US economic growth was a bit more sluggish than initially thought in the second quarter as businesses aggressively ran down stocks of unsold goods, offsetting a spurt in consumer spending.
Gross domestic product expanded at a 1.1
US economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong dollar, which could undermine future business spending.
Gross domestic product expanded at a 2.2 per c
US consumer spending fell for the first time in eight months in September, but a rise in consumer sentiment to more than a seven-year high this month indicated economic growth would remain on solid ground.
The economic picture als
Kuwait’s non-oil sector grew a strong 10.6 per cent in 2013, driving the country’s nominal GDP to KD49.8 billion ($175.4 billion), a growth of 2.3 per cent over the previous year, according to national accounts data.
Consumer spending in Kuwait remained relatively robust, and continued to grow more rapidly than the rest of Kuwait’s economy, said a report.
However, it has begun to moderate as well. The point-of-sale transactions (POS) in
Egypt's urban consumer inflation accelerated in October, driven by higher consumer spending on food and transportation, the state Capmas statistics agency reported on Sunday.
Capmas said inflation rose to an annual 10.4 percen
Saudi labour reforms to nudge more local people and notably women into jobs once held by expatriates have raised consumer spending and boosted revenue for retailers, Muhammad Al-Agil, chairman of Jarir Marketing Co, said.
The consumer spending in Kuwait is set for another strong year in 2012 backed by solid salary increases and an improving employment scenario, according to a report by the National Bank of Kuwait (NBK).
The consumer spending growth
The US consumer spending got off to a fairly firm start in the third quarter, rising by the most in five months and offering hope economic growth could pick up this quarter.
Other data on Thursday showed the number of Americans filing n
While the average amount spent per credit card transaction in the UAE is up 15-20 per cent year-on-year in the first quarter of 2012, extracting value from the consumer boom is not easy for retail banks, say experts.
'People are spendi