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Tag: December

Consumer spending in U.S. falls by $28 billion in December

Consumer spending in U.S. falls by $28 billion in December

Business
Jan. 29 (UPI) -- U.S. consumer spending in December decreased for the second straight month, but at a smaller rate than the previous month, the Commerce Department said in its monthly report Friday. Personal consumption expenditures fell by $ 28 billion, the report said, a decline of 0.2%. The decline for November was 0.7%. Advertisement The department said personal income for December increased by $ 116.6 billion while disposable income rose $ 111.6 billion. Real personal expenditures, meanwhile, decreased by almost $ 80 billion. Spending on recreational goods and vehicles lost the most ground, along with food services and accommodations. Higher spending was found in motor vehicles and healthcare. "The December estimate for personal income and outlays were impacted by the response to the...
U.S. retail sales declined in December, but were better than 2019, Commerce Dept. says

U.S. retail sales declined in December, but were better than 2019, Commerce Dept. says

Business
Jan. 15 (UPI) -- Retail sales in the United States continued to slide in December for the third straight month, the Commerce Department said in is monthly economic assessment Friday. Seasonally adjusted retail and food sales for December totaled $ 541 billion, a decline of 0.7% from November, the department said in its report. Advertisement The overall non-adjusted sales figure, however, is still 3% better than it was in December 2019. The report also said total sales for all 12 months of 2020 was up 0.6% over 2019. The report also revised its November estimate down from the initially reported 1.1% decline to 1.4%. Economists expect the $ 900 billion COVID-19 stimulus package that Congress passed last month to improve retail sales for January. Retail sales in the United States have been a...
Life insurance sector’s new business premium declines 3 per cent in December

Life insurance sector’s new business premium declines 3 per cent in December

Finance
NEW DELHI: The new business premium of life insurance industry contracted by 3 per cent year-on-year to Rs 24,383.42 crore in December. The new business or the first-year premium of 24 life insurance companies was Rs 25,079.89 crore in the same month of 2019. The country's largest life insurer LIC contributed Rs 14,345.70 crore or 58 per cent to the total premium generated during the month, showed data from the Insurance Regulatory and Development Authority of India (Irdai). LIC's new business premium declined by 15 per cent from Rs 16,861.98 crore in December 2019. Private sector comprising of 23 players registered a growth 22 per cent by earning new premium of Rs 10.037.72 crore in December, as compared to Rs 8217.91 crore in the year-ago period. Among private sector life insurers, Bajaj...
HDFC’s individual loan disbursements rise 26 pc in December quarter

HDFC’s individual loan disbursements rise 26 pc in December quarter

Finance
New Delhi: Mortgage firm HDFC Ltd on Monday said its disbursements in the individual loan category have grown by 26 per cent during the third quarter ended December 2020. The individual loan business continued to see improvements during the December quarter, HDFC Ltd said in a regulatory filing. "Disbursement growth over the corresponding quarter of the previous year was 26 per cent. For the nine months ended December 31, 2020, individual loan disbursements stood at 86 per cent of the levels in the corresponding period of the previous year," it said. During the quarter ended December 31, 2020, the profit on sale of investments was Rs 157 crore, it said, adding this was on account of the sale of 25,48,750 equity shares of HDFC Life Insurance Company Limited (HDFC Life). HDFC's sharehold...
How gold, silver performed during the week ending December 30, 2020

How gold, silver performed during the week ending December 30, 2020

Finance
The scope and attractiveness of alternative investments is increasing. Here’s a weekly tracker of returns from such investments. But don’t compare these with returns from traditional investments since the proportion and purpose of alternative investments is vastly different. Gold (995) (Rs) Weak US dollar has helped gold to recover the losses and end the week on a flat note near the Rs 50,000 per 10-gram mark. Silver (Rs) The short term outperformance of silver continues on industrial demand and it ended the week with a gain of 2%. Platinum ($ /troy ounce) Industrial demand has helped platinum to gain 4.26% during the past week. The metal has hit a new 52 week high now. WTI Crude ($ /barrel) Crude oil prices remained flat because the fear of production increase by Opec+ in January neutra...