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Economic Forecasting

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  • WRAPUP 1-U.S. pending home sales hit nine-year high Monday, 29 Jun 2015 | 11:02 AM ET

    WASHINGTON, June 29- Contracts to buy previously owned U.S. homes rose to their highest level in just over nine years in May, in a further boost to the housing market and the broader economic outlook. The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, increased 0.9 percent to 112.6, the highest...

  • Following are news stories from the Bank for International Settlements' 85th annual report, in which the "central banks' central bank" warns of the financial and economic risks of keeping global interest rates too low. *Low rates fuel financial, growth instability: BIS. *Rising interest rates pose new risk for banks-BIS.

  • MEXICO CITY, June 26- Mexico expects a finalized 12- nation Pacific trade deal to double the country's agricultural exports to Japan's mostly-closed market, and the deal will likely be inked in the "next few weeks," a senior trade official said on Friday. The so-called Trans-Pacific Partnership, or TPP, would potentially cover 40 percent of the world economy and...

  • *EU's Tusk says "game nearly over" with Greece. *Greece faces default on Tuesday if no weekend deal. If Greece does not clinch an agreement at the weekend to unlock funds, it is set to default on an International Monetary Fund loan on Tuesday, possibly sparking a bank run, capital controls and raising doubts about its future in the euro zone.

  • Mauritius sees unemployment rate at 8 pct in 2015 Friday, 26 Jun 2015 | 5:27 AM ET

    PORT LOUIS, June 26- The unemployment rate in the Indian Ocean island nation of Mauritius is expected to rise to 8.0 percent this year from 7.8 percent in 2014 after an increase in the first quarter, official data showed on Friday. Statistic Mauritius said the unemployment rate jumped to 8.7 percent in the first three months of 2015 from 7.5 percent in the last...

  • *Both data due 2350 GMT June 28. TOKYO, June 26- Japan's factory output is forecast to have fallen in May but retail sales were expected to rise for a second straight month, a Reuters poll showed, highlighting an uneven economic recovery partly reflecting slack global demand. "Production adjustment is spreading among companies as inventory such as in the auto...

  • WASHINGTON, June 25- U.S. consumer spending recorded its largest increase in nearly six years in May on strong demand for automobiles and other big-ticket items, further evidence that economic growth was gathering momentum in the second quarter. "The robust rebound in spending provides some much needed confidence that the economic recovery is continuing to...

  • LONDON, June 25- Copper prices slipped on Thursday in volatile trade, hit by a looming slowdown in summer demand and as concerns over a potential Greek debt default dimmed prospects for the euro zone economy and related metals demand. Greece's international creditors will put their final proposal for a cash-for-reform deal to euro zone finance ministers for...

  • South Korea cuts growth forecast as MERS saps spending Thursday, 25 Jun 2015 | 2:32 AM ET

    SEOUL, South Korea— South Korea's finance ministry said Thursday that economic growth will slow this year as the outbreak of Middle East respiratory syndrome saps spending and tourism. The ministry cut its forecast for South Korea's growth to 3.1 percent from 3.8 percent. The outbreak that began last month is having a bigger effect on South Korea's economy...

  • SEOUL, June 25- South Korea announced a stimulus package of more than 15 trillion won on Thursday, including a supplementary budget, and slashed its economic growth forecast for the year as a deadly outbreak of the MERS virus added to pressure on the already shaky economy. "I am concerned growth will lag below 1 percent for a fifth straight quarter into the second...

  • South Korea cuts growth forecast as MERS saps spending Wednesday, 24 Jun 2015 | 10:56 PM ET

    SEOUL, South Korea— South Korea's finance ministry said Thursday that economic growth will slow this year as the outbreak of Middle East respiratory syndrome saps spending and tourism. The ministry cut its forecast for South Korea's growth to 3.1 percent from 3.8 percent. The outbreak that began last month is having a bigger effect on South Korea's economy...

  • SEOUL, June 25- The South Korean government said on Thursday it will pass a supplementary budget to counter economic fallout from the ongoing outbreak of Middle East. The finance ministry said the supplementary budget woud be part of measures to "reinforce finances" by more than 15 trillion South Korean won. The current account surplus is expected to reach $94.0...

  • The Oracle's top pick: Corning Wednesday, 24 Jun 2015 | 12:14 PM ET
    The Oracle's top pick: Corning

    Jay Bowen, CIO of Bowen, Hanes & Company, shares his view of stocks right now, and earnings forecast.

  • French jobless claims rise anew in May to fresh record Wednesday, 24 Jun 2015 | 12:08 PM ET

    PARIS, June 24- French jobless claims rose anew in May by a further 16,200 to reach a record high as a labour market recovery proves elusive despite an improving growth outlook in the euro zone's second-biggest economy. The Labour Ministry said the number of people registered as out of work in mainland France stood at 3,552,200 at the end of May, up 0.5 percent over...

  • June 24- Business sentiment at Asia's top companies was little changed in the second quarter from the first, with the building sector reporting the most optimistic outlook, followed by the food sector's most upbeat reading in two years. The Thomson Reuters/ INSEAD Asian Business Sentiment Index, representing the six-month outlook at 117 firms, was 70 for the...

  • Focus on Japan: Pro Tuesday, 23 Jun 2015 | 3:51 PM ET
    Focus on Japan: Pro

    Discussing the best bets around the world, with Kevin Nicholson, Riverfront Investment Group, and Matt Tuttle, Tuttle Tactical Management.

  • Cyprus economy forecast to begin recovery in 2015 Tuesday, 23 Jun 2015 | 10:31 AM ET

    NICOSIA, Cyprus— Bailed-out Cyprus' economy is projected to grow a modest 0.2 percent this year after contracting for three years, the International Monetary Fund said Tuesday. The IMF said in its latest review of Cyprus' bailout program that more business from other European Union countries will offset weaker demand from crisis-ridden Greece and Russia.

  • U.S. new home sales rise to seven-year high in May Tuesday, 23 Jun 2015 | 10:00 AM ET

    WASHINGTON, June 23- New U.S. single-family home sales increased in May to a more than seven-year high, further brightening the outlook for the housing market and the broader economy. The Commerce Department said on Tuesday sales rose 2.2 percent to a seasonally adjusted annual rate of 546,000 units, the highest level since February 2008. Housing is being buoyed...

  • *PMIs point to 0.4 percent GDP growth in current quarter- Markit. Markit's Composite Flash Purchasing Managers' Index, based on surveys of thousands of companies and seen as a good growth indicator, rose to 54.1 from 53.6, matching the most optimistic forecast in a Reuters poll. "This is a decent upturn in terms of business activity, demand and jobs growth and points...

  • LONDON, June 22- An uneasy truce between market watchdogs and central banks, struck during the financial crisis, is showing signs of strain as they look for ways to tackle potentially extreme volatility in bond markets when interest rates start to rise. Time is running out to come up with an in-depth plan, as economists believe the United States will start raising...