US carmaker Ford has today reported its first annual profit since 2005 after a turbulent 12 months for the American car industry.
The company reported an annual net profit for 2009 of $2.27 billion (£1.4 billion) compared with a loss of $15 billion in 2008.
Meanwhile, for the fourth quarter of 2009, profit was $868 million – [...]
Figures published by the Commerce Department today have revealed a better-than-expected 1.4% rise in US retail sales for the month of October. Analysts had expected a rise of 0.9%.
The rise follows a revised 1.5% decline in September, and October’s rise was attributed to an increased demand for cars, despite the Government’s ’cash for clunkers’ [...]
Figures published by the Commerce Department today have revealed a better-than-expected 1.4% rise in US retail sales for the month of October. Analysts had expected a rise of 0.9%.
The rise follows a revised 1.5% decline in September, and October’s rise was attributed to an increased demand for cars, despite the Government’s ’cash for clunkers’ [...]
The Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme, is believed to have contributed to the fall in US consumer spending, which fell for the first time in five months in September, and was the largest decline since December.
According to the US Commerce Department, spending fell 0.5% in the month, compared [...]
Official figures today have revealed that the US economy expanded at an annualised rate of 3.5% between the July and September period, suggesting that the economy has exited its worst recession in 70 years.
The figures have come as no surprise after many economists had expected that the economy would experience positive growth in the third [...]
Figures due at 1230 GMT will reveal if the US economy has exited recession.
The US entered the current recession in late 2007 and many analysts believe the world’s largest economy will have exited recession by experiencing positive growth of 3% in the third quarter (according to David Buik at BGC Partners). However, there are fears [...]