July 26, 2014

• U.K. overcomes record slump with 0.8% quarterly growth
• GDP ▲0.8% in the 2^nd Q, highest since 1^st Q, 2008.
• GDP was 3.1%▲ in Q2 compared a year earlier.
• ▲ in service sector (1% increment) contributed 0.77% to the increase GDP.
• The contribution of industry grouping is Service (77.8%), Production (15.2%), Construction (6.3%) and Agriculture (0.7%)
• Construction output ▼0.5% QoQ, after Q1 2014 ▲ 1.5%, 4.2% YoY
• The index for business and service ▲1.3% QoQ, previously Q1 0.9% QoQ.
• Architectural and engineering activities made the largest contribution to the increase; YoY growth is 4.2%
• Indonesia’s new finance chief
• Suharto’s economic team reinstated bank reserve requirements, raised interest rate, stopped automatic central bank credits to state enterprises, ended subsidies for key consumer goods, abolished quantitative restrictions on imports, and devalued the rupiah to stabilize the economy.