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Euro zone PMI rises slightly but still indicates contracting economy

The preliminary reading of the euro-zone purchasing managers' composite output index (PMI) ticked up in December indicating that the downturn in the currency bloc’s  economy has eased. "The euro-zone downturn showed further signs of easing in December, adding to hopes that the outlook for next year is brightening," said Chris Williamson, chief economist at Markit, in the release. "It...

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December 14, 2012 @ 11:20 am

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Pound falls as U.K. risks losing triple-A rating after S&P lowers outlook

The United Kingdom is at risk of losing its prized triple-A credit rating after having its rating outlook cut by Standard and Poor’s on Thursday. The outlook has been lowered to negative from stable.  Meanwhile, Moody's and Fitch already have negative outlooks for Britain. In a statement S&P said that there is now a one-in-three chance that it could cut the AAA rating in the next two...

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December 13, 2012 @ 9:19 pm

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Pound falls as U.K. risks losing triple-A rating after S&P lowers outlook

The United Kingdom is at risk of losing its prized triple-A credit rating after having its rating outlook cut by Standard and Poor’s on Thursday. The outlook has been lowered to negative from stable.  Meanwhile, Moody's and Fitch already have negative outlooks for Britain. In a statement S&P said that there is now a one-in-three chance that it could cut the AAA rating in the next two...

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December 13, 2012 @ 9:19 pm

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UK manufacturing output dips in October, sterling falls

Manufacturing output in the United Kingdom is on the decline, raining fears of a triple dip recession in the country. The Office for National Statistics released data on Friday that showed manufacturing output fell in October at the fastest rate since June, dipping 1.3 percent on the month after a slightly downwardly revised flat reading in September. October’s number was worse than the...

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December 7, 2012 @ 2:08 pm

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