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Airbnb, last month bought HotelTonight, an app for finding hotel rooms at a discount, with an eye on a variety of travelers ahead of the U.S. company’s hotly anticipated initial public offering. “Emerging markets like India and China are some of Airbnb’s fastest-growing, with our growth increasingly powered by tourism to and from these markets,” said Greg Greeley, president of homes, Airbnb. OYO, which raised $1 billion last year from investors including SoftBank and ride-hailing firm Grab, operates in India, China, Britain, Dubai, Indonesia and Malaysia.
WASHINGTON, (Reuters) - U.S, retail sales unexpectedly fell in February, the latest sign economic growth has shifted into low gear as stimulus from $1.5 trillion in tax cuts and increased father of the bride cufflinks canada government spending fades, The Commerce Department said on Monday retail sales dropped 0.2 percent as households cut back on purchases of furniture, clothing, food and electronics and appliances, as well as building materials and gardening equipment, Data for January was revised higher to show retail sales increasing 0.7 percent instead of gaining 0.2 percent as previously reported..
Economists polled by Reuters had forecast retail sales rising 0.3 percent in February. Retail sales in February advanced 2.2 percent from a year ago. The surprise drop in sales in February could partly reflect delays in processing tax refunds in the middle of the month. Tax refunds have also been smaller on average compared to prior years following the revamping of the tax code in January 2018. Cold and wet weather could also have hurt sales. The February retail sales report was delayed by a 35-day partial shutdown of the federal government that ended on Jan. 25. March’s retail sales report, which was scheduled for publication on April 16, will be released on April 18.
Excluding automobiles, gasoline, building materials and food services, retail father of the bride cufflinks canada sales fell 0.2 percent in February after an upwardly revised 1.7 percent surge in January, These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product, They were previously reported to have rebounded 1.1 percent in January, Consumer spending accounts for more than two-thirds of economic activity, The sharp upward revision to core retail sales in January was insufficient to reverse December’s plunge, leaving expectations for tepid GDP growth in the first quarter intact, The report joined a raft of other data, including housing starts and manufacturing production..
Growth estimates for the January-March quarter are as low as a 0.8 percent annualized rate. The economy grew at a 2.2 percent rate in the fourth quarter after expanding at a 3.4 percent clip in the July-September period. The loss of momentum is being driven by the waning fiscal boost, higher interest rates, as well as slowing global growth, Washington’s trade war with China and uncertainty over Britain’s departure from the European Union. In February, sales at building materials and garden equipment and supplies dealers tumbled 4.4 percent, the biggest drop since April 2012. Receipts at clothing stores fell 0.4 percent and those at furniture outlets dropped 0.5 percent.
LONDON/HONG KONG (Reuters) - Factory activity remained weak around the world last month, reinforcing worries of a global slowdown as forward-looking indicators pointed to gloomy times ahead, surveys showed on Monday, Euro zone manufacturers had their weakest month for almost six years in March, While father of the bride cufflinks canada China showed a slight, surprising recovery last month, growth in new domestic and export orders was marginal, in a sign that stimulus already injected into Asia’s growth engine may not be enough..
Factory activity in Germany, France, Japan, South Korea, Malaysia, and Taiwan shrank further, adding to expectations of a dovish turn from central bankers. Britain was an anomaly, with manufacturing growth at an unexpected 13-month high, but that was driven by factories stockpiling for Brexit at an explosive rate, unlike anything seen before in a major rich economy. “The jump in the UK manufacturing PMI in March largely reflects producers rushing to complete work before the Brexit deadline, rather than a strengthening of underlying demand,” said Samuel Tombs at Pantheon Macroeconomics.
Figures from Germany and France, the euro zone’s two biggest economies, father of the bride cufflinks canada showed manufacturing activity contracted, as it did in Italy, Growth returned in Spain after a brief dip in February but activity was still stagnating, So IHS Markit’s March final manufacturing Purchasing Managers’ Index (PMI) for the euro zone declined for an eighth month, coming in at 47.5 from February’s 49.3, its lowest reading since April 2013, “The fall in the manufacturing PMI ., shows that the industrial recession is still deepening,” said Holger Schmieding at Berenberg..