Argentine economic activity surged 11.1% in June over a year ago which means GDP in the first seven months of 2010 expanded 9%, according to figures released by the country’s National Statistics Institute, Indec.
Brazil's ruling coalition candidate could adopt austerity measures to balance public accounts if elected president in October and also favours a heavier state hand in the oil and mining industries, her party chief told reporters.
The number of land in the hands of foreigners in Argentina has almost tripled in the last 10 years, a phenomenon that is spreading to areas that are rich in natural resources and that is affecting small towns that are finding themselves enclosed within the domains of large landholders.
Claims for United States jobless benefits jumped to the highest level since November and Philadelphia-area manufacturing shrank for the first time in a year, indicating the US economy may be slowing faster than forecast.
Argentines expect prices to rise 25% over the next twelve months, according to the median estimate in a monthly survey by Buenos Aires-based Torcuato Di Tella University. Expectations in August remained unchanged from last month’s report, the university said in an e-mailed report.
Brazil reported the third straight month of slower job creation in July, reflecting the slowdown of the economy in the second quarter after a massive 9% year-on-year growth in the first quarter of the year. Traders say this increases the likelihood central bank policy makers may leave interest rates unchanged in their next meeting.
China is increasingly looking to its Asian neighbours' currencies to lessen its reliance on the US dollar, both for investment and trade. Slowing the pace at which it amasses US Treasury papers, China has started buying more South Korean and Japanese government bonds.
Where world economy is concerned, August 16, 2010 will go down history as a significant date. On this day, Japan quietly ceded to China the coveted title as the world's second largest economy which it had held for four decades.
Brazil has overtaken Canada and Spain to become the world’s eighth largest economy, relegating Spain to ninth place, Spanish newspaper Expansión reported Wednesday.
Business climate in Latin America reached in July its highest level in a decade according to the joint report from Brazil’s Getulio Vargas Foundation and Germany’s Economic Research Institute (IFO) from the University of Munich.