Euro zone rescue fund downgraded by S&P
Standard & Poor’s has cut it’s rating of the Euro zone’s European Financial Stability Facility (EFSF) rescue fund from a AAA to a AA+.
Chinese growth at 8.9%, weakest in 30 months
The National Bureau of Statics has reported that Chinese GDP grew 8.9% in which is slower than expected, and shows that China’s economy expanded at its weakest pace in 30 months.
S&P downgrade France and Austria’s AAA rating
Standard & Poor’s is reportedly poised to downgrade France and Austria’s AAA ratings. According to a report in the Financial Times both countries could find their ratings reduced to AA-.
Italy’s three-year debt falls below 5%
Despite raising the maximum of €4.75 billion, the first bond sale of the year didn’t not achieve market expectations set by Thursday’s Spanish sale which raised €10 billion.
Factory Gate prices drop for first time in 18 months
December saw the first fall in factory gate prices for 18 months, providing hope for customers that the central bank may provide more economic stimulus.
