Monday, August 31, 2009

Economic news while sleeping

In India’s economic growth accelerated for the first time in the past six quarters and clocked a rate of 6.1% for the first three months; the gross domestic product (GDP) suggest that the worst is over for Asia’s third largest economy beating all pessimistic estimates.


Shares declined on Wall Street and prices of copper and crude oil fell after China’s benchmark Shanghai Composite Index slumped 6.7%, stoking concern the Asian economy won’t be strong enough to help underpin a global recovery.

The Dow Jones Industrial Average fell 0.5% to 9496.28 and the Standard & Poor’s 500 declined 0.8% to 1020.62. The Nasdaq Composite fell 1% to 2009.06.


And in Japan, a new government is in place. Its main tasks and challenges;

1.Get the Budget Under Control
2.Find a New Way to Grow the Economy
3.Wrest Power From the Bureaucracy — Gently
4.Buddy Up with the Rest of Asia (ASEAN, China and Korea)


Indeed, it seems the recession is almost behind everyone's back.