Global Economy, Money & Finance, GDP, Government Finance
The Eurozone sovereign debt crisis is far from over. It will take years, not months, for excessively high government debt-to-GDP ratios to stabilize, much less begin to decline. Eurozone political leaders recently agreed upon a second multilateral assistance package that is designed to give the Greek government a respite when the first tranche is paid in. Subsequent disbursements, however, are subject to reviews by the IMF, which will check on progress in many areas; poor compliance by the Greek government on tax reform or privatization, for example, could derail the program.
The U.S. manufacturing recovery continues on track and should outperform overall GDP growth through 2013, according to the Manufacturers Alliance for Productivity and Innovation (MAPI) U.S. Industrial Outlook (E0-103), a quarterly report that analyzes 27 major industries.
The Federal Reserve reports that industrial production was unchanged in February 2012. There are, however, a lot of good news in the new report. Manufacturing production increased 0.3 percent in February. A 1.2 percent decline in mining activity and flat utility production hid a moderate gain