The U.S. is seen expanding 2.2 percent this year, higher than an earlier forecast, and growing 2.1 percent next year, less than previously predicted. Japan’s estimate was cut to 2.2 percent this year and to 1.2 percent in 2013.
Spain’s economy will shrink 1.3 percent next year, 0.7 percentage point worse than predicted in July. German growth is seen at 0.9 percent each year, with the 2013 estimate half a percentage point less than previously forecast.
Activity in the construction sector fell by 2.8 percent and factories churned out 1.3 percent fewer intermediate goods, dragging overall output down. Energy output, which rose by 1.5 percent, was the main bright spot.
"The trend in production continues to be quite stable," the ministry said in a statement.
The ESM money would flow to Spain in November, after European Commission competition authorities approve conditions for the recapitalization for each bank.
SPAIN IN FOCUS
Spain is in investors' focus because it has struggled to cut one of the euro zone's largest public deficits as the country sinks deeper into its second recession in three years.
In Luxembourg, euro zone ministers will also discuss a request, expected from Spain sometime in the coming weeks, for a precautionary credit line from the ESM that they hope will boost investor confidence and keep Madrid in the capital markets.
New paintings by the Belgian artist Luc Tuymans inaugurated Zwirner’s 18th-century town house gallery at 24 Grafton Street. It is the New York dealer’s first European location.
“It makes sense for New York galleries to open over here,” Arianne Levene, a London-based art adviser particularly for collectors in the emerging markets, said in an interview. “It is a central point for Asian and Middle Eastern clients.”
Other Google products will likely improve over time with help from the new learning software. The company's image search tools, for example, could become better able to understand what's in a photo without relying on surrounding text. And Google's self-driving cars (see "Look, No Hands") and mobile computer built into a pair of glasses (see "You Will Want Google's Goggles") could benefit from software better able to make sense of more real-world data.
“It’s incredible,” said Loeb, whose title was the 20th drivers’ crown scored by tyre firm Michelin. “We were dreaming about this moment at the start of the rally having lived this two years ago. Now we are here again with the victory and the championship in front of all these wonderful people. It’s not possible to get better than this, it was a dream all weekend in front of all these fans. We couldn’t believe the atmosphere two years ago, it was amazing then and it’s amazing now.”
I don't think anyone has been coming back.
And now that Hamilton is switching to Mercedes, Alonso said the Briton has joined a prestigious list of ex-McLaren drivers who found happiness elsewhere.
"When the rumours started, I said I felt it was good for Lewis to move on and for McLaren, they have experienced this before, with Prost leaving and Senna, then me, now Lewis, normally for a better life," Alonso said at Suzuka.
"I don't think anyone has been coming back," he is quoted by Spanish reporters.
It is part of the single currency area's drive for an overhaul of its economic structures and deeper integration, a discussion that will be taken forward on Monday with talks on an idea to create a single euro-zone budget.
Euro zone finance ministers, who form the ESM's board of governors, will hold their inaugural meeting in Luxembourg two years after EU leaders endorsed the idea of setting up such a permanent institution.
"The ESM will be operational as of Monday," said a euro zone official, linked to the ESM.
That marked a cooldown from the 17.5 percent growth last year during a seven-day holiday. No further details were given,
The Golden Week holiday, when millions of people take time out to travel and spend more than usual, brings huge discounts and promotions as retailers battle for market share.
Economists are watching China's 1.3 billion consumers closely during the National Day Golden week holiday, running from Sept. 30 to Oct. 7, amid escalating worries about China's hard landing.
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Ferrari 458 Challenge on the road! with 4x 599 GTO and 3x F40
Amazing 458 challenge with nice ferrari combos
Milan - Spring Summer 2013 Collections - Paul Smith Blog - Paul Smith
I am in Milan and Paris this week preparing for my men’s Spring Summer 2013 catwalk show on Sunday! Earlier this week I had a cocktail party
Novitec Rosso GmbH - Ferrari Tuning und Veredelung
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