Stock market slumped again due to dismal jobs data in the US and new anxieties over the eurozone crisis.
In the US, employment figures haven't risen over the past ten months. The payroll increase in private sector has been offset by the decrease in government employment. The new created jobs in the last two months didn't meet the expectation. Losing confidence in the US economy prospect, firms are unwilling to hire, and more people are forced to work part-time.
Three ways are expected to boost growth and create jobs. First, to cut tax for middle-class Americans; Second, to increase infrastructure investment; And third, to use monetary stimulus, with a possibility of reintroduction of quantitative easing.
At the same time, eurozone crisis is still ongoing. Greek economy is estimated to shrink about one more percent in 2011 than the previous forecast of 3.9%, and Greek government is required to set down its 2012 budget before further talks with a delegation of international officials from the European Union, the International Monetary Fund and the European Central Bank.
Activities in the manufacturing sector in the developed world slowed or dropped last month. This week, synchronised global economic slowdown multiplied, causing a fear of double-dip recession.


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