Economy Information

Economy Links:

Philippines cuts rates as economy shrinks in 1Q (AP via Yahoo! Finance)
The Philippine central bank cut interest rates Thursday after the government said the economy shrank 2.3 percent in the first quarter from the previous quarter, its worst contraction in 10 years.

Lithuanian Economy Shrank 13.6%, Third-Deepest Recession in EU (Bloomberg)
May 28 (Bloomberg) -- Lithuania?s economy shrank a revised 13.6 percent annually in the first quarter, the most since at least 1995, when the former communist state was emerging from the collapse of the Soviet Union.

Asia stocks ease on nagging U.S. economy worries (Reuters via Yahoo! News)
Asian shares retreated from seven-months highs on Thursday as concerns grew that rising yields on U.S. government debt could push up borrowing costs and choke off a potential recovery in the world's largest economy.

U.S. economy has stepped back from brink: Obama (Reuters via Yahoo! News)
The U.S. economy is showing signs of stabilizing after suffering the worst economic crisis in decades, President Barack Obama said on Wednesday.

Obama: Economy has stepped back from the brink (AP via Yahoo! News)
President Barack Obama says the economy has stepped away from the verge of calamity and Americans are calmer about the future.

Tenaga Cuts Power Demand Forecast on Slumping Economy (Update2) (Bloomberg)
May 28 (Bloomberg) -- Tenaga Nasional Bhd. , Malaysia?s largest power provider, slashed its forecast for electricity demand in the year ending Aug. 31 as the nation?s economy heads for its first recession in a decade.

Obama talks up economy as politics hover nearby (AP via Yahoo! News)
President Barack Obama refocused on the economy Wednesday after devoting several days to his Supreme Court nominee and the sticky issue of what to do with detainees at Guantanamo Bay.

Philippine economy shrinks 2.3 percent in 1Q (AP via Yahoo! Finance)
The Philippine economy shrank a seasonally adjusted 2.3 percent in the first quarter from the previous quarter, its worst contraction in 10 years, the government said Thursday.

Obama touts economy, Sotomayor, at fundraiser (AP via Yahoo! News)
President Barack Obama defended his Supreme Court pick and painted an upbeat vision of the economy Wednesday as he addressed major donors to the Democratic Party in Beverly Hills.

Lithuanian Economy Shrinks 13.6%, Third Most in EU (Update1) (Bloomberg)
May 28 (Bloomberg) -- Lithuania?s economy shrank a revised 13.6 percent annually in the first quarter, the most since at least 1995, and Prime Minister Andrius Kubilius said the recession may be deeper than the government forecast.