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The growth of spending on everyday goods accelerated in March in the US, data on debit and credit cards of Bank of America showed. Retail sales, except for cars, increased in March at a faster pace. Compared to February, growth, seasonally adjusted, was 0.6% and was the strongest since last November. The expenditures of households earning less than 50 thousand dollars a year increased especially. The beginning of the year was quite weak for consumer spending amid deferred tax refund. At the same time, the adoption of the tax reform promoted the growth of salaries. In March, after-tax wages rose by 7.5% in annual terms after rising 5.2% a month earlier.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
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