Philippines economy slows sharply in third quarter

Growth in the Philippine economy slowed sharply in the third quarter due to weaker growth in all sectors, the government said.

UK economy grew 0.9% in second quarter, says ONS

UK economic growth has been revised up to 0.9% for the second quarter of the year by the Office for National Statistics (ONS), compared with a previous estimate of 0.8%. UK GDP was 3.2% higher in the second quarter compared with a year earlier.

Ireland's economy fastest growing in European Union

Ireland's economy has surged 7.7% in a year, according to official figures that appear to show the former Tiger economy has rediscovered its vigour.

Spanish economy posts third straight quarter of growth

(Reuters) - The Spanish economy grew between January and March, buoyed by recovering domestic demand and marking the third quarter of growth as the country shakes off a long-running recession, data showed on Thursday.

India interim budget: Indirect taxes on cars cut

India's Finance Minister Palaniappan Chidambaram has cut indirect taxes on cars and mobile phones in an attempt to boost economic growth.

Australia growth rate falls short of forecasts

Australia has reported weaker-than-expected growth for the July-to-September quarter partly due to slower domestic demand.

Euro-Zone Manufacturing Shrinks in December

Activity among euro-zone manufacturers shrank further in December, a gauge of activity showed Wednesday, as factories across the currency area's biggest economies cut back on their output.

IMF tells Europe to deliver on Irish bailout, cuts growth

DUBLIN: The success of Ireland's international bailout hinges on it getting more European support and there being economic recovery externally, the International Monetary Fund (IMF) said on Monday as it cut its growth forecast for Ireland for next year.

Italy's economy to shrink at least 2.4% this year

ROME: Italy's economy will contract by 2.4 percent or more this year, the head of the employers federation Giorgio Squinzi said on Thursday, doubling the official government forecast of a 1.2 percent shrinkage.

Countries face spike in borrowing costs, warns OECD

Governments face a dangerous spike in borrowing costs in the coming years because rates charged are being kept artificially low while crisis measures are in place, the Organisation for Economic Co-operation and Development (OECD) has warned.

Iran's economy to grow despite sanctions: Ahmadinejad

President Mahmoud Ahmadinejad predicted on Wednesday that Iran's economy would grow eight percent over the next 12 months despite severe Western sanctions, as he presented his government's annual budget to parliament.