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Economic Forecasting

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  • 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...

  • Cuba sees first-half GDP growth of 4 percent Monday, 22 Jun 2015 | 8:32 AM ET

    HAVANA, June 22- The Cuban economy will grow 4 percent in the first half of 2015, in line with official forecasts on the strength of increases in sugar production, manufacturing, construction and trade, Economy Minister Marino Murrillo said. Gross domestic product growth was up from 1.3 percent, the latest official estimate for all of 2014. In December, Cuba...

  • TOKYO, June 22- The Bank of Japan said it expects factory output to fall for the first time in three quarters in April-June on weak Asian demand, underscoring the fragile nature of the economic recovery. Industrial production rose 1.5 percent in January-March from the previous quarter, helping the world's third largest economy expand much faster than expected.

  • DIARY- Emerging Markets Economic Events to July 3 Friday, 19 Jun 2015 | 8:02 PM ET

    JERUSALEM- Bank of Israel announces rate decision- 1300 GMT. BUDAPEST- Central Bank of Hungary holds rate-setting meeting. PARIS- Launch of the OECD business and finance outlook.

  • BOGOTA, June 19- Colombia's central bank will leave its benchmark interest rate unchanged at its meeting on Wednesday, with inflation higher than its target range and a deteriorating economic outlook, a Reuters poll of analysts showed on Friday. All 24 analysts surveyed expect the central bank to hold the rate at 4.5 percent for a 10th straight month, and most...

  • ST PETERSBURG, Russia, June 19- Russia's second-largest bank, VTB, hopes to break even in 2015 if the central bank keeps lowering its key interest rate as the bank expects, VTB's chief financial officer said on Friday. VTB's Herbert Moos also told Reuters in an interview at the St Petersburg International Economic Forum that he saw the bank's 2015 cost of risk at...

  • BANGKOK, June 19- Thailand's central bank cut its 2015 growth forecast and said exports would contract for a third straight year and that consumer prices will fall this year. The Bank of Thailand lowered its growth projection to 3.0 percent from 3.8 percent seen three months ago. "The economy will return to its normal trend next year," Assistant Governor Mathee...

  • TOKYO, June 19- Japanese shares prices rebounded from one-month low on Friday, taking heart from rises in global shares on the Fed's cautious rates and economic outlook, but they posted the third straight weekly decline. Turnover was 2.96 trillion yen, more than 10 percent above the average during the 100 past days. The market showed limited reaction after the...

  • SYDNEY/ SINGAPORE, June 19- The dollar held steady near a one-month low against a basket of major currencies on Friday, after tame U.S. inflation data added to uncertainty over when the Federal Reserve will begin raising interest rates. The yen showed limited reaction after the Bank of Japan kept monetary policy unchanged as expected, reiterating its pledge to...

  • FOREX-Dollar outlook darkens, sterling shines Thursday, 18 Jun 2015 | 8:34 PM ET

    SYDNEY, June 19- The dollar wallowed at a fresh one-month low against a basket of major currencies early on Friday, as tame U.S. inflation data added to uncertainty over when the Federal Reserve will begin raising interest rates. The dollar dipped as far as 122.475 yen overnight, continuing to retreat from this week's high of 124.465. A Bank of Japan policy meeting...