“US consumer spending rises - ninemsn” plus 2 more |
- US consumer spending rises - ninemsn
- Charlotte Health and Beauty Examiner | - Examiner
- Savoir Flair: The monthly dish on Main Line fashion ... - Main Line Media News
| US consumer spending rises - ninemsn Posted: 14 May 2010 07:09 AM PDT US retail sales rose in April for the seventh straight month, factory production surged and businesses restocked their shelves. The trio of government reports on Friday pointed to an economy that's improving modestly but steadily. Consumers drove retail sales up 0.4 per cent last month. The gain was less than the 2.1 per cent growth in March. But that surge was boosted by an early Easter holiday and auto incentives. Shoppers are closely watched because their spending accounts for 70 per cent of economic activity. It rose in the first three months of this year at the fastest pace in three years, according to the Commerce Department report. As employers ramp up hiring, spending could rise further in coming months. Industrial production also rose in April, posting an 0.8 per cent gain. Factories, the biggest slice of industrial activity, ratcheted up output by a brisk 1 per cent for a second straight month, the Federal Reserve report showed. Manufacturers have played a leading role in powering the recovery. They are boosting production because companies are starting to restore their depleted stockpiles of goods. As evidence of that trend, business inventories grew for a third straight month in March, Commerce said in a separate report. Inventories rose 0.4 per cent. And total business sales gained 2.3 per cent - the sixth straight increase and the best showing in four months. A diverse group of manufacturing sectors reported gains in production in April. They included metal products and machinery, appliances, furniture and carpeting, and chemicals and plastics. "The manufacturing recovery is getting more diffuse, with 17 of 19 major sectors increasing production," said David Huether, chief economist at the National Association of Manufacturers. "It looks more durable and deeper." Investors appeared to look past the encouraging reports on the US economy and focused more on concerns about how spending cuts in Europe might slow the continent's economy. The Dow Jones industrial average fell more than 150 points in morning trading. Although the retail sales gains suggest a sustained recovery, some analysts sounded a cautionary note. They think the rebound will remain weaker than previous recoveries because of obstacles weighing on households. "The decent gains in payroll employment in recent months have improved the outlook for spending," said Paul Dales, an economist at Capital Economics. But he said he still expects a sub-par recovery because of the "continued weak fundamentals of heavy indebtedness, tight credit and high unemployment." The 0.4 per cent rise in retail sales in March was led by a 6.9 per cent surge in spending at hardware stores. Spending was also up at health and beauty shops and petrol service stations. Most other categories either showed outright declines or smaller increases than in March. Auto sales posted a small 0.5 per cent advance. That was much lower than the 6.7 per cent surge in the previous month. Shoppers had rushed in March to take advantage of sales incentives first offered by Toyota Motor Corporation. to try to counter damaging publicity from its safety recalls. Sales at department stores fell by 1.5 per cent. And the broader category of general merchandise stores, which covers big retailers such as Wal-Mart and Target, reported a 0.4 per cent decline. In addition to the impact from an earlier-than-usual Easter, retailers had to contend with cold and rainy weather in much of the country in April. That depressed sales of spring clothing. Demand at specialty clothing stores fell 1 per cent in April after having jumped 2.6 per cent in March. Sales at appliance and electronics stores fell 0.4 per cent in April, after an even bigger 1.3 per cent drop in March. The 0.4 per cent rise in sales excluding autos followed a 1.2 per cent jump in activity outside of autos in March. The overall economy, as measured by the gross domestic product, grew at annual rate of 3.2 per cent. That gain was led by the biggest advance in consumer spending in three years. Economists worry that spending could falter in the coming months without more growth in income. But there have been encouraging signs that job growth is picking up. In April, payroll jobs grew by 290,000, the most in four years. Still, the unemployment rate rose to 9.9 per cent as more people began or resumed job searches - a sign that many are feeling more optimistic about the job market. Five Filters featured article: The Art of Looking Prime Ministerial - The 2010 UK General Election. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Charlotte Health and Beauty Examiner | - Examiner Posted: 14 May 2010 01:42 PM PDT Five Filters featured article: The Art of Looking Prime Ministerial - The 2010 UK General Election. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. This posting includes an audio/video/photo media file: Download Now |
| Savoir Flair: The monthly dish on Main Line fashion ... - Main Line Media News Posted: 14 May 2010 08:42 AM PDT
MORE FROM MINKOFF. Purse designer Rebecca Minkoff (shown with handbag manager Jason Norton) paid a spring visit to Saks Fifth Avenue in Bala Cynwyd to introduce her new luxury line (Rebecca Minkoff Collection), exclusive to Saks stores. Known for fusing exotic skins and intricate hardware with signature shapes, Minkoff has attracted a celebrity fashionista following that includes Blake Lively, Rachel Bilson and Leighton Meister.
C'mon out and play!: Get your flair on at our second annual girls night out! Join me at the Villanova Conference Center on Thursday June 3 from 4 - 8 pm for Flair '10 Women's Expo. The fun-filled night features fashion shows, makeovers, boutique shopping, giveaways, food and drink, and more. Main Line health experts will give mini-lectures on "Nutrition Unplugged," "Women, Heart and Stress" and "The Skinny on Skin Health." Register online at www.mainline-mediaevents.com to be eligible to win fabulous door prizes. Hope I'll see you there! CommentsYou must be logged in to post a comment. Five Filters featured article: The Art of Looking Prime Ministerial - The 2010 UK General Election. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| You are subscribed to email updates from Add Images to any RSS Feed To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 comments:
Post a Comment