Weekly Economic Highlights

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· U.S. crude oil futures ended higher on signs of economic strength, fears over Iranian supplies and hopes Greece will secure a bailout by next week.

· The U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

· The U.S. housing starts rose more than expected in January as groundbreaking on rental property surged.

· Economic output in the Euro-zone fell 0.3 percent in the fourth quarter from the third, as expected by economists in a Reuters poll.

· The Industrial production in the 17 countries sharing the Euro fell 1.1 percent in December from November.

· Greece’s cabinet approved a final set of austerity measures sought by the EU and IMF as a condition for a EUR130bn (USD171bn) rescue package.

· German analyst and investor sentiment rose more than expected in February to its highest since April.

· German gross domestic product shrank 0.2 percent in the fourth quarter, its first contraction since the height of the financial crisis in 2009.

· British retail sales soared unexpectedly in January at the fastest pace since April 2011, as consumers splashed out on furniture and sports goods.

· The Bank of Japan eased its policy by boosting asset purchases and defined 1 percent consumer inflation as a near-term goal.

· Average annual home price inflation in China’s 70 major cities eased sharply to 0.5 percent in January from December’s 1.4 percent.

· Indian wholesale price index (WPI) rose a slower-than-expected 6.55 percent in January from a year earlier.

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