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Latest Capital Economics Items
As Europe makes a wobbly recovery based largely on selling goods overseas, the key question for its economy is: Are shoppers at home ready to start spending again?
Consumers did not boost their spending in June and their incomes failed to increase, further evidence that the economic recovery slowed in the spring. And Americans saved at the highest rate in nearly a year.
China is set to become the world's second-largest economy in a resurgence that is changing everything from the global balance of military and financial power to how cars are designed.
Retail sales fell in June for the second straight month, more evidence that the recovery will slow in the second half of the year.
Spending among Americans increased in May, though not enough to speed the country along the road to economic recovery.
Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits.
Britain announced the toughest cuts to public spending in decades and new tax increases on Tuesday in an emergency budget aimed at sharply reducing the country's record debts.
Consumer spending rose in March by the largest amount in five months, but the gains were financed out of savings, which fell to the lowest level in 18 months.