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Morning briefing: India GDP returns to boom levels

1. Japan responded to criticism that the measures it is taking to try to rein in the yen are insufficient by saying that it's "too early" to judge the outcome. The remarks came as the yen continued to strengthen and Japanese stocks fell. Factory output rose unexpectedly in July for the first time in two months.

2. Inflation in the euro zone slowed in August but unemployment remained high, the European Union's statistics office said.

3. India's economy returned to boom levels before the crisis, growing 8.8 percent in the fiscal first quarter, the fastest since 2007.

4. Hong Kong land sale prices beat estimates by a third, raising worries that the property market remains overheated despite government efforts.

5. The Commerce Department is expected to reveal the results of an investigation into whether China unfairly subsidized its aluminum industry. Economists speculate that the Obama administration probably will declare that Chinese exporters benefit from their government's help -- a decision that may lead to higher import duties and increase trade tensions between the two world economic powers.

By Ariana Eunjung Cha  |  August 31, 2010; 8:30 AM ET
Categories:  *Morning briefing  
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Next: Home prices increase in 15 major cities, with Washington among the leaders

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