Saturday September 04 , 2010
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G-20 Leaders Responds to European Debt Crisis With Deficit-Cutting Target...

G-20

Advanced G-20 Countries economies will aim to halve deficits by 2013 and start to stabilize their debt-to-output ratios by 2016, the group said in a statement yesterday after a meeting in Toronto Canada. G-20 Leaders said nations can move at their own pace and also pledged to fulfill existing stimulus plans.

G-20 leaders responded to the European debt crisis with deficit-reduction targets and agreed to pursue higher capital requirements for banks once economic recoveries take hold.

 

G-20 May Stress Need to Cut Growing Deficits...

G-20

The G-20 has to bridge a gap between leaders such as German Chancellor Angela Merkel who favor budget cuts and USA President Barack Obama who want to focus on growth.

G-20 leaders are poised to endorse targets to tackle deficits while giving nations flexibility on when to start balancing their books, according to officials with knowledge of drafts of the final statement.

G-20 Leaders will agree today on the need to cut deficits, while urging countries with the most precarious fiscal positions to accelerate their plans, according to the officials who declined to be identified by name because a final version of the statement hasn’t been completed.

   

G.17 Industrial Production...

G-20

G-17 Industrial production increased 0.6 percent in December. The gain primarily resulted from an increase of 5.9 percent in electric and gas utilities due to unseasonably cold weather. Manufacturing production edged down 0.1 percent, while the output of mines rose 0.2 percent. The change in the overall index was revised up in October, but it was revised down in November; for the fourth quarter as a whole, total industrial production increased at an annual rate of 7.0 percent. At 100.3 percent of its 2002 average, output in December was 2.0 percent below its year-earlier level. Capacity utilization for total industry edged up to 72.0 percent in December, a rate 8.9 percentage points below its average for the period from 1972 to 2008.
   

G. 17 Industrial production increased 0.8 percent in November...

G-20

G. 17 Industrial production increased 0.8 percent in November 2009 after having been unchanged in October. Manufacturing production advanced 1.1 percent, with broad-based gains among both durables and non-durables. The output of mines climbed 2.1 percent, but the index for utilities fell 1.8 percent, primarily as a result of lower output of gas utilities--temperatures in November were unseasonably mild and reduced the need for heating. At 99.4 percent of its 2002 average, total industrial production was 5.1 percent below its level of a year earlier. Capacity utilization for total industry moved up 0.7 percentage point to 71.3 percent, a rate 9.6 percentage points below its average for the period from 1972 through 2008.
   

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