Gas Station Sales Decline Significantly as Retail Trends Vary
Category: Economy Total Views: 187By : Editor Updated: 06-19-2024
May Retail Sales See Slight Gain
The Commerce Department reports that in May retail sales in the US increased by 0.1%. Though it is less than the 0.2% decline that was revised for April, this rise is less than the 0.3% increase that economists had predicted. Though not inflation, the numbers have been corrected for seasonal changes. It emphasizes the difficulties Americans have with high inflation and interest rates even with the small growth. The little rise implies that buyers a... Read More
UK Inflation Reaches BOE's 2% Target Ahead of Elections
Category: Economy Total Views: 68By : Editor Updated: 06-19-2024
UK Inflation Hits BOE's 2% Target in May
UK inflation in May hit the 2% Bank of England target. Being in line with the long-term inflation target of the central bank, this is a momentous occasion. This number, which suggests a stabilisation of price growth, was verified by the Office for National Statistics. Being so close to the July national elections, this development is quite significant. Election mood and economic policies may be influenced by the central bank's achie... Read More
Kashkari Foresees Possible December Interest Rate Cut
Category: Economy Total Views: 95By : Editor Updated: 06-17-2024
Kashkari Predicts Possible December Rate Cut
Rate reduction in December is a realistic expectation, according to Minneapolis Federal Reserve President Neel Kashkari. After a time of steady high rates, this prospective rate reduction would be the first of the year. Kashkari underlined the need of additional proof that inflation is consistently falling to the Fed's 2% goal level. He talked on this perspective in a CBS "Face the Nation" interview. The Fed is being cautiou... Read More
China's Mixed Economic Data: Retail Up, Industry Down
Category: Economy Total Views: 61By : Editor Updated: 06-17-2024
China's Retail Sales Outperform Expectations in May
May retail sales in China were better than anticipated, up 3.7% over the same time last year. This growth was higher than the 3% rise that economists polled for Reuters. 3.92 trillion yuan ($540.32 billion) in consumer goods were sold in retail overall, according to the National Bureau of Statistics. Year over year, sales in rural areas increased by 4.1% and those in urban areas by 3.7%. Resilient consumer demand is suggested... Read More
Peru Economy Surges with April GDP Growth of 5.28%
Category: Economy Total Views: 131By : Editor Updated: 06-16-2024
Peru's GDP Surges by 5.28% in April
April's gross domestic product of Peru rose by 5.28% over the same month the year before. The nation's growth rate hasn't been this high in more than 2.5 years. The notable increase undid the contraction of the previous month. Though analysts had projected a far lower growth rate of 1.4%, Peru's economy outperformed these projections. Additionally surpassed was the government's goal of 4% growth. Peru's economy has sh... Read More