U.S. consumer-spending jump brightens outlook
WASHINGTON – U.S. consumers boosted their spending in February by the most in seven months, raising expectations for stronger growth at the start of the year.
Americans spent more even as their income barely grew. To make up the difference, many cut back on saving.
Consumer spending rose 0.8 percent last month, the Commerce Department said Friday. The biggest increase since July coincided with the best three-month hiring stretch in two years.
Paul Dales, an economist at Capital Economics, suggested that estimated annual growth for the economy in the current January-March quarter may be revised up — to around 2.5 percent, compared with earlier estimates of about 2 percent. Consumer spending drives roughly 70 percent of economic activity.
Some of the higher spending last month reflected surging gas prices.
11 area buildings on Florida’s Top 100 list
The buildings that give Florida its special sense of place are being celebrated by the American Institute of Architects in an online competition.
AIA-Florida’s “Top 100 Buildings & Places” gives the public the chance to vote for its favorite Florida structures from a list of 100 actually 109 iconic buildings, from Cà d’Zan in Sarasota to the Fontainebleu Hotel in Miami.
Voting continues through April 6 at www.aiafltop100.org. Voters also can write in their own nominees.
The event is part of AIA-Florida’s 100th anniversary celebration.
Yokohama refocuses on SUV market
Yokohama Tire Sales (Thailand) Co introduced new tyres especially for sport-utility vehicles, expecting to sell 20,000 tyres this year for a 20% share of overall demand in the SUV segment.
The Japanese manufacturer hopes the new tyres available in April will help it sell 300,000 tyres in all vehicle segments this year, a 5-10% market share.
Some 650,000 Geolandar SUV Go-055 tyres are produced at Yokohama’s Rayong plant per year, with 20,000 slated for domestic demand and 630,000 for export markets in Asia and Europe.
It focused on SUVs after market research found more of these vehicles were used in urban areas.
The SUV tyres will run from 3,100 baht to 13,000 baht apiece with extras.
Yutaka Furukawa, the director of Yokohama’s Thai subsidiary, said the company planned to focus on quality and service rather than sales volume.
Though Yokohama supplies relatively few carmakers in Thailand, the replacement market remains promising, he said.
Mr Furukawa said the company did not plan to increase retail prices to offset the higher cost of production thanks to rising fuel prices and the minimum wage hike to 300 baht per day.
Meagre French growth offers Sarkozy little relief
France eked out economic growth of 0.2 per cent in the last quarter of 2011, avoiding recession but with stagnating purchasing power, giving President Nicolas Sarkozy little respite ahead of next month’s presidential election.
Confirming preliminary estimates, the fourth-quarter data from the INSEE national statistics agency on Wednesday showed France achieved growth of 1.7 per cent for the whole of 2011 and dodged the threat of a recession running up to the election.
Household spending, the traditional engine of growth in France’s consumer-focused economy, edged up 0.2 per cent in the fourth quarter even though purchasing power grew only 0.1 per cent when adjusted for inflation.
Opinion polls indicate that limp purchasing power and soaring unemployment are voters’ top concerns ahead of an election that takes place in two rounds on April 22 and May 6.
Nonetheless , Mr. Sarko
AirTran pilots begin transition to Southwest
The move for pilots comes as the airline prepares to unveil its first AirTran plane newly painted in Southwest colors — a milestone expected in April. Pilots are gradually shifting over to Southwest as the planes are converted over the next couple of years.
Dallas-based Southwest acquired Orlando-based AirTran last year, a deal that opened the door for Southwest to begin flying to Atlanta where AirTran has operated its largest hub. Southwest launched its service at Hartsfield-Jackson International Airport last month, though AirTran will continue flying for a couple of years.
The first class of 24 AirTran pilots begin training Wednesday at Southwest’s headquarters in Dallas.
The pilots are the third group to go from AirTran to Southwest.
Stock index futures point to slightly higher start
Thu Mar 29, 2012 4:56am EDT
n”> – Stock index futures pointed to a slightly higher open on Wall Street on Thursday, with futures for the Dow Jones and Nasdaq 100 both up 0.2 percent and S&P 500 futures up 0.1 percent at 0830 GMT.
European stocks were flat on Thursday, hovering around a three-week low as rallying mining shares offset losses in the energy sector, where Total extended its slide, hit by worries over a gas leak in the North Sea.
The Nikkei eased 0.7 percent to 10,114.79 as investors locked in profit from a meteoric January-March rally that is poised to be its best first-quarter performance in 24 years.
Roche Holding hiked its cash bid for U.S.
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