Retail sales rise in January signals tenuous consumer lift
U.S. Commerce Department data show retail sales up 1 percent in January, reversing December’s decline and the longest slide in months. Economists warn the gain may be fleeting amid unemployment near 5 million and firm inventory cuts signaling possible further production layoffs. Analysts cite cautious spending and mixed revisions to prior months.
MENTIONED IN THIS ARTICLE
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Commerce Department
Joel Naroff
Naroff Economic Advisors Inc
Naroff
Thomson Reuters
Ian Shepherdson
U.S
International Council of Shopping Centers
Goldman Sachs
Migrant workers hunt for jobs as China faces downturn
Xian Yuguo, a 20-year-old migrant, travels by bus across Guangdong seeking work amid China’s worsening economy. He and millions of others face low pay, scarce openings, and fears of crime as factories cut wages and lay off workers.
MENTIONED IN THIS ARTICLE
Dongguan
China
Xian Yuguo
Xian
Guangdong
U.S
Labor Bureau
Zhang Ni
Zhang
Hubei
Meng Jinping
Meng
Guangzhou
Canton
Vietnam
Auto parts suppliers seek government loan to save industry
FormTech Industries of Royal Oak and other suppliers push for up to 25.5 billion in federal loans to survive after automakers halt plants. CEO Michael Ryan says forged gears and axles power 90 percent of Ford models as banks refuse new lending.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Chrysler
FormTech Industries
Carl Levin
General Motors Corp
Chrysler LLC
Ing
FormTech
Royal Oak
Mich
Ford
Models
Michael Ryan
Ryan
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