Harsh Winter Slows U.S. Growth in First Quarter
The Commerce Department reports GDP grew only 0.1 percent in January through March, the weakest since 2012, due to a harsh winter. Analysts expect a rebound in Q2 with March showing strength in retail, manufacturing, and services, and job gains likely above 200,000 in April.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Dan Greenhaus
Global Financial Services
BTIG
Ian Shepherdson
Pantheon Macroeconomics
Germany jobless rate slips to 6.8 percent in April
Germany's unemployment fell to 6.8 percent in April, a 0.3 point drop from March and about 111000 fewer jobless. The Federal Labor Agency said 2.94 million people were registered as unemployed, with seasonally adjusted rate at 6.7 percent. Frank-Juergen Weise cited improving growth conditions.
MENTIONED IN THIS ARTICLE
Berlin
Germany
Federal Labor Agency
Labor Agency
Frank-Juergen Weise
Europe
Associated Press
Spain Sees Slow Growth as Unemployment Remains High
Spain projects 1.2 percent growth in 2014 and 1.8 percent in 2015 as recovery begins but unemployment is forecast above 20 percent until 2017. Finance chief Montoro says 2014 deficit at 5.5 percent of GDP, with 2015 and 2016 targets at 4.2 and 2.8 percent respectively.
MENTIONED IN THIS ARTICLE
Madrid
Spain
Luis de Guindos
de Guindos
Cristobal Montoro
Cyprus raises 137 million with six year bonds issue
Cyprus issues six year bonds in a private placement raising 137 million dollars. The 6.5 percent notes will be listed on the London Stock Exchange and funds will help manage debt as Cyprus rebuilds trust after the bailout. The move follows the eurozone IMF rescue that crippled its banking sector and seized uninsured deposits.
MENTIONED IN THIS ARTICLE
Nicosia
Cyprus
London Stock Exchange
International Monetary Fund
Associated Press
Greece forecasts primary surplus and slow unemployment drop
Greece expects a 2.3 percent 2014 primary budget surplus and a 5.3 percent target for 2018 as the finance ministry says unemployment will decline slowly over four years. The plan accompanies a revised 2015 18 budget, amid ongoing austerity measures and bailout support from the eurozone and IMF.
MENTIONED IN THIS ARTICLE
Athens
Greece
Christos Staikouras
Europe
IMF says Russia economy already in recession amid sanctions
The IMF estimates Russia's economy shrank 0.5 percent in the first quarter and faces continued weakness. Antonio Spilimbergo warned that two consecutive quarters of negative growth define recession. Investors fear tougher sanctions over Ukraine and Crimea actions, with $60 billion pulled from Russia in Q1 and $100 billion expected in outflows this year.
MENTIONED IN THIS ARTICLE
Moscow
International Monetary Fund
Russia
IMF
Antonio Spilimbergo
Spilimbergo
U.S
Europe
Ukraine
Crimean
Kremlin
S&p
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Fort Lauderdale
Fla
Macy’s
Bed Bath and Beyond
Kohl’s
Asbury
Joel Naroff
Naroff
Nha N
Fortunagracht
Cleveland
AP Assembly Line
Sterling Heights
Mich
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