consumers
Washington (AFP) - Retail sales in the United States grew more than anticipated last month, government data showed on Monday, defying predictions of weaker consumer demand. US retail sales picked up by 0.7 percent in March to $709.6 billion, after February's increase was revised to 0.9 percent, said the Commerce Department. From a year ago, the March figure was 4.0 percent higher. Boosting the headline figure was a 2.1 percent rise in gas station sales from February to March, said the latest report. Excluding gas stations, overall sales were up by a slightly lower 0.6 percent. But motor vehic...
AFP
Bank customers in Germany have to pay exorbitant fees for basic accounts when compared with other EU countries, according to an analysis by consumer advice centres. With normal use, fees can be up to almost €28 ($30) per month, Der Spiegel magazine reported on Saturday, citing an analysis by the Federal Association of Consumer Centres. "The costs for a basic account in Germany are by far the highest in Europe," said Ramona Pop, the association's head. According to the analysis, the top price for such accounts elsewhere in the EU is €13 in Denmark and €10 in Finland. In France, Ireland and Pola...
DPA
Bank customers in Germany have to pay exorbitant fees for basic accounts when compared with other EU countries, according to an analysis by consumer advice centres. With normal use, fees can be up to almost €28 ($30) per month, Der Spiegel magazine reported on Saturday, citing an analysis by the Federal Association of Consumer Centres. "The costs for a basic account in Germany are by far the highest in Europe," said Ramona Pop, the association's head. According to the analysis, the top price for such accounts elsewhere in the EU is €13 in Denmark and €10 in Finland. In France, Ireland and Pola...
DPA International
Bank customers in Germany have to pay exorbitant fees for basic accounts when compared with other EU countries, according to an analysis by consumer advice centres. With normal use, fees can be up to almost €28 ($30) per month, Der Spiegel magazine reported on Saturday, citing an analysis by the Federal Association of Consumer Centres. "The costs for a basic account in Germany are by far the highest in Europe," said Ramona Pop, the association's head. According to the analysis, the top price for such accounts elsewhere in the EU is €13 in Denmark and €10 in Finland. In France, Ireland and Pola...
DPA Breaking News
Washington (AFP) - US consumer spending warmed slightly in February, according to government data released Thursday, with retail sales regaining ground after an earlier hit from cold weather. Retail sales bounced 0.6 percent last month to $700.7 billion, after January's decline was revised to a wider 1.1 percent, said the Commerce Department. The January drop was the biggest in almost a year, causing some concern. A significant spending slowdown could pour cold water on hopes that consumption continues being a key economic driver. From a year ago, retail sales were up 1.5 percent, said the Com...
AFP
Washington (AFP) - Three Federal Reserve officials called for patience on interest rate cuts Thursday, with one of them suggesting they wanted to see "at least another couple more months of inflation data" before deciding when to start lowering rates. "I still expect it will be appropriate sometime this year to begin easing monetary policy, but the start of policy easing and number of rate cuts will depend on the incoming data," Fed Governor Christopher Waller told a conference in Minneapolis on Thursday in prepared remarks. After lifting interest rates to a 23-year high to tackle runaway infl...
AFP
Washington (AFP) - Retail sales in the United States slipped more than anticipated last month, retreating after the holiday season and bogged down by auto sales and gas prices, government data showed Thursday. The 0.8 percent seasonally adjusted decline went beyond analyst expectations of a 0.2 percent drop, bringing total sales down to $700.3 billion, the Commerce Department said. The slide was the biggest in nearly a year and comes after a strong showing in general for the consumer sector in 2023, which -- helped by labor market resilience -- supported economic growth. A larger than expected...
AFP
Washington (AFP) - The US has seen GDP growth blow past predictions, hiring numbers surge unexpectedly and consumers still spending even as interest rates climbed -- deftly averting a dreaded recession in 2023. While interest rates have hit the highest level in more than two decades, a situation ordinarily accompanied by higher unemployment and a consumption pullback, it has not been the case this time. What accounts for the surprise? 'Value of talent'Low unemployment, wage growth and hiring have underpinned consumers' willingness to spend. The situation stems from turmoil businesses experienc...
AFP
Washington (AFP) - US retail sales accelerated more than anticipated in December, closing out a year marked by resilient consumption, government data showed on Wednesday. Sales picked up in the final month of 2023 by 0.6 percent to $709.9 billion, up from a 0.3 percent bump in November, said the Commerce Department in its latest report. For the full year of 2023, total sales were up 3.2 percent from 2022, the report added. The strong showing comes even though consumer demand was expected to weaken in the face of higher interest rates. In part, a resilient job market has helped to support spend...
AFP
New York (AFP) - US retailers' efforts to attract holiday gift buyers build to a crescendo this weekend as the "Black Friday" shopping day kicked off with big discounts. The major sales day after Thanksgiving, a custom increasingly adopted in Europe and other markets, comes amid lingering unease over the economy this year. As a result, markdowns are expected to be especially deep, reflecting the pressure stores are under to lure US consumers jaded by stubborn inflation for some goods and lingering effects from Covid-19 upheaval. "Black Friday" will be followed by the newer "Cyber Monday," as t...
AFP
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