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GDP

USA
Stimulus package created up to 1.1 million jobs
A 800 billion dollar US stimulus package implemented earlier this year is proving fruitful, according to a White House report, with more than a million jobs created and expectations of a three percentage point increase in GDP in the third quarter.
USA
Washington optimistic after encouraging output results
In the second quarter of 2009 the US drop in GDP was 1 percent, better than previous forecasts of a 1.5 percent contraction. The result further increases hopes that the US economy is showing signs of recovery.
USA
White House says national debt to double over next decade
The Obama administration has warned that the total budget deficit over the next ten years could stretch to a massive 9.5 trillion dollars, despite trimming the deficit forecast for 2009 by $260 million.
ECONOMIC CRISIS
France and Germany pull out of recession
After four consecutive months of contraction, both the French and German economies grew by an unexpected 0.3% in the second quarter, raising hopes of an early exit from the recession in Europe.
CHINA
Economy bounces back with 7.9 percent quarterly growth
China is back on track to achieve growth of 8 percent in 2009, after the government said on Thursday that the economy grew 7.9 percent in the second quarter of the year, fuelled by a government bailout package.
RECESSION
US economy shrinks at slower pace in first quarter
The US economy shrank at an annualised rate of 5.5% in the first three months of 2009, a slight improvement on the previous quarter, though a rise in applications for unemployment benefits underscored continued weakness in the economy.
ECONOMIC CRISIS
Developing countries' growth to slow down, says World Bank
The World Bank has revised downward its prediction for economic growth in developing countries to 1.2% from a March forecast of 2%. When China and India are excluded, a 1.6% drop in output is expected.
RECESSION
Japan suffers historic fall in GDP
It was better than expected, but the worst since World War II: the Japanese GDP contracted 14.2 % in the first quarter compared to last year. Analysts had forecast an even sharper fall of 15.2 %.
ECONOMIC CRISIS
Australia reverses GDP slide, skirting recession
Australia beat expectations by avoiding recession. The country posted 0.4% GDP growth for the quarter ending in March, according to official data.
ECONOMIC CRISIS
Now it's Switzerland's turn to enter recession
Switzerland posted a 0.8% drop in its GDP in the first quarter after it had shrunk 0.3% in the last quarter of 2008, according to government data, meaning the country has officially entered a recession.
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