Economic events in the world is always of great attention of people because they have great influence on daily life and even the politic issues. Let's have a look at the most highlighted economic events which happened last week:
In China, the economic scale of Shanghai outweighed Hong Kong in the past 30 years. According to the latest economic report of this country, in 2009 the GDP growth rate of Shanghai city reached 8.2% or 218.3 billion USD. Meanwhile, the total production value of Hong Kong declined to 2.7% or 210.7 billion USD.
Shanghai
In the speech in the National Assembly on March 5th, Chinese Prime Minister, Wen Jiabao, set the target for the economic growth of 8% this year. If China can reach this goal, this nation will continue to hold the position of the second largest economy by 2011. In addition, this government also set a target to control the inflation rate at below 3% this year.
Chinese Assembly
The USA economy continuously illustrated positive performances last week. On March 5th, the USA Federal Reserve or FED reported that the consumption credit increased at 4.96 billion USD in January, 2010, which overcame all of analysts' predictions. Besides that, the retailed sales of goods also increased by 4% in February. According to the Non Farm Payroll report or NFP, the number of jobs cut off was 36,000, which is lower than expected. The unemployment rate also decreased to 9.7% in the USA.
USA Supermarket
USA Federal Reserve
The top insurance group in the USA officially sold AIG subsidiaries in Asia or AIA for Prudential insurance group at 35.5 billion USD. After this great purchase, the new company will become the largest insurance company in Vietnam, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, and Philippines. It is also the largest foreign insurance company in China and India.
AIA Tower
Despite the debt crisis and deficit in the national budget, Greece continued to sell 5 billion euros of bonds on March 4th. The Greek government said that the amount of registration of the purchase is 3 times as great as the expected release.
National bank of Greece
The USA stocks became more positive last week. The S & P 500 index increased at 3.1%, Dow Jones industrial index increased at 2.3%, and the Nasdaq increased at 3.94%.
The USA stocks market
Related links:
1. Event Planning During an Economic Crisis
2. Trade and the Recovery: A Strange Duality
3. A Step Toward Economic Recovery
Most Significant Economic Events in early March 2010