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Teens Buying Online but Spending Less

2008-07-05

Nearly six out of 10 US teens surveyed have made a purchase online, according to a June 2008 study conducted by OTX and The Intelligence Group. Responding online buying teens said they spent an average of $46 every month, and more than one-quarter spent $50 or more.

CME Group Second-Quarter 2008 Volume Averaged 11.1 Million Contracts Per Day

2008-07-04

CME Group, the world's largest and most diverse derivatives exchange, announced second-quarter 2008 volume averaged 11.1 million contracts per day, up 7 percent from second-quarter 2007.

Gasoline and Diesel Demand Drops, Survey Shows

2008-07-04

Once again, high fuel prices are dampening travel plans this holiday. More Americans will stay home this Fourth of July than last year, just as they did during the Memorial Day weekend.

Oil Up, ECB Rates UP

2008-07-04

As expected the European Central Bank lifted rates 0.25% to 4.25% as oil soared above $US146 a barrel in Europe. And in the US the jobs market worsened: 62,000 jobs were lost last month, the unemployment rate remained at 5.5% and a further 55,000 jobs were lost in revisions of figures for previous months.

Interest Rates Rose in Europe

2008-07-04

Inflation is a worry, no matter the type of economy. Oil prices are rising and acting like a demand eater, just as rising interest rates have been doing here. Oil surged over $US146 a barrel, then eased, stocks swooned, interest rates rose in Europe.

Spherion Survey Shows Decrease in Overall Employee Confidence

2008-07-04

The Spherion(R) Employee Confidence Index dropped 0.8 points to 46.1 in June, showing a record-low level in 2008. The survey, conducted by Harris Interactive(R) on behalf of Spherion Corporation, reveals no movement in macroeconomic confidence with only 12 percent of workers saying they believe there are more jobs available and seven percent reporting the economy is getting stronger.

German Chemical Industry: More Robust and More Competitive

2008-07-04

Over the last few years the chemical industry in Germany has worked for and achieved clear advantages in global competition, so the German chemical industry association (VCI) in a press conference in Frankfurt. Since the start of the upswing in 2003, annual growth in the German chemical industry averaged over 4 percent and was thus much more dynamic than in the chemical industries of the USA, Japan or other EU Member States - where the annual growth rate averaged only 2.6 percent in the period from 2003 to 2007.

US Employment Situation in June 2008

2008-07-03

Nonfarm payroll employment continued to trend down in June (-62,000), while the unemployment rate held at 5.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported. Employment continued to fall in construction, manufacturing, and employment services, while health care and mining added jobs. Average hourly earnings rose by 6 cents, or 0.3 percent, over the month.

Drumbeat Of Bad News Continues To Drive Consumer Sentiment Down

2008-07-03

Soaring gas and food prices and a stock market that just endured its worst June performance since the Great Depression are draining consumers' wallets as well as their confidence, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index.

Volume Of Retail Trade Up By 1.2% In Euro Area

2008-07-03

In May 2008, compared with April 2008, the volume of retail traden May 2008, compared with May 2007, the retail sales index rose by 0.2% in the euro area and by 2.0% in the EU27.

With Transition Behind, Former East Bloc Countries Need To ‘Innovate, Include, And Integrate’ For Growth

2008-07-03

Countries of Eastern Europe and the former Soviet Union have put the crisis of the 1990s behind them, but they need to innovate, include all their citizens in the development of their countries, and integrate with the broader global economy if they want to sustain growth, says a new World Bank report.

Bankrate: Mortgage Rates Retreat on Economic Worries

2008-07-03

Mortgage rates were lower across the board, with the average conforming 30-year fixed mortgage rate falling to 6.53 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points.

G8 Must Act Now as 'World Entering a Danger Zone,' Zoellick Says

2008-07-03

World Bank Group President Robert B. Zoellick has called on leaders of the G8 as well as the major oil producers to act now to deal with surging food and energy prices, warning that the world is now “entering a danger zone.”

$5 Diesel Fuel, the Economy-Killer

2008-07-03

Oil companies put the brakes on the U.S. economy this spring by manipulating the supply of diesel fuel and spiking the price, according to a new study commissioned by Consumer Watchdog. The detailed report shows that oil companies and their refiners produced less diesel, imported less diesel and exported far more diesel early in 2008 than in previous years.

European Inflation is Rising

2008-07-03

The Irish economy is moving closer to recession, and now economists say that Denmark, Portugal, Italy and Spain are hovering on the brink as the European Central Bank prepares to lift rates by 0.25% to 4.25%.