The government in New Zealand has indicated that it will take steps to increase the housing supply in the country in a move to control the skyrocketing housing prices in the country.

It is the sixth continuous year for Greece to witness recession. The European country's condition is such due to declining business confidence and the country has been surviving on bailout loans from European Union. According to recent reports, it has been revealed that its economy has witnessed a decline of 5.7% in October to December 2012.

A novel report has highlighted that public transportation in the USA has risen by 1.5% to 10.5 billion trips last year. Ridership includes buses, subways and other modes of public transportation.

A recent data has revealed that China has come across a bad start for the Chinese New Year. The data suggests slow lending and retail sales growth. The data is worse since year 2009.

As per recent reports, a decline has been witnessed in the number of unemployment claims made by Americans. The decline was witnessed last week which has indicated about the economic growth.

China fears that Japan's currency devaluation will affect global growth. It has asked Japan to make sure that it abides by its promise in which Japan had said that it will make all the possible measures to avoid devaluation of its currency.