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Economic Forecasting

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  • BEIJING— Asian stocks mostly drifted lower Monday as investors put Greece's debt crisis behind them to focus on the outlook for interest rates, corporate earnings and China's economy. Seoul's Kospi was off 0.2 percent at 2,071.87 and Bangkok, Taiwan and Manila also fell. Sydney's S&P/ASX 200 added 0.1 percent to 5,675.20 and Singapore and New Zealand also rose.

  • WASHINGTON— U.S. businesses' outlook on sales in the coming months has darkened after sales growth slowed in the second quarter, according to a survey released Monday. The overall survey results, compiled by the National Association for Business Economics, portray an economy muddling along at a steady, if tepid, pace. The survey was conducted from June 17 to July 1.

  • TEXT-ECB statement after policy meeting Thursday, 16 Jul 2015 | 8:49 AM ET

    We will now report on the outcome of today's meeting of the Governing Council, which was also attended by the Commission Vice-President, Mr Dombrovskis. When carrying out its assessment, the Governing Council will follow its monetary policy strategy and concentrate on trends in inflation and the medium-term outlook for price stability.

  • *Toshiba falls after sources say it faces up to $3 bln in charges over accounting scandal. TOKYO, July 16- Nikkei shares rose to a two-week high in early trade in Tokyo on Thursday as overnight comments on U.S. interest rates from Federal Reserve Chair Janet Yellen reinforced expectations that the U.S. economy is on track and steadily improving.

  • ADB cuts Asia, China 2015, 2016 growth forecasts Wednesday, 15 Jul 2015 | 9:30 PM ET

    MANILA, July 16- The Asian Development Bank has cut its 2015 and 2016 growth forecasts for China and the rest of Asia, largely as a result of the slower than expected growth in the region's largest economy and in developed economies elsewhere. The ADB raised slightly its 2015 forecast for South Asia to 7.3 percent against 7.2 percent in March, as an expected strong...

  • Higher rates soon, legal costs in the past, banks take off Wednesday, 15 Jul 2015 | 11:34 AM ET

    NEW YORK— The banking sector lead the S&P 500 index higher Wednesday as the biggest among them put up strong quarterly numbers and Federal Reserve Chair Janet Yellen confirmed that the central bank is likely to raise interest rates this year. Yellen, delivering the Fed's mid-year economic outlook to Congress, said there are clear signs that the economy is...

  • Bank of Canada cuts key interest rate to 0.5 percent Wednesday, 15 Jul 2015 | 11:22 AM ET

    TORONTO— Canada's central bank cut its key interest rate Wednesday as it slashed its economic outlook and predicted a pullback in the second quarter due to the impact of lower oil prices and weaker demand for exports. The Bank of Canada cut its target for the overnight rate by a quarter of a percentage point to 0.5 percent. "Global economic developments have been...

  • The Latest: GOP lawmaker attacks Yellen on subpoena Wednesday, 15 Jul 2015 | 10:39 AM ET

    WASHINGTON— The latest on Federal Reserve Chair Janet Yellen's mid-year economic outlook and testimony to Congress:. While Republicans urged Federal Reserve Chair Janet Yellen to consider adopting a rule to govern when the Fed raises interest rates, some Democrats urged her not to raise rates at all, at least not this year. Brad Sherman, D- California, said that...

  • *China Q2 GDP comes in at 7.0 pct vs 6.9 pct in poll. *China property floor space sales up, factory output jumps. LONDON, July 15- Copper steadied on Wednesday as investors weighed strong factory output and better-than-expected second-quarter growth in top consumer China against a renewed slide in Chinese equities and a dollar rally.

  • Industrial production up 0.3% in June Wednesday, 15 Jul 2015 | 9:15 AM ET
    Industrial production up 0.3% in June

    CNBC's Rick Santelli breaks down the latest numbers on the economy.

  • Yellen: First Fed rate hike likely later this year Wednesday, 15 Jul 2015 | 8:32 AM ET

    WASHINGTON— Federal Reserve Chair Janet Yellen said Wednesday she is encouraged by signs that the economy is reviving after a brutal winter. Yellen, however, downplayed the importance of the timing of the first rate hike as she delivered the Fed's mid-year economic outlook to Congress. Yellen spent three hours Wednesday addressing the House Financial...

  • The yen inched lower to 123.53 yen per dollar after the Bank of Japan trimmed its growth forecasts but gave a balanced and little changed account of the economic outlook, while traders awaited testimony by the U.S. Sterling, already a major outperformer on Tuesday after Bank of England officials spoke of the growing likelihood of interest rate hikes, rose to its...

  • *China Q2 GDP comes in at 7.0 pct vs 6.9 pct in poll. *China floor space sales improve, factory output jumps. LONDON, July 15- Copper and other base metal prices rose on Wednesday after top consumer China reported strong factory output and better-than-expected second-quarter growth, though a renewed slide in Chinese equities kept gains in check.

  • *Kuroda upbeat on China, urges Beijing to continue liberalisation. TOKYO, July 15- The Bank of Japan trimmed its economic growth forecast but held off on offering fresh stimulus on Wednesday, anticipating a pick-up in consumption will nudge inflation toward its 2 percent target. While cautiously upbeat on China's growth prospects, he urged Beijing to continue...

  • *Benchmark share indexes close down more than 3 percent. BEIJING, July 15- China's economy grew an annual 7 percent in the second quarter, beating analysts' forecasts, though its volatile stock markets took a sharp dive in a reminder of the threats to Beijing's efforts to direct the economy out of a slowdown. As the National Bureau of Statistics released the upbeat...

  • BOJ trims growth forecast as exports weaken Wednesday, 15 Jul 2015 | 2:52 AM ET

    The Bank of Japan trimmed its economic growth forecast on Wednesday but held off on offering fresh stimulus.

  • TOKYO, July 15- The Bank of Japan trimmed its economic growth forecast on Wednesday but held off on offering fresh stimulus, convinced that an expected pick up in consumption will help accelerate inflation toward its 2 percent target. BOJ Governor Haruhiko Kuroda reiterated his optimism on the global outlook, pointing to data showing China's economy grew a...

  • BEIJING, July 15- China's economy grew an annual 7 percent in the second quarter, steady with the previous quarter and slightly better than analysts' forecasts, though further stimulus is still expected after the quarter ended with a stock market crash. Slowing growth in trade, investment and domestic demand has been compounded by a cooling property sector,...

  • *Governor Kuroda to brief media 0630 GMT. TOKYO, July 15- The Bank of Japan trimmed its economic growth forecast on Wednesday but held off on offering fresh stimulus, convinced that an expected pick up in consumption will help accelerate inflation toward its 2 percent target. The BOJ's growth forecasts are not too far off the mark, but the inflation forecasts look...

  • BOJ keeps policy steady, trims GDP forecast Tuesday, 14 Jul 2015 | 11:23 PM ET

    TOKYO, July 15- The Bank of Japan kept monetary policy steady and largely maintained its upbeat inflation forecasts on Wednesday, even as soft exports and household spending forced it to trim its economic growth projection slightly. As widely expected, the BOJ reiterated its pledge to increase base money, or cash and deposits at the central bank, at an annual pace...