New Car Sales Surge in China
Despite whatever may be happening in other countries, new car sales continue to explode in China. Starting in last December, new car sales in China outpaced sales in America for the first time and the trend continues with a whopping 48 percent increase in June compared to the same month one year ago. More
Bank of England Holds Line on Interest Rates
As fully expected, the Bank of England left its key interest rate unchanged at a record low 0.5 percent; however, some analysts were caught off-guard when the Bank said that – for now at least – it would not be adding to the £125 billion ($200.9 billion) stimulus plan already committed to the economy. More
565,000 New US Jobless Claims
The US Labor Department announced today that the number of newly unemployed workers filing for unemployment benefits fell to 565,000 last week. More
US Retail Sales Disappoint
US retail sales figures just released for June show a general weakness across all sectors with much of the decline blamed on the lack of credit available to consumers forcing them to make cash purchases.
“Consumers are under severe pressure on the job front, so discretionary spending is just not happening, ” said Ken Perkins, president of retail consulting firm Retail Metrics LLC. More
