In December, new orders for major American capital goods suddenly slumped in the face of decreasing demand for machinery as well as primary metals, indicating a sustained deceleration in business spending on equipment, which could further impact economic…
In August British consumers spend more
In August, UK shoppers stepped up their spending at the fastest tempo this year, excluding a soar in April generated by the Easter holiday. However, there’s little indication yet that the squeeze on spending is going down, as retailers told on Tuesday.
Evidently, retail sales leapt by an annual 1.3% on alike-for-like basis, as the British Retail Consortium informed.
Surge in total sales in August turned to be the highest non-Easter outcome of 2017, ascending by 2.4%, speeding up from a leap of 1.4% in July.
Non-food sales are still at levels observed two years ago. Obviously, firm food sales mostly reflect ascending prices, with surge in volume terms weaker compared to the previous year, as the BRC told.
A steep drop in the value of the British pound since the Brexit vote in June last year, combined with poor hikes in pay, has drastically affected the spending power of households in United Kingdom who are the number one drivers of the UK economy.
American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
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