- The UK’s Q3 GDP rose 0.8 percent from the previous quarter and increased 3.3 percent on an annual basis. The country’s unemployment rate for June through August remained at 5.4 percent compared to the previous threemonth period and fell 0.2 percent compared to the same three months in 2006.
- Germany’s August unemployment fell 0.1 percent from the previous month to 6.1 percent, a drop of 2.1 percent compared to August 2006.
- The INSEE, the French government agency responsible for economic releases in the country, has temporarily stopped publishing its unemployment report, saying the usual calculation methods “were no longer suitable, because of the sharply divergent changes in the two information sources from which the series were compiled.” Nonetheless, the INSEE’s October 2007 economic analysis report stated “the French economy is projected to create nearly 340,000 new jobs in 2007.” The group predicted economic growth of 0.7 percent in Q3 and 0.5 percent in Q4, despite a weaker global economic environment.
- Russia’s third-quarter GDP grew 7.4 percent on an annual basis, an increase from the 6.6-percent growth the country enjoyed for the same period in 2006. Russian economists have forecast a yearly GDP growth of 6.5 percent, although the country is ahead of that projection.
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