expectations

China appeared to be in the worst part of its economic cycle at present, as shows the latest data from experts.

As reported Diana Choyleva, director of Lombard Street Research, the industrial output and inflation figures suggest the economy remains "overheated", while inflationary pressures persist. "Given the extent of the monetary stimulus, and the extent of the overheating, the economy, if it hasn't slowed down enough, needs to slow down further." she said.

Forecasted US economic growth for the rest of this year and next was cut again for a third month in a row by a panel of about 50 economists.

Thus far, the latest Blue Chip Economic Indicators report released Thursday reflected the weaker outlook for second-half 2010 growth stemmed from lower anticipations for consumer spending, business investment and private construction.

E*Trade Financial has astonished analysts, having published first quarterly profit for three years. Analysts had previously expected another loss and sending shares up by 7%.  

E*Trade, that was hurt significantly by the US mortgage crisis, posted second quarter net income of $35 million, or 12 cents a share, compared to a net loss of $143 million, or $2.16 a share, in Q2 2009.

Survey, conducted by Dow Jones Newswires, showed India's economy continued its rapid expansion in the latest quarter. The results even exceeded analysts' expectations for growth of 6.3%.

 Thus, nation's GDP surged by 7.9% during the July-to-September period compared to the year-ago quarter, an acceleration from 6.1% rise in the April-June quarter.

 According to the Central Statistical Organization, "significant growth" have also been seen in the mining, manufacturing, construction and energy sectors.

 Former Federal Reserve Chairman Alan Greenspan predicted on Sunday that the jobless rate will pass 10 percent and stay there for a while, and a second stimulus plan is not needed now.

According to the figures US government presented Monday, sales of new single-family homes in the country soared more than it had been expected in June. At the same time, the inventory of homes for sale fell to a more than 11-year low. 

As the Commerce Department reported, sales grew by 11% to an annual rate of 384,000 last month, while the number of new homes still for sale fell to 281,000, the lowest level since February 1998.