News Archive: Economics

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08, 2012 February:

USA still faces a rocky road to recovery says top economist

The U.S. residential market still faces a long and “rocky road” to recovery, Karl Case, the co-creator of the S&P/Case-Shiller Index of property values said this week as prices feel more steeply than expected.

China growth could drop by half in 2012 because of the Euro crisis warns IMF

Economic growth in China could drop by half this year in the event of a sharp recession in Europe, the IMF predicted on Monday in a report that underscored the importance of global trade to the world's second largest economy.

06, 2012 February:

Greece makes last-gasp effort to secure IMF 130bn euro bailout deal

Greece will today make a last-ditch attempt to stave off bankruptcy, which would send the eurozone into economic chaos and could ultimately bring down the single currency.

03, 2012 February:

Rising bills put the squeeze on first-time buyers

It is more difficult for first-time buyers to get on the housing ladder now than during the 2009 recession, according to a new study by RBS.

02, 2012 February:

Video - This month in US real estate (February)

The monthly review of the American property market from Keller Williams Realty International, plus advice on how buyers can improve their credit score.

Bulgaria scores perfect performance on 2011 budget

The Bulgarian government has fulfilled its revenue and spending plans for 2011 at close to 100%, and recorded a budget deficit lower than expected, announced the Ministry of Finance Wednesday.

31, 2012 January:

Video - Sarkozy announces economic plan

French President Nicolas Sarkozy has used a prime time television interview to lay out his plan to rejuvenate the economy.

30, 2012 January:

Obama administration expands foreclosure prevention program

The Obama administration is taking another swing at improving its main foreclosure prevention program.

Spain jobless rate soars to 17-year high

Spain's unemployment figure has topped 5 million, the highest rate for 17 years.

As Floridians prepare to vote in GOP primary, economy and housing top list

After policing the slushy Pennsylvania streets for 30 winters, Steve Dougherty decided the only slush he ever wanted to see again was in a frozen cocktail poolside.

27, 2012 January:

Video - French unemployment becomes key issue

Some French people are upset with their country's unemployment situation, which has reached nearly 10 per cent.

26, 2012 January:

UK economy shrinks by 0.2% in last three months of 2011

UK economic activity shrank by 0.2% in the last three months of last year according to official figures.

23, 2012 January:

Bank of Spain forecasts contraction of 1.5pc in 2012

Spain's central bank on Monday forecast that the country, which is struggling to slash its deficit and debt, will fall back into recession this year with a contraction of 1.5 percent.

20, 2012 January:

7 things that won’t happen in 2012

As Europe struggles with debt, the future of global property is uncertain. Reports suggest market recoveries one week, financial slides the next, while some still believe that the world will end in December. How do you know what property to buy? To clear up the confusion, here are seven things that won't happen in 2012...

Video - Egypt’s hushed economic crisis

Egypt's prime minister says the country is in the middle of an economic crisis and that most people there are not even aware of it.

18, 2012 January:

Brazil economy rebounds in November boosted by domestic consumer spending

Brazil’s economy grew at its fastest pace in 19 months in November, reversing a three-month contraction, as a recovery in consumer spending helped Latin America’s largest economy shrug off a global slowdown. Yields on interest rate futures rose.

17, 2012 January:

Price history: thriving property market in Seychelles

Blessed by nature, the Seychelles is an archipelago of 115 islands with superb beaches, an unspoiled landscape, virgin forest, amazing marine life, lots of orchids, bougainvilleas, hibiscuses, gardenias and frangipani, and a profusion of bird species found nowhere else. It is 1,600 km off the coast of East Africa, with a population of only 81,000.

16, 2012 January:

Markets mixed on ratings cuts of eurozone countries

European stock markets have opened slightly higher following falls in Asia after Standard & Poor's (S&P) cut the credit rating for France and a number of other European countries.

11, 2012 January:

Video - Brazil overtakes UK economy

Brazil has overtaken the UK as the world’s sixth largest economy, according to a research group.

Unemployment rate in US Dips to 8.5% in December

Since jobs drive the housing market, the U.S. real estate sector received a little good news today. The unemployment rate continued to slowly decline in December.

'Even worse recession ahead' if property market is not stabilised

Economist Peter Bacon has warned that Ireland faces a recession "more protracted and more severe than the one we are already in" if the Government fails to intervene in, and bring stability to, the property market.

10, 2012 January:

Agents say Spain's zero growth is good for investors

Spain's property market will not grow in 2012, the Fitch ratings agency has predicted. The country's GDP growth is forecast at zero per cent, with Fitch adding that any growth will be limited to the long term, but agents are confident that the country's continuing debt crisis remains good news for investors.

Germany to make getting a visa easier and faster

Germany will ease its visa controls this year in a move expected to help thousands of people and companies from Russia and China seeking to do business in the European Union’s biggest economy.

06, 2012 January:

Unemployment in Spain climbs to 4.4 million at end of 2011

Spain ended 2011 with record high unemployment, according to data released Tuesday as the new conservative government of Prime Minister Mariano Rajoy considers additional austerity measures to reduce the budget deficit.

22, 2011 December:

Ernst & Young: "Spanish recovery likely in second half of next year"

The crisis that began in the second half of 2007 is still continuing. The consultancy firm Ernst & Young’s report on Spain’s prospects for the coming years is based on the slowdown in the economy since the first quarter of this year, and which they warn is not likely to get back on the road to recovery until the second half of next year.

21, 2011 December:

Increased demand for UAE office take up as eurozone remains stable

Dubai office occupier activity has been buoyant in the third quarter of 2011 with the market seeing a significant upturn in lease enquires but the eurozone crisis has not damaged demand in Europe which is stable, according to the latest research from CBRE.

20, 2011 December:

Video - Economic mess: Is India staring at a financial crisis?

On NDTV's The Big Fight, industry experts discuss whether India's period of economic growth has ended - and whether the country can bounce back.

15, 2011 December:

Halifax: UK housing market resilient despite weak economy

Here Halifax’s housing economist, Martin Ellis, provides his thoughts on the housing market for the year ahead:

08, 2011 December:

Video - Germany and France call for Eurozone treaty reforms

Germany's chancellor says the Eurozone will stay on course, despite warnings of a mass downgrade of member states' credit ratings.

07, 2011 December:

Double digit property price growth seen in Albania

According to the budget bill passed by the Albanian parliament recently, Albania is predicted to see its budget deficit drop to 3pc of GDP next year with economic growth reaching highs of around 4.3pc despite the debt crisis and economic turmoil raging through the globe.

06, 2011 December:

France and Germany stand by eurozone plan

France and Germany have reaffirmed their commitment to reform the eurozone, after ratings agency Standard and Poor's put most of the zone on "credit watch" over debt crisis fears.

05, 2011 December:

Video - China battles economic slowdown

New figures show that China’s manufacturing sector shrank in November for the first time since February 2009. Vice-Finance Minister Zhu Guangyao has said the world’s economic troubles today are more serious than the Lehman Brothers crash of 2008.

02, 2011 December:

Households spent an average of £474 per week in 2010

Average UK weekly household spending in the UK rose to £473.60 last year.

The best- and worst-run states in the US

How well run are America’s 50 states? The answer depends a lot on where you live.

01, 2011 December:

UK incomes to fall 7.4pc in three years, says IFS

The independent Institute for Fiscal Studies (IFS) says George Osborne's economic plans will mean a sharp drop in household income.

29, 2011 November:

Expats in India on the up

India’s expat population is increasing, as people head away from the Euro to shake off their EU blues. 40,000 expats are currently working in India’s industries, and that number is on the up. 20 per cent more expats are now applying for jobs with Indian headhunters, according to reports, while in the business district of Chennai, house prices are rising as demand increases.

Central Banks ease most since ’09 to avert Europe-led slump

Central banks across five continents are undertaking the broadest reduction in borrowing costs since 2009 to avert a global economic slump stemming from Europe’s sovereign-debt turmoil.

Immigrants have a vital role in future of the US, report suggests

Immigrants in the United States will be better integrated and more beneficial to the economy than every before by 2030, according to a research report.

28, 2011 November:

Video - Obama notes tough economy this Thanksgiving

President Barack Obama is urging Americans facing tough economic times this Thanksgiving to believe in the nation’s ability to overcome its challenges.

25, 2011 November:

Poles quit Britain seeking better life back home

Marcin Grodski is among an estimated one million Poles who flocked to Britain over the last decade, but after a failed business and a broken heart, he is heading home unhappy and underqualified.

BRIC economies should move to the top table

The man who coined the acronym “BRIC” for the economies of Brazil, Russia India and China in 2001, Jim O'Neill of Goldman Sachs, thinks that the group should no longer be considered as "emerging" economies but rather as "growth" economies and that they should be given a place in groups like the G20.

22, 2011 November:

Spain’s election: A landslide of change?

The Spanish General Election, which saw the People's Party win in a landslide vote, is hoped to herald an avalanche of change in the property market. Spain's newly-elected party is being urged by the real estate industry to prioritise further tax cuts and incentives, as thousands of discounted homes remain unsold.

17, 2011 November:

UK sells Northern Rock to Virgin Money

The British government has agreed to sell Northern Rock, the failed mortgage lender it nationalised in 2008, to Virgin Money, the banking arm of Richard Branson's Virgin empire.

UK unemployment increases to 2.62m

UK unemployment rose by 129,000 in the three months to September to 2.62 million, as youth unemployment rose above a million.

Video: How will the November rate cut affect the property market in the lead up to Christmas?

Australia's central bank cut the interest rate in November for the first time in 31 months. As the industry speculates about another quarter-percentage decrease in the near future, Australian broker John Symond shares his thoughts on how the November rate cut will affect the property market in the run-up to Christmas.

16, 2011 November:

Economic growth forecast for Malta property market

The latest medium term economic forecast published by the European Commission paints an optimistic picture for the island of Malta's economy and a healthy climate for a property market that remains buoyant.

15, 2011 November:

Cost of housing second child is £60,000

The additional cost of housing a second child in the UK is £59,500, with the average three bedroom property costing 38% more than a home with two bedrooms, research from HSBC has revealed.

British searches for overseas property rise by 14%

More and more Britons are looking to buy property overseas despite the UK’s poor economic performance, according to the latest International Search Index from PrimeLocation.com.

14, 2011 November:

UK seeking £50 billion infrastructure boost - report

Ministers are drawing up plans for a 50-billion-pound housing and road-building programme harnessing private sector money, a newspaper reported on Sunday.