US consumer spending posts record drop

US consumer spending posts record drop

US consumer spending suffered another month of record decline in April as the COVID-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter. The Commerce Department said on Friday consumer spending, which accounts...
US consumer spending posts record drop

Record fall in overseas arrivals in March

Overseas arrivals to Australia slumped 60 per cent in March – the largest ever drop in overseas travel – as the country imposed restrictions to prevent the spread of coronavirus. There were 331,900 short-term visitors to Australia in March 2020, down from...
US consumer spending posts record drop

Oil firms as OPEC+ begins record cuts

Oil producers should start the week buoyant after two industry benchmarks posted their first weekly gains in four weeks as OPEC and its allies cut output to tackle a supply glut from the coronavirus crisis. In April, US crude fell to an all-time low and traded...
US consumer spending posts record drop

ASX set to open lower after record month

Share prices are set to decline when trading begins on Friday after the Australian stock market recorded its best month since 1988. The SPI 200 futures contract was down 123 points, or 2.22 per cent, at 5,417.0 points at 0700 AEST on Friday. Overnight, US stocks lost...
US consumer spending posts record drop

World stocks head for best month on record

World stocks are heading for their best month on record as encouraging early results from a COVID-19 treatment trial and expectations of more European Central Bank (ECB) stimulus help ease the pain of February and March. Europe saw a cautious start on Thursday, with...