Bad news from Britain threaten Dow Jones Industrial Average

Dow Jones Industrial Average opened in the green zone

In brief: Dow Jones Industrial Average continues to grow, despite the negative news from the UK and Asia.

Dow Jones Industrial began trading on the U.S. stock market in the green zone. The level of support for the Dow Jones Industrial grows from the side. Dow index was 10,462.58 points and rose +20.17 (0.19%) at one time. Analysts were convinced that the Dow index fell in early trading due to bad data from the UK: the British Treasury believes that the growth of the British economy in 2010-2011. will be slower than predicted Labour government, who resigned in May.

According to the presentation of “emergency” budget finance minister George Osborne, the growth of GDP in the current year is expected to reach 1.2% – instead of the previous assessment in 1.25% growth. In 2011. British economy will grow at a rate of 2,3% and not 3.25% as forecasted Labor government. We should recall, that in April 2010. Alistair Darling, the then finance minister, introducing the draft state budget, announced that the Government provides it the following projections for economic growth: 1-1,5% in 2010. and 3-3,5% in 2011. Note also that the macroeconomic forecast, announced today Dzh.Osbornom even more pessimistic than estimates of the Office of the Fiscal Responsibility UK (Office for Budget Responsibility, OBR), released last week. Jun. 14 Office stated that in 2010. British economy will grow by 1,3%, and in 2011. – 2,6%. Nevertheless, the coalition government of Great Britain hopes that a couple of years the country will go almost 3 per cent level of economic growth. In 2012. British economy should grow by 2,8%, in 2013. – 2,9%, announced Dzh.Osborn in the British Parliament.

Ukrainian Globalist
2010-06-22 13:47, Economics.

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