GDP

With emerging economic powerhouse China snapping at its heels, Japan on Thursday said it still remained the second-largest economy in the world, and raised its third quarter gross domestic product growth to 4.5 percent on an annual basis.

In a conference on Wednesday in mid-town Manhattan, The Korea Trade-Investment Promotion Agency (KOTRA) presented reasons why South Korea makes for an attractive investment candidate for foreigners.

Japan’s trade with other nations rose only slightly in October, raising fears of a slowdown in the recovery of the export-dependent country.

Longer-term, the potential impact of the tax cuts upon the stock market and economy remain rather fuzzy, given the multitude of other issues facing investors, including perpetually high unemployment in the U.S., a seemingly never-ending sovereign debt crisis in Europe and constant friction with China over trade and currency.

Tax cuts and increased government spending designed to support and grow the economy are fiscal stimulus measures. President Obama's compromise with the Republicans will give America both.

The Irish government has presented what is likely the toughest austerity budget in its history, comprising spending cuts of 6-billion euros ($8-billion) and an increase in taxes, in addition to other measures already outlines last month in the so-called “National Recovery Plan.”

Olli Rehn said the European Union will conduct a second round of stress test for banks in February 2011.

Economy of California is expected to witness a slight pick up next year with a drop in unemployment rate, said a report on Tuesday.

Emerging East Asian economies will grow more than forecast this year but growth will slow in the region next year, the Asian Development Bank (ADB) said on Tuesday.

Wikileaks revealed that Li Keqiang, a senior Chinese politician with many economic-related duties, doubts the country's economic data.

If the pair consolidates above 1.56 levels, it might help confirm an intermediate short-term upward trend, and in that case, next important target for GBP/USD will be 1.5838 (R2), a medium term support-turned resistance for the pair.

Momentum indicators MACD and RSI on 4-hour chart suggest the pair is in oversold zone and up for a rebound. The first stop up (R1) for USD/JPY could be 83.40 as indicated by 100-day SMA and 23.6 percent Fibonacci and further higher, the pair has resistance near 83.7 (R2), as shown by the 50-day SMA.

The global economic recovery is being led by large metropolitan cities accounting for about half of the global gross domestic product (GDP), said a report.

China will shift monetary policy from the current stance of relatively loose to prudent next year, reported the country's state-controlled media on Friday.

The presidentially appointed commission on the national debt failed today to approve its own plan for tackling the nation’s long-term fiscal problems, but several members called it a victory nonetheless.

The poor jobs data will push Congress to extend both the unemployment insurance benefits and all of the Bush tax cuts, according to Diane Swonk, chief economist at Mesirow Financial.

November's jobs data was shockingly bad and casts doubt on the optimism generated by upbeat economic reports from recent weeks.

The unemployment rate in the U.S. surprisingly edged up in November after remaining constant for three months, the U.S. Labor Department reported on Friday.

Brazil's Central Bank raised reserve requirements on bank deposits in order to slow down consumer lending and prevent the potential risk of asset price bubbles in the country’s surging economy.

Economic growth in India will overtake that of China in the next ten years, boosted by huge domestic demand, said noted global economist Nouriel Roubini.

In an Interview with IBTimes, Srinivas Thiruvadanthai explores the concept of balance sheet recessions and other factors that make the Great Recession so severe.