Morocco Q1 GDP growth slows to 1.9 pct year-on-year

(Reuters) - A slump in agriculture meant Morocco's gross domestic product (GDP) growth slowed to 1.9 percent in the first quarter from 6.7 percent a year earlier, the country's High Planning Commission said on Monday.

Farm production fell by 18 percent in the first three months of 2007 compared to the same period a year earlier, the HCP said in a statement on its Web site, while non-agricultural growth was 4.7 percent.


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First-quarter growth weakest in 4 years

(Reuters) - It was the weakest quarterly expansion in gross domestic product, or GDP, since 2002. The slowdown came as businesses sold off inventories, though consumer spending remained strong.




However, the report's inflation gauge, the Personal Consumption Expenditures price index, showed price pressures were stronger than expected.


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UPDATE 1-Brazil April current account widens, FDI jumps

(Reuters) - The surplus was higher than the $1.5 billion median
forecast of 21 economists surveyed by Reuters. The forecasts
ranged from $1.2 billion to $2 billion.




In the 12 months through April, the current account surplus
was equivalent to 1.37 percent of gross domestic product,
compared with 1.23 percent of GDP in the 12 months through
March.


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UPDATE 3-Brazil's economy grows slower in 1st quarter

(Reuters) - Gross domestic product expanded 4.3 percent in the first
quarter of this year when compared with the first quarter of
2006 , the national statistics agency IBGE said.




The economy was expected to have grown 1.1 percent from the
fourth quarter of 2006 and 4.5 percent from the first quarter
of 2006, according to median estimates in a Reuters survey.


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Blue Chip forecasts slowed consumer spending this year

(Reuters) - Economists surveyed in the closely watched Blue Chip
economic forecast downgraded their expectations for GDP growth
in 2007 on a year-over-year basis to 2.1 percent from their
forecast a month ago of 2.2 percent.




Slowed consumer spending, said the economists who were
surveyed last week, will be the main factor behind slower
growth, as well as continued troubles in the housing and
subprime mortgage markets.


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First-quarter growth weak, future looks brighter

(Reuters) - Nevertheless, some key components of the report showed continuing resilience that may foster a healthier pace of expansion later in the year, while a Midwest manufacturing index pointed to a revival in factory activity in May.




The Commerce Department revised down its estimate for first-quarter expansion in gross domestic product, or GDP, to a 0.6 percent annual rate from the 1.3 percent that it estimated a month ago.


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Gold rebounds but stuck in range ahead of US data

(Reuters) - Gold gained on short-overing on Thursday but was likely to trade in a tight range as investors awaited the release of U.S. data, which may cool expectations of interest rates cuts.

The market is waiting for Thursday's revision of U.S. first-quarter GDP figures and Friday's Labor Department May employment report after the U.S. dollar rose following the release of the Federal Reserve's policy minutes.


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Gold rebounds but stuck in range ahead of U.S. data

(Reuters) - The market is waiting for Thursday's revision of U.S. first-quarter GDP figures and Friday's Labor Department May employment report after the U.S. dollar rose following the release of the Federal Reserve's policy minutes.




"Everything is up to the Fed," said Darren Heathcote of Investec Australia in Sydney.


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