AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
April sales soft, retailers upbeat
Market News' rolling retail sales index rose to a still-weak 49 in the 4 weeks ended April 30 from 45.9 in the prior week. Many retailers will likely post modest same-store sales growth in April, but most are sticking to full-year profit and sales forecasts. High goods costs -- and service costs -- are being offset by lower labor costs.
Euro zone manufacturing shrinks
Manufacturing in the 12 euro nations contracted for the first time since Aug. '03, adding to signs that high oil prices are damping economic growth. Reuters' euro zone purchasing managers index fell to 49.2 in April from 50.4 in March, below the boom-bust 50 line. The orders subindex also signaled declines, to the lowest since July '03. Jobs were negative for a 47th straight month. Germany, France and Italy all posted sub-50 index readings.
** The data add more pressure on the European Central Bank to ease interest rates to try to encourage growth. Euro zone growth has trailed U.S. growth for 13 of the past 14 ...