GDP

EUROPE

Ireland's GDP contracted 1.2% in the second quarter, according to an initial estimate released today, confounding analysts' expectations of 0.5% growth.

The US central bank has decided not to take further action to rejuvenate the country's economy but hinted it may do more later if needed.

The CBI predicts the UK economy will grow at a slightly faster rate than expected in 2010, but growth will be more ‘sluggish' than previously thought in 2011 thanks to the emergency budget.

COMMENT

Bank stocks rally post-Basel III was symptom of short-term relief, but may not be sustainable

RISK STRATEGIES

Investors should not surrender to gloomy predictions when it comes to the UK stock market.

The European Commission has revised GDP forecasts for the UK slightly upwards, while the EU as a whole has also seen its figure boosted.

COMMENT