.8%. As well ... Read More »
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German economy sees ‘record’ growth of 2.2%
The German economy grew by 2.2% in the three months to the end of June, its fastest quarterly growth in 20 years, official figures show. “Such quarter-on-quarter growth has never been recorded before in reunified Germany,” the national statistics office, Destatis, said. The main reason for the higher-than-expected growth was strong exports, helped by a weaker euro. Separate figures showed ... Read More »