GDP shows US economy at 3.3 percent

Gross domestic product numbers released on Wednesday by the US Commerce Department show that the economy in the United States grew by 3.3 percent in the second quarter of the year. The figures were considered healthy even though they were below the 3.4 percent growth predicted by the department a month ago. Growth […]

Palestinian economy lies decimated

According to the United Nations Conference on Trade and Development, thePalestinian economy has been decimated by the uprising against Israel that began in 2000, and it says that the separation barrier being built by Israel in the West Bank will erode the economy even further. The UN agency said that the Palestinian economy shrank […]

Peruvians emigrate despite economic recovery

Despite an economic recovery in Peru that has analysts saying could mean 7percent growth in the South American nations economy this year, Peruviancitizens are emigrating at a record pace. In the first half of this year, an average of 1,149 people have left Peru every day to live elsewhere in the world, and some analysts […]

IMF warns of oil risk to global economy

A report in a German newspaper says that a new report from the International Monetary Fund, to be released in the middle of September, will say that rising oil prices are a threat to global economic growth. The report will cite lack of refinery capacity, a problem that has grown worse over the years, […]

Iraq recovery hampered by security concerns

The International Monetary Fund said on Tuesday that the continuing violence in Iraq is holding up the recovery of that nations economy. The IMF said that the comeback of the oil industry there, which accounts for three-fourths of the Iraqi economy, has only grown enough for the gross domestic product to grow by 3.7 […]

Snow visits Brazil for economic summit

In Brazil to promote free enterprise policies, US Secretary of the Treasury John Snow Tuesday called the South American nation a shining example of strong economic performance. On Monday, Mr. Snow said that Brazils economy seemed to be taking events in stride and appeared to be positioned for further growth. He cited Brazils […]

WTO warns Europe on banana tariffs

Acting on a complaint filed by Latin American banana producers, the World Trade Organization on Monday said that the European Union cannot implement a planned tripling of import duties on that fruit. The EU has ten days in which to open new talks on the tariff. If it does not do so, or […]

Mexico sees economy enter stronger period of growth

According to Mexicos finance ministry, the Mexican economy grew by about 4 percent in the second quarter of the year compared to the same period in 2004. This is an improvement over growth in the first quarter, which was just 2.4 percent better than the previous year. The gains came on better consumer […]