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Saturday 20th of February 2010

News Tag: strong

February 14, 2010

US retail sales up 0.5%, consumer confidence down

by Kay Murchie
US retail sales up 0.5%, consumer confidence down
The Commerce Department has revealed a better-than-expected 0.5% rise in January retail sales compared with the previous month, suggesting a strong economic recovery. The figures follow on from the 0.1% fall in December but on an annual basis, sales were up by 4.7%. Retail sales are closely monitored because consumer spending makes up for more than two-thirds of overall economic ...

India industrial output soars 16.8% on year

by Kay Murchie
Official figures have revealed further evidence of a strong recovery within India’s economy after industrial output surged by 16.8% in December compared with a year earlier - beating analysts expectations. According to analysts, the Government is likely to withdraw its stimulus measures as a result of the strong performance. The country's central bank has injected in excess of £80 billion in ...

February 11, 2010

UK factory output sees strong December growth

by Kay Murchie
The Office for National Statistics (ONS) revealed UK manufacturing output grew more than expected in December, boosting hopes of an upward revision to the initial estimate of fourth quarter GDP figures. According to the ONS, manufacturing output increased by 0.9% in December after strong gains in the transport, paper and publishing and electrical and optical equipment sectors. Meanwhile, the broader measure of ...

February 8, 2010

Indian economy to grow 7.2%

by Kay Murchie
The Indian Government has today announced that the economy is expected to expand 7.2% in the year to the end of March. The economy is making a strong recovery and expanded at an annual pace of 7.9% in the three months to the end of September, after growing 6.7% in the year to the end of March 2009. Meanwhile, today’s announcement has raised ...

January 21, 2010

Morrisons outperforms rivals with strong Christmas trading

by Kay Murchie
Supermarket giant Morrisons has beat its rivals by announcing strong Christmas trading results. The Bradford-based retailer said like-for-like sales in the six weeks to January 3 rose by 6.5%. Meanwhile, total sales grew 11.2% as the supermarket attracted a record number of customers and the strong festive performance resulted in Morrisons increasing its market share over the period, up to 12.3% from ...

January 13, 2010

Matalan sees strong Christmas trading

by Kay Murchie
Fashion and homewares chain Matalan has joined other major retailers by posting strong Christmas sales. The retailer, which is traditionally based in out-of-town locations, said like-for-like sales for the 13 week period ending 2 January grew 9.3%, with like-for-like sales for the five weeks over Christmas and the New Year up 13.7%. The chain, which has more than 200 stores across the UK, said ...

January 12, 2010

BRC: December retail sales in sharp rise

by Kay Murchie
The British Retail Consortium (BRC) has today announced that the High Street experienced the strongest December for eight years, boosting hopes that the UK economy will have emerged from recession in the fourth quarter. According to the BRC, like-for-like sales grew 4.2% by value during December as last-minute Christmas shoppers boosted sales. However, the BRC did highlight that the figures compare with ...

January 11, 2010

Peacocks, Poundland, Co-op see strong xmas trading

by Kay Murchie
Peacocks, which operates more than 500 fashion stores across the UK, posted a 17% rise in like-for-like sales on last year's levels in December and early January. Richard Kirk, chief executive, said it had experienced a "cracking Christmas as customers decided they were going to celebrate after a year of doom and gloom". Meanwhile, the good news just keeps on coming for ...

January 7, 2010

Currency intervention may be required in Japan

by Kay Murchie
Currency intervention may be required in Japan
Naoto Kan, Japan's newly appointed finance minister, is calling for a weaker yen after the Japanese currency continues to gain strength against the US dollar. While a strong yen is good news for the economy, it makes Japanese exports less competitive - but means imports are more affordable to Japanese consumers. Exports are a key to the economy‘s recovery. Kan’s predecessor, ...

December 8, 2009

Tesco sees improved consumer confidence

by Kay Murchie
Supermarket giant has today reported that overall sales rose by 8.8% (including petrol) over the last three months. Excluding petrol, sales were up 7.7%. Tesco, which has a 30% share of the UK’s grocery market, said sales are up as a result of its double points Clubcard promotion and heavy discounting. The retail said that the Clubcard was "growing in importance as a ...

September 17, 2009

BoJ keeps interest rates on hold

by Kay Murchie
The Bank of Japan (BOJ) has elected to keep interest rates on hold at 0.1% and said it’s possible that a stronger yen will support the economy in the long-term. Since June, the yen has climbed 6.7% against the dollar. Following the two day policy meeting, the central bank also upgraded its assessment of the economy with renewed optimism. The economy, which is the ...

August 20, 2009

UK retail sales up 3.3% on year in July

by Kay Murchie
The Office for National Statistics (ONS) has today revealed a rise in UK retail sales for the month of July. According to the ONS, retail sales rose 0.4% in July when compared with the previous month, while on an annual basis, the gain was 3.3% - the best performance since May 2008. Many analysts had forecast a smaller monthly ...

July 17, 2009

Google announces rise in quarterly profit

by Kay Murchie
US internet search company Google has exceeded market expectations by reporting strong second quarterly results, despite the economic turmoil. The company reported profit of $1.4 billion (£851 million) compared with $1.25 billion in the same quarter a year ago. Meanwhile, revenue rose 3% for the period at $5.52 billion with 53% from outside the US. Analysts reacted well to the results with Sameet ...

June 16, 2009

Tesco remains strong during economic downturn

by Kay Murchie
Supermarket giant Tesco has posted a 4.3% rise in quarterly sales and said it has made a "solid" start to its financial year. While the rise in sales was better than its 3.7% growth in the previous quarter, it was still lower than its major rivals. Sales growth for the three month period to the end of May was behind that of fellow ...

April 5, 2009

HSBC sees strong take up for rights issue

by Kay Murchie
HSBC, which is Europe’s largest bank, said shareholders have bought 96.6% of the new shares offered in its £12.5 billion rights issue - the largest ever held in Britain. The shares were offered at £2.54 each - a heavily discounted price from Friday’s close of £4.35 each. The remaining shares are expected to be sold on the open market. The ...

February 9, 2009

Japan corporate bankruptcies up 16% on year

by Kay Murchie
New analysis from Tokyo Shoko Research has revealed a 15.8% rise in corporate bankruptcies in Japan, compared with the previous year. For the year to 31 March, the number of bankruptcies among listed companies in Japan hit a record high for any financial year since the Second World War, according to Tokyo Shoko Research. The organisation said that smaller companies have been ...