Word: economice
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Taking solace where they could, British officials hailed the official end of a recession that began in the second quarter of 2008. Though tiny, the country's fourth-quarter growth ended the nation's most severe economic slide in more than half a century - one responsible for a 6.1% decline...
Despite the billions the government spent on consumer-spending incentives to stimulate industrial output - like implementing cash-for-clunkers subsidies for new car buyers - the schemes didn't lead to massive growth in manufacturing. Industrial production and service-sector activities fared no better than the overall 0.1% growth figure for...
Just as bad, most observers also aren't buying the hopeful government predictions that, however small the fourth-quarter growth was, renewed positive output marks the beginning of a gradual return to normal economic activity. That skepticism applies to the rest of Europe and other parts of the world as...
In France, where fourth-quarter economic growth was estimated to be 0.3%, officials are now doubling their forecasts for 2010 growth from 0.75% to 1.5%, even though no new infusions of government stimulus cash are planned. Similarly, in Germany, an initial prediction of a 1.2% gain for 2010 has been...
Buik worries that the bright outlooks ignore the darker realities of relying on government stimulus money to restore economic growth. "Ultimately, states are going to have to cut spending and raise taxes to pay for what they've already spent," he says. "That means a period of fewer public jobs...