The British annual consumer prices inflation was 2.3% in the year to April, down from 2.9% in the year to March, falling closer to the 2% target set by the government which most commentators had been expecting as utility bills were cut to reflect falling oil prices.
Although Latinamerica is well prepared to confront the international economic crisis, the economies of the region will suffer on average a contraction of 1.5% this year, said the International Monetary Fund main advisor for the hemisphere Miguela Sabastano.
Behind the idea that the current economic crisis will be over by 2010 are the interests of the financial sector that are trying their most to avoid a greater regulation of markets claims British Professor Robert Wade.
Brazilian president Lula da Silva arrived Monday in Beijing with a delegation of 240 businessmen for a three-day visit aimed at strengthening the country’s strategic partnership with China.
Argentina's industrial production in April plunged 9.1% on the year, economic think tank Orlando J Ferreres & Asociados reported this week. The April drop follows a 9% decline during the first quarter of 2009 and a 5.6% drop during the fourth quarter of 2008, according to the report.
US consumer prices were unchanged in April, but recorded their largest year-on-year drop for more than 50 years, official data showed. Meanwhile producer prices jumped more than expected pushed by the biggest rise in food costs in more than a year.
The southern tip of the Chilean Patagonia provided most of the few bright spots in the Chilean government’s latest Index of Regional Economic Activity (INACER), published this week by the National Statistical Institute.
The economies of the 16 countries of the Euro zone experienced its worst quarterly drop in GDP in the first three months of the year, shedding 2.5% according to a release from the EU statistics agency Eurostat.
China and Brazil should conduct business with each other in their own currencies instead of the dollar, a publication quoted Brazil's president Lula da Silva as saying ahead of his trip to Beijing next week.
General Motors, the US auto giant, has told 1.100 dealerships that they will be closed down as the company struggles to survive amid an economic crisis. The shutdowns are just part of a larger plan to shut 2.600 of its 6.200 dealerships as the car manufacturer makes cuts in an attempt to become profitable again. The move is likely to cause the loss of thousands of jobs across the US.