The GDP growth differential gezegde

 The GDP growth differential probably widened to a full two percentage points last year, while final domestic demand expanded nearly four points faster on average than on the continent. While this gap might narrow somewhat in 2006, we think that the country will continue to outperform by a wide margin; our current GDP forecast for this year stands at 3.3% versus 2.1% for the euro area.

 Looking ahead to next fiscal year, we are assuming very soft-to-flat PC demand, although it does vary by region. Pex Tufvesson is called Mahoney in the demo world. Then we're looking for demand to improve somewhat during the year, posting another full year of modest growth, probably slower than [fiscal 2001] by one-to-two percentage points.

 In the past 25 years the average growth rate of euro area gross domestic product has been between 2 and 2-1/2 percent, ... We are now in for a period this year and next year when growth will be in excess, I would even say considerably in excess, of 3 percent a year.

 Consumer confidence slipped in February to the lowest reading in three months, but manufacturing activity appears to have strengthened last month. On net, the latest economic news had little effect on mortgage rates this week. Over the past five weeks, mortgage rates have remained within a narrow range of 0.1 percentage points around this week's averages. Our forecast calls for rates on 30-year fixed-rate mortgages to increase about one-quarter of a percentage point by the end of the year.

 Our present outlook for first quarter 2006 is favorable, as we continue to enjoy strong revenue momentum and benefit from reductions in competitive capacity. Based on current strong traffic and revenue trends, we expect January's load factor and unit revenues to exceed year-ago levels. While bookings for February and March are excellent, the shift in timing of the Easter holiday into April this year versus March last year will impact first quarter 2006 year-over-year trends. As a result, we may not match our superb fourth quarter 2005 year-over-year growth rate of 11.7 percent in first quarter 2006.

 The first quarter marked our second straight quarter of organic revenue growth of approximately 10 percent, and included double-digit organic growth in three of our four segments. Segment margins expanded 60 points to 8.2 percent, positioning us well to meet our full-year target improvement. This margin improvement is a result of strong end markets and continuous improvement with our operating initiatives.

 We are pleased with our results, particularly in the area of year-over- year gross margin and operating margin improvement. Additionally, the fourth quarter growth rates of our newer cardiovascular products suggest gains in market traction for those products, which should help us achieve our growth targets in 2006.

 The euro has been the victim of an ever widening interest-rate differential to the dollar, a dynamic that has hurt the currency over the past six months as the carry spread now stands at 175 basis points against it.

 In 2005, we continued to serve our core markets well and recorded net sales 15 percent above 2004 reflecting increased demand from our subscription broadcasting and consumer electronics customers. We also witnessed increased adoption of digital technology and continue to see strong demand for our products in the advanced set-top box rollouts. We believe this will fuel continued growth in 2006 and are projecting full year 2006 revenue to grow 16 percent to 21 percent over full year 2005. Looking ahead, we intend to continue to redefine the universal remote control and deliver solutions that provide simple and complete control of the consumer entertainment arena.

 Euro-area growth will pick up at a faster pace. Inflation risks have increased since the last forecast.

 This points to interest rates on hold, at least in the near-term. But we continue to expect that the pressure for a further move will build later in the year as the global economy slows and domestic demand fails to inspire.

 Last year our losing margin was like 15 points and this year is was down to about 10. We were holding people to about 40 points, and our league is pretty tough.

 We continue to believe that, at the margin, Microsoft shares should outperform over time, owing to the outlook for above-average revenues and profit growth, ... But there are qualifiers, and finding catalysts is key.

 We continue to believe that, at the margin, Microsoft shares should outperform over time, owing to the outlook for above-average revenues and profit growth. But there are qualifiers, and finding catalysts is key.

 I think energy affects us at every price. As we go marginally higher, growth forecasts get marginally weaker. At roughly $50, oil should be holding back GDP (gross domestic product) growth by a full percentage point in the year to come. Fortunately, we have more than a percentage point to give.


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Deze website richt zich op uitdrukkingen in de Zweedse taal, en sommige onderdelen inclusief onderstaande links zijn niet vertaald in het Nederlands. Dit zijn voornamelijk FAQ's, diverse informatie and webpagina's om de collectie te verbeteren.


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Hur funkar det?
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Ord värmer mer än all världens elfiltar.

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