TODAY’S TOP ARTICLES – 23 OCT 2014

Spain: Spanish Unemployment Drops to Lowest Since 2011 as Economy Grows
Spain’s unemployment rate fell to the lowest level since the end of 2011 in the third quarter as its economy turned into one of the fastest-growing in the euro region. (Source: Bloomberg)

Russia: Russia’s Economy Stalls Amid Western Sanctions, Oil Price Drop
Recent economic data suggest that the Russian economy stalled in the third quarter, battered by Western sanctions and falling oil prices. In addition, inflation in October hit levels not seen in several months and the outlook appears dim, because officials said the surge in inflation is likely to force the central bank to further increase interest rates in the coming months (Source: Nasdaq).

New Zealand: N.Z. Inflation Slows, Gives RBNZ Scope to Prolong Rate Pause
In the third quarter, New Zealand’s inflation slowed more than expected, which will provide the Reserve Bank of New Zealand more scope to keep interest rates unchanged for a prolongued period (Source: Bloomberg)

South Africa: South Africa to Sacrifice Growth to Avoid a ‘Debt Trap’
South African Finance Minister Nhlanhla Nene has projected South Africa’s economy to grow 1.4% this year, which is down from the previous 2.7% estimate. The Minister cited a cut in public expenditure in order to pay debt. The Minister stated that the economy is expected to gradually recover, with growth picking up to around 3.0% in 2016 (Source: Bloomberg)

Eurozone: Eurozone Businesses Grow at Faster Pace in October
The Euro area’s Markit PMI rose to 52.2 in October, signaling expansion among businesses. Nevertheless, increased skepticism about the future and falling new orders suggest that business performance may moderate going forward. (Source: Finanz und Wirtschaft; Language: German)

For the latest economic indicators from around the world, please visit us at Focus-Economics.com.

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