In The News...
UN in swine flu crisis talks
UN health officials called an emergency meeting to discuss swine flu before the first global flu pandemic in 40 years was declared yesterday.
The World Health Organisation announced the meeting after a steep rise in the number of cases in Australia. Hong Kong yesterday announced it was closing all its nurseries and primary schools for two weeks after 12 students tested positive for the virus. The last global flu pandemic came in 1968 over the Hong Kong flu.
Good week
UK Industrial output rose unexpectedly in April, the first month-on-month climb since February 2008, official figures have shown.
Output rose by 0.3 per cent from the previous month, the UK’s Office for National Statistics said. Analysts had been expecting output to fall by 0.1 per cent. Manufacturing rose 0.2 per cent? in April, which was also an unexpected increase.
Meanwhile, a respected research institute has forecast that the UK economy may be at a turning point.
The National Institute of Economic and Social Research has estimated the UK economy resumed growth in April and May after a sharp decline of 1.9 per cent in the three months to March.
Bad week
Japan The economy shrank less than previously thought in the first three months of the year, but still contracted at a record pace.
Gross domestic product shrank by 3.8 per cent, equivalent to 14.2 per cent over a year. Earlier it was estimated at four per cent, but there have been brighter signs in recent weeks. Japan has been hit hard by the global crisis.
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