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US personal incomes rise, spending weak in February WASHINGTON: US personal incomes grew at a solid pace in February, while consumer spending only rose marginally, the Commerce Department reported Monday.Household income rose 0.4 percent for the second straight month in February, while growth in wages and salaries, the largest part of income, slowed. Consumer spending edged up 0.1 percent after slipping in the prior two months. Adjusted for price changes, consumer spending fell 0.1 percent after a rise of 0.2 percent in January."Real spending has stuttered under the severe weather, but not as badly as last year," said Ian Shepherdson of Pantheon Macroeconomics. The analyst said the plunge in gasoline prices, leaving more cash in consumers' pockets, suggests "the scope for a spring rebound is now very large."Inflation remained tepid in February , and well below the Federal Reserve's 2.0 percent annual rate target. The personal consumption expenditures price index, the Fed's preferred inflation measure, rose 0.2 percent ...

Sweden must give immigrants time to learn Swedish: OECD STOCKHOLM: Sweden needs to do more to help its immigrants and refugees learn Swedish so they can become fully-integrated members of society who hold down jobs, the OECD said on Monday.The Organisation for Economic Cooperation and Development (OECD) highlighted immigrants' difficulties in learning the Swedish language in its report on the Scandinavian country.The government subsidises two types of employment for non-European Union immigrants, one which requires evening courses in Swedish, entitled Step In Jobs, and ...
Canada Feb factory prices rise for first time in 6 months OTTAWA: Canadian producer prices rose in February, ending five consecutive months of declines as the cost of energy and petroleum products rebounded, Statistics Canada said on Monday.The industrial product price index was up 1.8 percent in February, greater than economists' expectations for a 1 percent gain and the largest increase since June 2008.Still, prices were down 1.6 percent from a year ago, while January's monthly figure was upwardly revised to a decline of 0.3 percent.February's ...
China eases housing tax, lending rules to fight downturn SHANGHAI/BEIJING: China on Monday courted home buyers with a bigger tax break as it cut downpayment requirements for the second time in six months, stepping up a fight against sliding house prices that is imperiling the world's second-biggest economy.The People's Bank of China (PBOC) said on its website that commercial banks can now lower their minimum downpayment requirement for buyers of second homes, and with outstanding mortgages, to 40 percent from 60 percent previously.The Ministry ...
US consumer spending tepid; savings at two-year high WASHINGTON: US consumer spending barely rose in February as households boosted savings to their highest level in more than two years, the latest sign that the economy hit a soft patch in the first quarter.Economic growth has been undercut by bad winter weather, a strong dollar, a now-settled labor dispute at busy West Coast ports and softer demand in Europe and Asia. The slowdown in activity, however, is expected to be temporary."Even if the first ...
Shanghai raises monthly minimum wage 11 percent: Xinhua BEIJING: Shanghai will raise the city's minimum wage by 11 percent from April 1, the state-owned Xinhua news agency reported on Monday.The minimum monthly salary will rise to 2,020 yuan ($325) from 1,820 yuan, while the hourly base wage will increase to 18 yuan from 17 yuan, the news agency said, citing a local government announcement.Rapid increases in Chinese wages reflect a shift in the world's second-largest economy toward more reliance on consumption, while simultaneously ...
Pending home sales give hopeful sign for US housing market WASHINGTON: Contracts to purchase previously owned U.S. homes rose to their highest level in 1-1/2 years in February, a sign the lackluster recovery in the U.S. housing market could be accelerating.The National Association of Realtors on Monday said its pending home sales index rose 3.1 percent last month.Economists polled by Reuters had forecast a 0.4 percent gain, although the association also revised previous readings to show a smaller gain in January than initially estimated.The increase ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
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WeeklyMarch 13, 2015
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