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Archive for September, 2009
25Sep
US Retailers Plan for a Bumper Holiday Season as Consumers Start Spending
Posted by admin as News
US consumers hit the shops in August in higher-than-expected numbers, raising optimism among retailers planning for the holiday season. Economists already knew that the US government’s $3bn “cash for clunkers” scheme had boosted car sales last month, but retail sales were strong across the board.
Buyers for major department stores say privately that they are planning [...]
The US recession is “very likely over”, Ben Bernanke, Federal Reserve chairman, said as data showed the last month’s retail sales rise fastest for 3 years.
Sales rose 2.7%, with the expected boost from the popular “cash for clunkers” car rebate program accompanied by a surprise pick-up in other spending. This raised hopes that US consumers [...]
The unemployment rate rose from 9.4% in July, then to 9.7% in August, however, the economists have taken cheer from the slowing pace of job cuts. However, the US employers cut fewer jobs than had been expected. The Labor Department announced a total of 216000 job losses on the non-farm payroll measure, which is less [...]
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