WASHINGTON — U.S. retail sales declined in September and prices paid by businesses also fell, worrisome signs that consumer demand may be faltering while inflation is failing to gain traction.
The two reports on Wednesday could deepen concerns at the U.S. Federal Reserve over the readiness of the economy to absorb interest rate hikes planned to begin in the middle of next year.
MUMBAI: The promoters of Essar Oil are making aggressive plans to expand the company's retail fuel business and have roped in former HPCL chief Subir Roy Choudhury as advisor for the push, according to people aware of the appointment. The private refiner plans to increase its retail outlets to 5,000 over the next two years from 1,550 now, and its planned deal with Russia's top oil producer Rosneft is likely to add muscle to this plan. Essar Oil, in which Mumbaibased Ruias of Essar Group hold 90 per cent stake, will also set up company-owned outlets and is looking to foray into bigger cities.
Beijing (AFP) - Growth in China's industrial output, retail sales and fixed asset investment all fell to multi-year lows during January and February, official data showed Wednesday, as the world's second-largest economy expands at its slowest pace in a quarter century.
Canadian fertilizer company Agrium Inc reported on Tuesday a sharply lower third-quarter profit and a disappointing forecast for the current fourth quarter.
Uncertainty in fertilizer markets, combined with a late North America growing season caused many buyers to delay crop nutrient purchases, said Chief Executive Mike Wilson.
WASHINGTON — The number of Americans filing new claims for unemployment benefits dropped for a third straight week last week, the latest indication the labor market recovery was gaining traction.
Other data on Thursday showed a spike in the cost of gasoline pushed up producer prices last month, but the lack of broad price pressures gives the Federal Reserve scope to maintain its very accommodative monetary policy stance even as the job market strengthens.
(WASHINGTON) — Cheaper gas drove down a measure of wholesale prices in November for the second straight month, a sign inflation remains mild. The producer price index fell 0.8 percent last month, the steepest drop since May, the Labor Department said Thursday. That follows a 0.2 percent decline in October. The index measures the cost of goods before they reach the consumer. Gas prices fell last month by the most in more than three years. Food prices, however, rose by the most in nearly two years, pushed higher by costlier beef and vegetables.