Argentina's primary deficit fell to 1.1% of Gross Domestic Product (GDP) between January and September this year, compared to 2.1% over the same period in 2017, the Finance Ministry announced on Monday.
Moody's has cut Italy's credit rating by a notch over concerns about plans for larger deficits and the high public debt load as the country's populist government clashes with Brussels over its budget. The European Commission formally warned Italy late Thursday that its budget plans for 2019 are a serious concern, launching a high-stakes process that could see Rome hit with unprecedented sanctions for breaking commitments to Brussels.
The United Kingdom economy bounced back in July as the services sector rebounded and construction output reached a record high. The Office for National Statistics (ONS) said the economy expanded 0.3% in July, while gross domestic product (GDP) rose 0.6% on a three-month basis.
Chile's gross domestic product grew 5.3% in the second-quarter of 2018 compared with a year earlier, its biggest jump in nearly six years, the central bank said this week.
Argentina’s economy shrank in April for the first time in more than a year, government data showed on Tuesday, while the central bank held its policy rate stable at 40% in the first rate decision since a shakeup in its leadership.
By Mathew Smith<br />
After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. The economy commenced growing again in 2017 with gross domestic product (GDP) expanding by 1 percent and 2018 GDP growth forecast by the International Monetary Fund (IMF) to be 2.3%.
The World Trade Organization Tuesday lowered its global trade forecast, warning that anti-globalization rhetoric and Brexit were pushing trade growth to its slowest pace since the financial crisis. The warning comes as talks on a landmark free trade deal between the European Union and the United States faces stiff opposition and Britain’s EU exit causes jitters.
The International Monetary Fund extended the period given to Argentina to remedy its local statistical measurement tools, while recognizing the country has made advancements in the matter. The IMF directive board met on Wednesday in Washington to assess Argentina's statistical indexes.
The IMF ratified last week that by December 17 Argentina must reply to Managing Director Christine Lagarde on the latest advances referred to the country’s statistics both on inflation and GDP growth.