Consumers are becoming more optimistic about the US economy

CNN — Consumer confidence rose for the second month in a row in September, as moderating gas prices and hoping that inflationary pressures could ease helped improve the collective mood of the nation. The Conference Board reported Tuesday that the baseline index rose to 108 from a revised 103.6 in August, the highest since April. … Read more

Interest rates: decline in household consumption is a sign that RBA will cut spot interest rates in 2023

This aggressive tightening has already increased the average variable mortgage rate in Australia by two-thirds, from 3.45 percent in April just before the first rate hike to 5.70 percent today. This is the highest variable mortgage rate since January 2013 and comes at a time when Australian mortgage holders are more indebted than ever. According … Read more

Cost of living: calls to extend fuel tax for another six months

There is concern that when the fuel tax cut ends it will create a ripple effect, with many people likely to cut their spending on shops and restaurants because they can’t afford to drive anywhere. The Albanian government has ruled out an extension of the fuel tax cut when it expires on September 29, but … Read more

The Source Bulk Foods Crows Nest Whips ‘Society’ After Entering into Liquidation

A Sydney shop owner has brutally lashed out at ‘society’ after the ‘heartbreaking’ collapse of her small business. Last week, a letter was pasted on the front door of The Source Bulk Foods in the leafy Crows Nest in the north of the city informing customers that it was closed. The Source Bulk Foods is … Read more

Cost of living: Australians respond by eating out and spending $3 billion extra

recession? Who cares! Aussies spend a lot of money eating out while the ship is sinking. Australia is officially sick of cooking dinner, and we’re done with Uber Eats: we’re now eating indoors. At real restaurants. Latest retail data shows Australians had a good time here with food that comes in plastic boxes and cardboard … Read more

Business confidence rises with strong profits, but consumers are becoming more pessimistic

There is a big difference in mood in the economy. Most important points: Consumers are deeply pessimistic, but still spend Business confidence has improved However, economists believe that spending will fall as interest rates rise Businesses are enjoying prosperous conditions with high profits and growing confidence, but consumer confidence has slipped into deeply negative territory. … Read more

Inflation, recession and living off ‘borrowed money’ as credit rises

Recession fears and price pressures have not tamed Americans’ urge to spend money. Send the news: Credit card balances are defying the pull of persistent inflation and slower growth. They account for about $890 billion of Americans’ whopping $16 trillion in household debt. What is going on: Spending on experiences, such as travel and entertainment, … Read more

Yang Huiyan, Asia’s richest women, sees her fortune halved

It has been a difficult year for Asia’s richest woman. Yang Huiyan, the majority shareholder of Chinese real estate giant Country Garden, has seen her vast wealth plummet. Due to the scarcity in the real estate sector, Yang’s wealth fell more than 52 percent from $23.7 (33.9) billion to $11.3 (A16) a year ago, according … Read more

Turkey launched an unusual experiment to fight inflation by cutting interest rates. This is how it failed spectacularly

While much of the world anxiously waits to see if central banks will continue to raise interest rates to counter a post-pandemic rise in inflation, Turkey is bucking the global trend. The country’s central bank has left interest rates unchanged at 14 percent for the seventh straight month as part of an unorthodox experiment. Most … Read more

Thousands of companies plunged into administration in 2021-2022

Thousands of Australian businesses have disappeared in the past year – and experts say it will only get worse in the coming months. It’s no secret that the construction industry is in crisis, with numerous large companies collapsing in recent months, leaving staff and potential homeowners in the lurch. A number of well-known retailers – … Read more