Daily Archives: March 1, 2010

Eurozone and EU-wide unemployment have stayed at their record December highs of 9.9 and 9.5 per cent, respectively.

Looking at the by-country data is instructive. With inflation data released at the end of last week, we thought a Phillips curve might be in order: 

It may be semantic and definitional. It may be highly significant.

Revisions to estimates of Swedish growth in Q3 and Q4 last year show that the country’s economy contracted in both quarters. Both of the revisions are less than a percentage point, and could be within a margin of error. But that would still confirm the fragility of any putative recovery. 

Robin Harding

Japan’s finance minister, Naoto Kan, wants to escape the country’s persistent deflation by the end of the year, according to Reuters.

“Escaping deflation is difficult so we won’t see an immediate improvement such as in several months. But taking two to three years would be too long. Hopefully, we want Japan to see prices turn positive by the end of this year,” Kan told a lower house financial committee.