economy news and archive

UK economic growth hits six-month low

Growth in the UK economy has slowed in the three months to November to its weakest pace in six months. The economy grew by 0.3 percent in this period, down from 0.4 percent in the three months to October, according to new data by the Office for National Statistics (ONS). The economy grew by 0.2 percent in November, up from October’s 0.1 percent...

Retail

Luxury shoppers seize the day amid Turkey’s sliding currency

One country’s woes are a luxury shopper’s gain. As Turkey fights for its sliding lira, international luxury shoppers are taking advantage of its attractive prices for designer goods. Queues outside Chanel and Louis Vuitton this week saw Chinese, Middle Eastern and a plethora of nationalities hoping to score a designer bag at near bargain prices,...

Report

Consumer confidence dips as fear of increasing prices grows

UK consumer confidence in the economy, personal finances and future spend has seen a sharp decline this month according to Verdict Retail’s Consumer Confidence tracker, dropping 6.2 points to minus 26.3 points from August to September. As consumers worries over the fall out of the Brexit continue to surge amid a falling pound, more and more...

Fashion Featured

The economic impacts of NYFW

Everyone in the fashion industry has their calendar marked for New York Fashion Fashion, otherwise known as NYFW. With the biggest designer names in American fashion, some rising design stars, and even a select few international designers who choose to show in the big apple, it’s one of the most watched events on the entire fashion calendar all...

Apparel

August spending up

Consumer spending in August rose by 0.4%, the same increase as July and slightly ahead of analysts' expectations. Consumer spending data is of high importance as it accounts for some 70% of the US economy. On Friday, New York Federal Reserve Bank president, William Dudley, said the Federal Reserve might need to take more action to boost growth...