The economic output of the 20-country Eurozone grew just 0.2 percent in this year’s second quarter, Eurostat, the European Union’s statistics agency, reported after previously estimating a 0.3-percent expansion.
Tag: Consumer Spending
SPOTLIGHT: RETAIL ON THE ROPES
Discount retailer Dollar General saw its share price fall 15 percent early this month after it reduced its 2024 forecast for existing store sales growth.
U.S. MANUFACTURING CONTINUES TO CONTRACT
In August, the Institute for Supply Management’s purchasing managers index grew to 47.2 from its July reading of 46.8 but remained below 50, indicating the sector is still in contraction.
AMEX STOCK DROPS AS ANALYSTS WARN OF WEAK CONSUMER SPENDING
American Express’s share price shrank 2.8 percent on 21 August after Bank of America (BoA) analysts warned of weak consumer spending.
STARTUPS’ FAILURE RATE SOARS
Over the past 12 months, business startups failed at a rate 60 percent higher than the 12 months prior, according to Carta, which provides services to young companies.
U.K. ECONOMY GROWS MORE THAN EXPECTED IN YEAR’S FIRST HALF
Britain’s GDP expanded by 0.6 percent during April, May, and June, nearly matching the first quarter’s 0.7-percent expansion and surprising analysts who had expected a more modest rise.
U.S. ECONOMIC GROWTH DOUBLED IN SECOND QUARTER
U.S. GDP grew by 2.8 percent in April through June, doubling the first quarter’s pace of 1.4 percent.
SECURITY OF GOVERNMENT’S DATA AT RISK, STUDY SAYS
The security of the U.S. government’s data on jobs, consumer spending, crime, education, demographic trends, and other fields is at growing risk, according to a new study by the American Statistical Association.
SPECULATORS BAIL OUT OF JUNK BONDS AS BUSINESS FAILURES INCREASE
Bond buyers are trading out of the riskiest of junk bonds in favor of higher-rated securities as a rise in U.S. bankruptcies has raised concerns over the survival of highly-leveraged businesses during a prolonged period of high interest rates.
U.S. MANUFACTURING ACTIVITY SLOWS AGAIN IN JUNE
For the third consecutive month, U.S. factory activity contracted as manufacturers’ cost of materials fell their most in more than a year.