A flood of data this week will paint a mixed picture of the global economy, with belt-tightening continuing to dampen activity in the euro zone, but accommodative policies helping to stimulate growth in Japan.
Reports from the US
An anemic recovery in the US, a technical recession in the UK, a struggling Europe, a suffering Japan and a sluggish performance in emerging markets count among the global markets outlook for 2013, said an expert.
The issues facin
The euro zone has stepped back from the brink of disaster for now, but the global economy could soon be staring into another abyss if US politicians fail to head off $600 billion in automatic austerity that all but guarantees a
The Jordanian cabinet approved an austerity package that includes plans to raise taxes on banks and mining firms but avoids controversial fuel and electricity price rises to hold down the rise in the budget deficit, officials said on Sunday.
Drugmakers are counting the cost of the deepening euro zone crisis, with further austerity-driven price cuts expected in important European markets, including Italy and France, said experts.
Growing alarm at multiple government-imposed cut
German Finance Minister Wolfgang Schaeuble said the global economy may see "seven lean years" as a result of needed fiscal consolidation programmes, even as top US economists questioned the effectiveness of austerity measures.
In a speech
Britain will take an axe to its welfare state on Wednesday as part of an 80 billion-pound ($125 billion) cut in public spending that could seal the fate of both the economy and the coalition government.
After months of bitter negotiations,
The Greek government has agreed a package of austerity measures with the European Union and International Monetary Fund (IMF) that will free up billions of euros in aid, a senior government official said on Sunday.
'We agreed on the de