Economy
Jobless Claims in U.S. Decreased in Sign End to Payroll Reductions Nears The number of Americans filing
first-time claims for jobless benefits fell for a second week to
a level that indicates companies are nearing the end of payroll
reductions as the economy recovers.
Trade Deficit in U.S. Unexpectedly Shrinks as Oil, Automobile Imports Drop The trade deficit in the U.S.
unexpectedly narrowed in January as demand for foreign oil and
automobiles dropped.
Greece `Substantially' Underestimating GDP Contraction, Deutsche Bank Says Greece’s economy will contract
“substantially” more this year than the government forecast in
the deficit-cutting plan it gave to the European Commission,
said Deutsche Bank AG economists led by Thomas Mayer.
China's February Inflation Accelerates, Adding Pressure for Stimulus Exit China’s inflation reached a 16-
month high, industrial output climbed and new loans exceeded
forecasts, adding to the case for the government to pare back
stimulus measures.
Swiss National Bank Keeps Benchmark Rate Near Zero as Economy Strengthens The Swiss central bank reiterated
its readiness to counter “excessive” gains in the franc and
left the benchmark interest rate near zero as policy makers
try to nurture an economic recovery.
Economy in U.S. to Cool as Stockpiles Give Way to Exports as Growth Driver Efforts to stabilize inventories
will contribute less to the U.S. economy in coming months,
leaving business investment and exports to propel growth,
according to economists surveyed by Bloomberg News.
Japan Fourth-Quarter GDP Expands 3.8%, Revised From 4.6% Reported Earlier Japan’s economy expanded less than
initially estimated in the fourth quarter as companies pared
spending and stockpiles as deflation deepened.
ECB's Mersch Says Euro-Region Economic Recovery Likely to Remain `Erratic' European Central Bank council
member Yves Mersch said the economic recovery in the 16 nations
that share the euro will probably be uneven.
Iran Says Oil Fund Will Expand If Price of Crude Stays Above $65 a Barrel Iran, holder of the world’s second-
biggest oil and gas reserves, will add to its oil stabilization
fund if crude prices remain over $65 in the coming 12 months,
the deputy central bank governor said.
Philippines Keeps Benchmark Rate at Record Low, Pares Bank Lending Program The Philippine central bank pared
back a lending program for banks and said it will consider doing
more to reduce cash in the economy, even as it kept interest
rates at a record low.
Latvia Elections May Hamper Austerity, Weigh On Credit Rating, Fitch Says Latvian elections this autumn
threaten to hamper government efforts to push through austerity
measures vital to its international bailout, burdening the
country’s credit rating, Fitch Ratings said.
Sack Says Fed Selling Assets Would Risk Sudden Increase in Long-Term Rates Brian Sack, the New York Federal
Reserve Bank’s markets chief, said shrinking the central bank’s
$2.3 trillion balance sheet quickly through sales of assets
risks a sudden rise in long-term interest rates.
New Normal Becomes Old Normal With Exports Spurring Growth in New U.S. Mix The “new mix” is out to topple the
“new normal” as the paradigm for America’s economic future.
Fed `Extended Period' Pledge Faulted as Inflexible by Four Policy Makers The Federal Reserve’s pledge to
keep interest rates close to zero for an “extended period” has
come under criticism from policy makers who say it’s restricting
their room to maneuver as the economy recovers.
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