Determined on Growth
Economic data pointed to a rocky road ahead, even if regulators manage to get to grips with the financial crisis.
 A passer-by walks past an electronic stock board in downtown Tokyo, Japan, Tuesday, Oct. 28, 2008. [Agencies] |
In Japan, industrial output rose 1.2 percent in September, beating forecasts, but the Ministry of Economy, Trade and Industry predicted a significant fall in core manufacturing output in October and November.
US consumer confidence plunged in October to the lowest in the 40-year history of the survey, and economists expect US gross domestic product figures on Thursday to show a 0.5 percent decline in July-September.
British finance minister Alistair Darling urged governments to work zealously to support their economies as they have to combat a collapse of the world's financial system.
"Three weeks ago, we worked with other countries to put in place a plan to stabilise the banking system," Darling said in extracts from a speech he is to deliver later on Wednesday.
"And today we need the same determination to support the wider economy, to ensure that fiscal policy supports monetary policy, here and across the world, in these exceptional circumstances."
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