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The previous month British retail spending declined at the fastest pace since 2008 because customers reduced purchases of non-food goods amid soaring inflation, as a poll disclosed on Tuesday.
On a like-for-like basis retail sales values edged down by an annual 1%, stripping out changes in store size, as the British Retail Consortium informed, compared with September’s 1.9% soar.
Another poll from payments company Barclaycard also disclosed poor consumer spending. The survey pointed to a similar split between expenditure on essentials and the cost of spending on discretionary stuff.
The previous week, the Bank of England lifted interest rates for the first time for more than 10 years.
The vast majority of market experts surveyed by Reuters before the decision were assured that a lift would be an error in part because of the vulnerable state of consumer finances, suppressed by the soar in inflation since Brexit vote.
French quarterly surge is expected to strengthen in the first half of 2019 because consumer spending derives benefits from improving household incomes as well as reviving business confidence after protests at the end of 2018…
In January, new orders for American goods shot up less than anticipated, tamed by dives in orders for computers as well as electronic products, which is another sign of decelerating manufacturing activity…
The Federal open market committee (FOMC) will make its monetary policy statement and announce the interest rate on March 20, 20:00 MT time.
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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