Brown Defends Deficit Reduction Plan

Wall Street JournalLONDON — The U.K.’s deficit reduction plan is more “detailed” than those of most other countries, British Prime Minister Gordon Brown said Friday.Speaking at a press conference at the end of a European Council meeting in Brussels, Mr. Brown said he believes the markets understand that the U.K. must get the economy back to growth, as well as drive down its deficit over time.”I… Read more

China’s Consumer Prices Rise 0.6% Amid Recovery

Wall Street JournalBEIJING — China is moving out of deflation after nearly a year of falling consumer prices, a turnaround driven in part by changes in government policies that kept costs of oil, water and electricity artificially low.China’s consumer price index climbed 0.6% from a year earlier in November, the National Bureau of Statistics said Friday, after declining every month since… Read more

Japan to Consider Revamping GDP Survey Methods, Government Says

BloombergDec. 10 (Bloomberg) — Japan’s government said it may change its calculation method for gross domestic product, a day after revised figures showed the economy grew at a third of the pace initially projected.Japan’s economy expanded an annual 1.3 percent in the third quarter, a Cabinet Office report showed yesterday, compared with 4.8 percent figure announced on Nov. 16. The cut was… Read more

Australian, New Zealand Dollars Strengthen on Job Gains, Outlook for Rates

BloombergDec. 10 (Bloomberg) — Australia’s dollar gained for a second day after a report showed employers added more than six times the number of jobs forecast by economists. New Zealand’s currency advanced on prospects for higher interest rates.The so-called Aussie rose after the statistics bureau said employers increased jobs for the third month in November, unexpectedly pushing down the… Read more