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2014-06-29 20:05:00

GLOBAL ECONOMY WEEK AHEAD

GLOBAL ECONOMY WEEK AHEAD

The United States can firmly consign its weather-beaten start to the year to history this week with June vehicle sales and jobs data expected to show a strong end to the second quarter.

The U.S. economy contracted at a 2.9 percent annual rate, the sharpest decline in five years, in the Jan-March period, figures showed last Wednesday.

An exceptionally bitter winter, the expiration of long-term unemployment benefits and a marked slowdown in restocking by businesses combined to drag down the world's largest economy, but these factors should have faded by April.

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Tags: GLOBAL, ECONOMY, OIL
Chronicle:
GLOBAL ECONOMY WEEK AHEAD
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OIL PRICE: NEAR $35 ANEW
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