Indonesia’s middle class, long considered the backbone of the aspirational country’s economy, has shrunk by about 20 percent since 2018, threatening growth and frightening away foreign investors, the Financial Times reported.
Tag: Consumer Spending
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DELINQUENT LOANS ON THE RISE AMONG U.S. BUSINESSES
The share of U.S. business loans falling behind in their payments is the highest since 2017 and could rise even higher as the impact of Donald Trump’s trade war begins to bite, the Financial Times reported.
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CORPORATIONS SEE LOWER PROFITS AHEAD
After an upbeat earnings season, corporations foresee a less sunny future.
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U.S. RETAIL SALES DROP MOST IN TWO YEARS
Last month, U.S. consumers spent 0.9 percent less than in December, the commerce department reported, the largest one-month drop since March 2023.
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U.S. DOMINANCE OF EQUITY MARKETS IS ENDING
The U.S. stock market’s global dominance will peak this year and then decline, Michael Hartnett, Bank of America’s chief global strategist, has warned.
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U.S. ECONOMY GREW 2.8 PERCENT IN 2024
U.S. GDP expanded by 2.8 percent last year, the Commerce Department reported. The growth was smaller than 2023’s 3.2 percent but compared to much of the world, the U.S. economic growth is doing better than most.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community this year.
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AUSTRALIA’S ECONOMY SLIPS TOWARD RECESSION AND “NATIONAL EMERGENCY”
In this year’s third quarter, Australia’s economy squeaked out growth of 0.8 percent, year on year, down from 1 percent in the preceding three months, government figures show. The expansion was the slimmest since the end of the COVID War, the World Socialist Web Site (WSWS) reported.
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U.S. GDP GREW 2.8 PERCENT IN OCTOBER
The U.S. economy expanded by 2.8 percent in July through September as consumer spending remained strong and exports surged, the Commerce Department said.
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ECONOMIC BRIEFS
Britain’s shoppers cut their spending by 0.7 percent in October from September in anticipation of higher taxes, The Wall Street Journal reported, but “there are signs spending could pick up in coming months,” the journal said.
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