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US consumer spending falls as income growth stalls WASHINGTON: US consumer spending fell in September after a surge in August as personal income growth slowed to a crawl, the Commerce Department reported Friday.Consumer spending, which accounts for the bulk of US economic activity, fell 0.2 percent in September after a 0.5 percent rise in August.It was the first decline in spending this year since January, when consumer outlays also fell 0.2 percent amid harsh winter weather.Personal income increased only 0.2 percent from the previous month, the weakest rise since December 2013.Disposable personal income edged up 0.1 percent, the smallest increase since early this year.The savings rate climbed two-tenths of a percentage point to 5.6 percent in September -- the highest level since December 2012.The personal consumption expenditures price index, the Federal Reserve's preferred inflation measure, ticked up 0.1 percent after a decline of 0.1 percent August. Stripping out volatile food and energy, core PCE prices rose 0.1 percent.Year-over-year, ...

Twelve miners likely dead in Colombia shaft flood AMAGA: Colombia said Friday that 12 miners trapped in a coal shaft are probably dead after the mine flooded with water. The 12 men, aged between 23 and 55, became trapped Thursday in the mine in Amaga in northwestern Colombia when the pit filled with water. "There is no chance the 12 are alive, zero probability," said the head of Amaga's environment management and mining department, Carlos Usma. He said the flooding in the mine ...
Italy confirms end of boat migrant rescue operation ROME: Italy on Friday confirmed the end of its search and rescue operation "Mare Nostrum", which has saved the lives of tens of thousands of boat migrants in the Mediterranean."From tomorrow a new operation called 'Triton' begins," deputy prime minister and interior minister Angelino Alfano told journalists at a press conference, referring to a much more limited mission led by the EU border agency Frontex."Mare Nostrum ends. Italy has done its duty," he said, adding ...
WHO says 2 suspected Ebola cases in Mali, 57 contacts sought GENEVA: Two people are suspected of having Ebola after coming into contact with a two-year-old girl who died of the disease in Mali last week, according to data from the World Health Organization and the US Centers for Disease Control. An epidemiological presentation by both agencies, given on Thursday and seen by Reuters on Friday, breaks down the girl's journey from Guinea to Mali with her grandmother, five-year-old sister and her uncle, and shows she ...
EU asks for WTO panel in tax dispute with Brazil BRUSSELS: The European Union said it had asked the World Trade Organization on Friday to set up a panel to rule on a dispute with Brazil over taxes on automobiles, information technologies and other sectors. According to the EU, Brazil applies high internal taxes for imports in several sectors, while Brazilian products can benefit from selective exemptions or reductions. "In the EU's opinion, the Brazilian tax measures give an unfair advantage to domestic producers and ...
Draghi can only dream of moving like BoJ's Kuroda LONDON: It is the stuff of dreams for President Mario Draghi. The European Central Bank chief can only fantasise about pushing through policy decisions with a one-vote majority, as Bank of Japan Governor Haruhiko Kuroda did on Friday. The euro zone economy is the poorer for his inability. The ECB doesn't disclose any voting patterns. But if the news conferences held after policy meetings are anything to go by, euro zone realpolitik requires a goodly ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln