China retail sales are declining

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Source: Bloomberg
Retail sales in China are declining, weighing on Premier Wen Jiabao's intention to rely on consumer spending for recovery as the economy is experiencing a slowdown. Fiscal spending is growing at a faster pace than the retail sales, rising 37% in July from the previous year, the Ministry of Finance reported. Retail sales increased 12.1% in June and 12.2% in July, according to the National Bureau of Statistics. 
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Wed, 29 Aug 2012 07:15:10 GMT

Euro is near 8-week high before Italy's debt sale

Before Italy sells debt, the Euro trades at the highest level in 8 weeks on speculation the ECB is discussing a bond-purchase programme, which may cap European countries' borrowing costs. The common currency appreciated versus most of its major peers after yields of Spanish bills declined yesterday. The Euro traded at $1.2556 from $1.2565. 

Tue, 28 Aug 2012 20:40:08 GMT

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