Economy News
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Economy in U.S. Grows Less-Than-Forecast 1.8% as Government Spending Drops
The U.S. economy slowed more than forecast in the first quarter as government spending declined by the most since 1983 and household purchases cooled.
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Shirakawa Bets Japan to Revive Without More Stimulus After ‘Drastic’ Slide
The Bank of Japan raised its growth forecast for next year on optimism the economy will bounce back on reconstruction work and restored power supplies after factory output dropped by a record in March.
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Germany’s Retail Sales Decline as Faster Inflation Erodes Purchasing Power
German retail sales fell for a second month in March as inflation accelerated, eroding household purchasing power.
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Spain to Pass Plan on Underground Employment to Help Budget
Spain will unveil a crackdown on underground employment as the government seeks to shrink one of the region’s largest shadow economies, bolster tax revenue and reduce the Europe Union’s highest jobless rate .
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