American consumer spending probably continued to recover in February from the slump caused by colder temperatures and snowstorms, while U.S. factories received more orders for big-ticket goods, economists project reports will show this week.
Unemployment in the U.K. fell to the lowest level since April 2009, China’s economy cooled and U.S. sales of existing homes last year were the strongest since 2006, economic reports are projected to show this week. Elsewhere, price data will dominate, with Brazil likely to show consumer inflation in the month through mid-January rising by the most in a year, while pricing power in Australia also picked up in the fourth quarter.
Gains in consumer spending probably continued to drive the U.S. economic expansion at the end of 2013 as sales at non-auto retailers climbed during the holidays. Elsewhere, inflation in the U.K. probably held at a four-year low in December, Brazil’s central bank may slow the pace of monetary tightening, and Australia’s employment growth cooled.
Mark Carney’s first six weeks as Bank of England governor will test his ability to turn activist rhetoric into policy reality as he seeks to accelerate the struggling U.K. economy to what he calls “escape velocity.”
Top Bordeaux 2011 wines including Chateau Lafite-Rothschild and Chateau Cos d’Estournel are selling for between 30 percent and 45 percent below recent vintages after investment demand for the exceptional 2009s and 2010s sapped buyers’ appetite for less-powerful new clarets.