China to impose higher tax on US vehicles

Note: This section contains information in English only.
Source: BBC

China plans to levy duties on the some vehicles produced in the US amid the recent disputes between two countries. Chinese commerce ministry announced the US cars are dumped on the China's market impacting the domestic industry. The increase in tax followed the WTO approval of the rise in import duties on China's tyres in the US.

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Thu, 15 Dec 2011 16:01:31 GMT

US industrial production declines

US industrial production decreased in November being led by fell in automotive sector, according to Federal Reserve. The production contracted by 0.2% in November on the rapid drop of 3.4% in production of the automobile industry. Analysts expected the indicator remain flat after 0.7% increase in the preceding month.

Thu, 15 Dec 2011 15:05:07 GMT

Retail sales in the UK declined in November

Despite aggressive price promotions the amount of UK's retail sales decreased by 0.4% in the last month as compared to October. Excluding sales of fuel, retail sales lost 0.7% on a monthly basis, reported Office for National Statistics. The decline adds pressure on retailers as consumers tend to cut spending while stallholders anticipate jump in sales volume in pre-Christmas time.

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