NEW DELHI/MUMBAI: Sales of consumer goods have slowed the most in about a decade, suggesting that Indians are making cuts in spending — especially on discretionary products — amid high inflation and a sluggish economy. Most company bosses expect things to get better soon, but a bad monsoon looms as a threat over rural consumption. The overall consumer products market slowed to 7.5 per cent in the year to March from 10.6 per cent in the previous year, according to Nielsen data.
US consumer spending slowed in March even as Americans saw a slight rise in income, official data showed Friday.Spending rose a seasonally adjusted 0.6 percent after an upwardly revised rise of 0.9 percent in February, the Commerce Department said.The increase was slightly better than the average analyst estimate of 0.5 percent increase in consumer spending, a key driver of the US economy.
WASHINGTON — A drop in government spending dragged more on the U.S. economy than initially thought in the first three months of the year, a sign of increasing pain from Washington’s austerity drive.
The U.S. economy expanded at a 2.4% annual rate during the period, down a tenth of a point from an initial estimate, according to revised figures from the Commerce Department released on Thursday. Analysts had forecast a 2.5% gain.
BEIJING: China's economy expanded 7.0 percent year-on-year in the first quarter, official data showed Wednesday, slumping to a new post global financial crisis low even as authorities take steps to bolster growth in the world's second-largest economy. The figure announced by the National Bureau of Statistics was lower than expansion of 7.3 percent in the final three months of last year, but exceeded the median forecast of 6.9 percent in an AFP survey of 15 economists.
Whilst the Business Confidence Index is in positive territory standing at +11.4, it is down from +15.6 last quarter and lower than the high of +37.3 two years ago with the number of firms operating below capacity has risen and there are indications of a further deterioration in productivity with growth also expected to slow.
Exports, while currently very weak, are expected to improve due to a strengthening Eurozone and a weaker exchange rate with the Euro – which if realised, would be positive news for Government who have been championing companies to export more.
US consumer spending cooled in April under pressure from higher food and energy prices and as Americans saw little change in buying power, the Commerce Department reported Friday.Consumer spending rose 0.4 percent in April, slowing a notch from March's 0.5 percent gain, while personal income also rose 0.4 percent, the department said.
BEIJING: China's central bank announced Sunday it would cut the level of funds that commercial banks must hold in reserve by one percentage point, the second such move this year to boost lending. The move, effective Monday, comes days after the world's second largest economy reported its worst quarterly growth figure for six years. In a statement on its website, the People's Bank of China (PBoC) said it will give an additional one-percentage-point RRR cut to banks for agricultural services and a further two-percentage-point cut to the Agricultural Development Bank of China.
Beijing (AFP) - China's economy expanded 7.0 percent year-on-year in the first quarter, official data showed Wednesday, slumping to a new post global financial crisis low even as authorities take steps to bolster growth in the world's second-largest economy.