China's retail sales to soar 15% this year

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Source: Dukascopy
China's retail sales are likely to surge by 15% in 2012, said one government official. Consumption is expected to outplace investment, being the main engine for economic expansion in 2012, according to Chinese Academy of International Trade. Retail sales grew by 14.7% year-to-year over two month before March, decelerating from 18.1% increase in December, reported the National Bureau of Statistics.



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Thu, 22 Mar 2012 08:49:25 GMT

US house sales tumbled by 0.9% in February

Existing house sales in the US decreased more than initially expected last month, reported the National Association of Realtors. The sales of existing homes slid by 0.9%, attaining 4.59 million units on a seasonally adjusted basis in February. Experts predicted the figure to fall to 4.61 million units. However, considering annual changes, the home sales advanced by 8.8% in February.

Thu, 22 Mar 2012 09:04:58 GMT

US shares end mixed on Wednesday

US stocks closed mixed on Wednesday trade as home sales dropped and Ben Bernake warned the crisis has not finished yet in Europe. Dow Jones Industrial Average lost 0.35% or 45.57 points to 13,124.62, S&P 500 index slipped 0.19% or 2.63% points and closed at 1,402.89 while Nasdaq Composite index edged slightly higher, adding 0.04% or 1.17 points to 3,075.32.

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