U.S. Economy Grows 2.8%, Less Than Forecast

Restrained spending by consumers held growth in the U.S. economy to a 2.8% annual pace in the fourth quarter, slower than economists forecast while still the fastest pace in more than a year.

Gross domestic product, the value of all goods and services produced, climbed at a 2.8 percent annual pace following a 1.8 percent gain in the prior quarter, Commerce Department figures showed today in Washington.

The median forecast of 79 economists surveyed a 3 percent increase.

Growth excluding a jump in inventories was 0.8 percent.

U.K. Moves Closer to Recession as GDP Falls

The U.K. economy shrank more than economists forecast in the fourth quarter as manufacturers cut output and services stagnated, leaving Britain on the brink of another recession.

Gross domestic product fell 0.2 percent from the third quarter, when it increased 0.6 percent, the Office for National Statistics said in London today.

The median forecast of 33 forecasts in survey was for a drop of 0.1 percent.

Public-sector strikes over pensions on Nov. 30 had “some impact” on GDP in the quarter, the statistics office said.

Slowing China GDP Boosts Scope for Easing

China’s economy expanded at the slowest pace in 10 quarters as Europe’s debt crisis curbed export demand and the property market weakened, sustaining pressure on Premier Wen Jiabao to ease monetary policy.

Gross domestic product rose 8.9 percent in the fourth quarter from a year earlier, the statistics bureau said in Beijing today. Growth exceeded the 8.7 percent median of 26 estimates in a Bloomberg survey, staying above the 8 percent that signals a “soft landing” for China, according to SinoPac Financial Holdings Co., which correctly predicted the GDP number.

EMERGING MARKETS-Stocks at 2-month high on China; forint recovers

Emerging stocks leapt 2 percent to their highest in two months on Tuesday as better-than-expected Chinese growth numbers and a record rise in German economic sentiment revived risk appetite.

South Africa’s All-share index hit an all-time high while Hungary’s forint reversed a two-session loss, despite expectations that the European Commission will soon launch legal action against Budapest over its policies to curb the independence of its media, judiciary and central bank.

Pakistan’s GDP growth target for FY10/11 at 2.4pc

Pakistan’s finance ministry said the country’s economic growth target had been revised to 2.4 percent for fiscal year 2010/11 (July-June), compared with an original target of 4.5 percent.

The GDP growth target was dropped to 2.5 percent following the summer floods of 2010, which caused about $10 billion in damages.

The new figure was published after a meeting of the Monetary and Fiscal Coordination Board, which also included the country’s finance minister and the governor of the State Bank of Pakistan.

From: Brecorder

Foreign institutions hide clients identity

Zafar Moti Chief Executive Officer of Zafar Moti Capital Securities in an interview with The News said that foreign institutions have refused to provide Universal Identification Numbers (UINs) of their clients which is a huge discrimination between Pakistani clients and foreign clients.

This attitude should be changed and same treatment should be given to all, Zafar said.

He said it is obligatory for us to provide the complete information of our clients it should be compulsory for the foreign institutions to provide the details of their clients. Zafar minced no words in saying that authorities always are interested in facilitating the foreign investors interests but local investors interests are not catered to.

Stock Basics: The Bulls, The Bears and The Farm

In the Stock Market, the bulls and bears are in a constant struggle. If you haven’t heard of these terms already, you undoubtedly will as you begin to invest.

The Bulls
A bull market is when everything in the economy is great, people are finding jobs, GDP is growing, and stocks are rising. Things are just plain rosy! Picking stocks during a bull market is easier because everything is going up. Bull markets cannot last forever though, and sometimes they can lead to dangerous situations if stocks become overvalued. If a person is optimistic, believing that stocks will go up, he or she is called a “bull” and said to have a “bullish outlook.”