December 2, 2023
WASHINGTON, D.C.: US consumer confidence rose more than expected in November, reversing direction after a recent decline, with the mood lifted primarily among the over-55s, according to survey data published on Tuesday. The consumer confidence rose to 102.0 this month from a revised 99.1 in October, the Conference Board announced in a statement. This was
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MAYBANK Investment Banking Group is keeping a neutral view on the Philippine consumer sector, noting that high inflation is continuing to erode household purchasing power. While inflation dropped to 4.9 percent in October, it is still expected to breach the 2.0 to 4.0 percent target this year. Maybank said the inflationary trend could be worsened
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Digital payments major PhonePe is set to launch consumer lending on its platform by January 2024, two people aware of the discussions told ET, requesting anonymity. To begin with, the Walmart backed company will work as a distributor for personal loans, as it slowly builds up credit underwriting heft, they added. The fintech is in
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Tata Electronics, which recently acquired an iPhone assembly plant in Kolar, from Taiwan’s Wistron, aims to double the size of its iPhone-casing unit in Tamil Nadu’s Hosur. This and more in today’s ETtech Morning Dispatch. Also in the letter:■ Race on for Dealshare CEO post■ Startups innovate interview formats■ Sorin’s Sanjay Nayar teams up with
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CONSUMER staples refer to essential goods that are used by the general public. This industry sector encompasses products that most people need — no matter how good or bad is the state of the economy. Since they are non-cyclical and are always in demand, these products are impervious to business cycles, with consumer demand at
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The annual ritual known as Black Friday takes on renewed significance in 2023. This year’s shopping extravaganza will serve as a litmus test for the strength of the American consumer and, consequently, the broader health of the US economy. As citizens continue to grapple with inflationary pressures amid rising interest rates, growing unemployment, and declining
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Unexpectedly strong spending data this week bolstered hopes that Americans would keep shopping in the face of economic pressures, but earnings from some of the country’s largest retailers suggest that cracks are starting to show in the picture of consumer resilience. The Census Bureau said on Wednesday that retail sales fell 0.1 per cent last
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The European Commission on Wednesday announced a probe into online retail giant Amazon to see how its consumer protection measures stack up against a new EU internet regulation law. The request for information focuses on Amazon’s risk assessment and mitigation measures required under the EU’s Digital Services Act (DSA), “in particular with regard to the
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A ferocious price war among China’s ecommerce retailers during the “Singles Day” shopping event is exposing further weakness in household consumption and raising concerns that the world’s second-largest economy will resume its slowdown. Originally a 24-hour online shopping event in China held on November 11, Singles Day, a nod to the digits in the date,
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Shares of Honasa Consumer Ltd, the parent company of skincare brand Mamaearth, were trading almost 5% down on Friday, well below the price of Rs 324 per share at which it was offered during the company’s initial public offering. At 11.02 IST, the company’s shares were trading at Rs 287.45 on the National Stock Exchange
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