Economic News

Amid all the Christmas planning, there is one critical financial decision that should be made for the future.Imagine if this week you were diagnosed with a critical illness – perhaps a heart attack, kidney failure, cancer or a stroke. Some harsh questions would then need to be answered: who would financially help you (particularly if there is no partner to fall back on)? What will happen to your b ...

US consumer spending recorded its biggest increase since July last month, Commerce Department figures show. Spending rose 0.5% in November after an increase of 0.3% a month earlier. Another report from the University of Michigan also showed consumer confidence remained near year highs at 91.7 despite a slight fall in December. Analysts said the reports could provide further encouragement to policy makers which may mean a cut in interest rates. Consumer spending accounts for two thirds of US  ...

LONDON (AFX) - Leading currencies were locked in tight ranges, reflecting the torpor that has settled on the market ahead of the long Christmas weekend. The day's economic indicators failed to liven up the proceedings although there were some interesting pieces of data. In Europe, news that French consumers loosened their purse strings in November was offset by a drop in a business sentiment sur ...

NEW YORK (AFX) - A pair of government economic reports contained good news for automakers, computer companies and appliance manufacturers Friday. But steel companies and heavy equipment makers felt a pinch. The Commerce Department said consumers increased spending by 0.5 percent in November, the biggest gain in the measure since July. A second report said orders placed with factories for expensiv ...

WASHINGTON (AFX) - Showing some holiday cheer, consumers boosted their spending in November by the largest amount in four months, while the nation's manufacturers saw demand for big-ticket goods rebound. The latest snapshot of consumer and business activity was contained in a pair of reports released by the Commerce Department on Friday, with encouraging signs for the economy. One report sho ...

LONDON (AFX) - Major currencies stayed little changed in quiet pre-Christmas trade with the euro pretty much stuck in a range around 1.32 usd. Economic data out of Europe was second tier and had little market impact, although investors will continue to keep an eye on the trickle of inflation numbers from the various German states. The euro zone seasonally adjusted current account surprisingly na ...

CHANCELLOR Gordon Brown looked set to meet his economic growth targets for the year today, after figures showed a faster than expected rate of expansion. The Office for National Statistics said the level of gross domestic product in the third quarter of the year was 2.9 per cent higher than in the same period of 2005. Quarterly growth in the July to September period was 0.7 per cent. The rate o ...

FRANKFURT (AFX) - Euro zone interest rates remain low even after the European Central Bank's latest tightening move, and its monetary policy continues to be supportive to economic expansion while inflation risks remain tilted to the upside, said Bundesbank President Axel Weber. In reference to Germany, he said he expects the 3 percentage point hike in VAT coming into force on Jan 1 to dampen but  ...

Sam Fleming, Daily Mail22 December 2006 The economy is growing at its fastest pace in two years, Government figures showed yesterday. GROWTH: The Chancellor Gordon Brown delivering his Pre-Budget Report WANT TO KNOW MORE? Tax burden risks harm to economy A tarnished Golden Rule Pre-Budget Report 2006 OTHER STORIES 50% off as stores fear Xmas slump Market report: Friday preview BA hit as fog halts flights House market 'disaster' warning Deadlines for last-minute  ...

Zimbabwe is preparing to open talks with China for a $2bn (£1.1bn) loan, in a bid to boost its crumbling economy. Much of the money would be used to fight Zimbabwe's soaring inflation, the state-run Herald newspaper reported. China has been looking to extend its influence in Africa and recently hosted a summit of African leaders. Zimbabwe has been struggling to cope with economic collapse brought about, critics say, by the policies of President Robert Mugabe. The southern African countr ...