Mexico’s average GDP growth for the last five years stands at 1.82%. Unless the low-growth trend is reversed Mexico’s per capita income will be around $8,400 in 15 years according to Jose Luis Calva Tellez of the Economic Research Institute of UNAM. This is less than the $10,000 threshold for underdevelopment. Poverty afflicts 40% of Mexicans.
Poland's unemployment rate may fall to 15.2% at the end of August, deputy Labour Minister Bogdan Socha said. According to the Labour Ministry the unemployment rate in July declined to 15.7%, down from 16% in June.
Singapore’s Prime Minister Lee Hsien Loong said that GDP growth for the first half of 2006 was 9.4%. In view of higher-than-expected first-half growth, the government's target for 2006 has been revised upwards to between 6.5% and 7.5%.
South Korean household’s debt grew by 2.5 trillion won during July, the lowest level of growth in the past six months, raising concerns of a probable slowdown in domestic demand. Mortgage loans during July gained 2.3 trillion won, compared to 2.2 trillion won in June. Corporate loans grew by 2 trillion won compared to 3 trillion won in June. The Bank of Korea, which raised interest rates by 25 basis points today, attributed the slowdown in growth to monsoon rains, which delayed holidays.