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There have been concerns that Australia's resources-led boom may be hurt by falling demand due to a slowdown in global growth.

ere have been concerns that Australia's resources-led boom may be hurt by falling

ave been concerns that Australia's resources-led boom may be hurt by falling

There have been concerns that Australia's resources-led boom may be hurt by falling demand due to a slowdown in global growth.

In China, one of the biggest markets for Australian commodity exports, both the manufacturing and non-manufacturing sectors have seen the pace of growth slow in May, raising concerns about a slowdown in its economy.

Meanwhile there have been fears about the recovery in the US economy losing its pace after it reported weaker-than-expected jobs data for May.

However, there has been a slew of weak economic data that has come out since then.

accommodative stance

The country's housing market has seen prices fall and continues to remain subdued despite earlier cuts to the cost of borrowing

Government spending also fell

particularly large drop in military outlays.

Many economists pointed out that consumer spending, mostly on cars and other large items, seemed to have come at a cost. Consumer savings declined.

decline in business investment.

Businesses spent more on equipment and software but much less on infrastructure.

decline in investment in

construction related to mining, oil and gas

series of external shocks, like a spike in gas prices (this year’s was less severe and is already subsiding) and the Ja

panese earthquake.

where many countries are already in recession and where this week Britain announced that it had entered the dreaded “double dip.”

slowing of China’s breakneck

Shipments of durable goods increased last month, but new orders showed the steepest drop since January 2009.

unemployment benefits have risen.

1.9 percent in the first quarter, instead of the 2.2 percent pace initially estimated last month.

Fresh jobs indicators for May on Thursday suggested that second-quarter economic conditions would do little to spur recovery in the sick labor market.

It was the first deceleration in a year, but it was not nearly as severe as other setbacks in the last couple of years.

Mitt Romney

insisting that the president has held back the recovery and intends to do further damage.

White House focused on

solid growth in consumer spending and a surge in residential building.

the private sector is continuing to heal from the financial crisis,” said Alan Krueger, chairman of the president’s Council of Economic Advisers.

subsidize the employment of teachers and first responders to emergencies.

Economists initially predicted a much weaker showing in the latest quarter, partly because of a large accumulation of inventories in the fall and winter that needed to be worked off. But in the last few weeks, expectations rose on strong jobs reports and rising consumer confidence.

Consumer spending did turn out to be the major strength

Business investment, which had been a bright spot, declined in the most recent quarter.

Government spending also fell more than anticipated,

thanks in part to a particularly large drop in military outlays.

Consumer savings declined.

decline in business investment.

Businesses spent more on equipment and software but much less on infrastructure.

in construction related to mining, oil and gas, while manufacturers actually increased their spending on factories and office buildings.

another significant slowdown, saying that last year’s hiccup was the result of a series of external shocks, like a spike in gas prices (this year’s was less severe and is already subsiding) and the Japanese earthquake.

Stagnation in Europe and a slowing of China’s breakneck expansion have weakened global demand even as corporate profits have continued to outpace expectations.

the nation’s employers added the fewest jobs in a year and the unemployment rate actually rose,

serious vulnerability for President Obama as he faces re-election

The unemployment rate rose to 8.2 percent in May from 8.1 in April, though largely because more people began looking for work.

another recession.

The report on American jobs added to the global pall that has deepened with Europe’s debt crisis and slowing growth in China and India.

Yields on United States and German government bonds also slumped as investors bid up the bonds’ prices looking for safety.

The underlying pace of the domestic economy is a slog, driven by manufacturing and restrained by slackening global demand.

“Manufacturers are very concerned about Europe because a blowup in Europe means a global slowdown,”

diverse,

Obama’s economic policies.

The May jobs report showed gains in health care, transportation and warehousing, and wholesale trade, while construction jobs fell by a seasonally adjusted 28,000. Even some bright spots, like booming auto sales, failed to meet expectations or to bolster manufacturing employment by much — only 12,000 jobs.

Consumer prices grew by 3.6% in March from a year earlier, up from 3.2% in February. Analysts had forecast an increase of 3.3%.

set a target of 4% for 2012.

central bank to hold back on monetary policy easing for now.

stronger-than-expected inflation could slow down the pace of monetary policy relaxin

China's economy grew by 8.9% in the three months

slowest pace of growth in more than two years.

slowing demand for its exports

markets such as the US and eurozone.

China's central bank has been easing its monetary policy in recent months.

sustain its pace of growth

cut the amount of money banks must keep in reserve

boost

sustain economic growth

speculation that the central bank may cut the cost of borrowing in a further attempt to boost growth.

money at low rates may push consumer prices higher.

Last week, Indian state-run oil firms announced the sharpest jump in petrol prices in nearly a decade to offset growing losses caused by subsidised rates

Once taxes are included, the price increase of Rs6.28 (11 US cents) per litre will result in a Rs7.5-rupee rise for consumers in cities such as Delhi

stagnation in coal output growth

environment clearances

supply shortfall

educed electricity generation

ndia's 200-gigawatt electricity generation capacity is coal-based,

increased supply of coal

economic growth

The government earlier this year directed Coal India to sign pacts with the utilities that became operational after April 2009,

as was the case in the previous supply pacts.

14 power producers out of a total of about 40 utilities that are likely to sign pacts.

China's slowdown and a rising yen for the expected fall.

As Japan continues to recover from a devastating earthquake and tsunami last year, the ministry said industrial production continued to improve.

Industries that contributed to the slight rise in output included transport, chemicals and electrical machinery.

"More crucial is final demand in China,

, demand from China would be the determining factor for continued growth

0.4% in first three months of this year, after shrinking by 0.3% in the final quarter of last year.

Spanish retail sales were down 3.7% in March from the same point a year ago, the 21st month in row sales have fallen.

The rate has risen sharply since April 2007, when it stood at 7.9%.

The new government has announced reforms to the labour market, including cutting back on severance pay and restricting i

nflation-linked salary increases, that it hopes will ease the problem.

The government has also introduced drastic spending cuts designed to reduce its debt levels and meet deficit targets agreed with the European Union. These cuts are contributing to Spain's economic contraction.

S&P predicts the Spanish economy will shrink by 1.5% this year, having previously forecast 0.3% growth.

"We believe that the new government has been front-loading and implementing a comprehensive set of structural reforms, which should support economic growth over the longer term," S&P said. "In particular, authorities have implemented a comprehensive reform of the Spanish labour market, which we believe could significantly reduce many of the existing structural rigidities and improve the flexibility in wage setting."