Recession of 2009/Addendum: Difference between revisions
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'''US industrial production falls'''. Chicago Federal Reserve Bank's National Activity Index (CFNAI) falls from -1.61 for August to -2.57 for September, mainly on steep fall in industrial production [http://www.chicagofed.org/economic_research_and_data/cfnai.cfm]. | '''US industrial production falls'''. Chicago Federal Reserve Bank's National Activity Index (CFNAI) falls from -1.61 for August to -2.57 for September, mainly on steep fall in industrial production [http://www.chicagofed.org/economic_research_and_data/cfnai.cfm]. | ||
'''US consumer confidence falls''' to its lowest point since first measured in 1967. | |||
'''US output falls''' - by 0.3% between second and third quarters of 2008 [http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm] | |||
'''US interest rate reduced''' - a 0.5 percentage point cut in the Federal Reserve Bank's benchmark rate to 1.0%. | |||
'''Credit crunch eases slightly''' in late October - after steep rises in September[http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4992350.ece] [http://www.economist.com/finance/displaystory.cfm?story_id=12480863]. | '''Credit crunch eases slightly''' in late October - after steep rises in September[http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4992350.ece] [http://www.economist.com/finance/displaystory.cfm?story_id=12480863]. | ||
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'''UK output falls''' - by 0.5% between second and third quarters of 2008 [http://news.bbc.co.uk/2/hi/business/7686552.stm]. | '''UK output falls''' - by 0.5% between second and third quarters of 2008 [http://news.bbc.co.uk/2/hi/business/7686552.stm]. | ||
'''Crises in Iceland, Hungary and Ukraine''' - to be tackled by loans from the [[International Monetary Fund]] | '''Crises in Iceland, Hungary and Ukraine''' - to be tackled by loans from the [[International Monetary Fund]] | ||
Revision as of 11:30, 31 October 2008
Recent economic developments
Autumn 2008
US industrial production falls. Chicago Federal Reserve Bank's National Activity Index (CFNAI) falls from -1.61 for August to -2.57 for September, mainly on steep fall in industrial production [1].
US consumer confidence falls to its lowest point since first measured in 1967.
US output falls - by 0.3% between second and third quarters of 2008 [2]
US interest rate reduced - a 0.5 percentage point cut in the Federal Reserve Bank's benchmark rate to 1.0%.
Credit crunch eases slightly in late October - after steep rises in September[3] [4].
The oil price falls. (October US light $67/barrel, down fron July $147 peak)[5].
UK output falls - by 0.5% between second and third quarters of 2008 [6].
Crises in Iceland, Hungary and Ukraine - to be tackled by loans from the International Monetary Fund
Forecasts and outturns
- Annual percentage growth in Gross Domestic Product
- (forecasts are shown in italics)
Date Source Country 2007 2008 2009 2010 2011 02 October 2008 International Monetary Fund [7]. United States 2.0 1.6 0.1 United Kingdom 3.0 1.0 -0.1 France 2.2 0.8 0.2 Japan 2.1 0.7 0.5 China 12 10 9 World 5.0 3.9 3.0 08 October 2008 Conference Board [8] United States 2.0 1.7 0.0 18 October 2008 Item Club [9] United Kingdom 3.0 1.0 -1.0 1.0 2.9