Shoppers warm up economy

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MORECasino Insider: Here’s a look at San Manuel’s new high limit rooms, Asian restaurant The Commerce Department reported that personal spending surged 0.9 percent in January, the biggest advance in six months, reflecting strong demand for autos and other durable goods and for nondurable goods such as clothing. “You can’t keep a good consumer down and the American household is one great customer,” said Joel Naroff, chief economist at Naroff Economic Advisors. On Wall Street, investors were cheered by the economic reports. The Dow Jones industrial average rose 60.12 points to close at 11,053.53. The Dow had fallen 104.14 points on Tuesday, partly in response to downbeat comments from Google Inc.’s chief financial officer. Personal incomes rose a solid 0.7 percent in January. That reflected solid wage growth during the month and a number of special factors, including a 4.1 percent cost-of-living increase for Social Security recipients and the start of the government’s new prescription drug benefit. Without the special factors, personal income would have risen a smaller 0.4 percent in January. Economists said the strong gain in spending meant overall economic growth, which slowed to a 1.6 percent rate in the October-December period, was rebounding strongly to perhaps above 5 percent in the current quarter. Consumer spending accounts for two-thirds of total economic growth. Also helping boost the economy is a resurgent manufacturing sector, which was the hardest-hit part of the economy during the 2001 recession. The Institute for Supply Management reported that its closely watched manufacturing gauge rose to a three-month high of 56.7 in February, up from 54.8 in January, as the index for new orders jumped to the highest level in 16 months. “The economy retains ample momentum early in 2006,” said Stephen Stanley, chief economist at RBS Greenwich Capital. He said the level for the manufacturing gauge was consistent with overall economic growth above 5 percent. However, a third report showed that construction spending managed only a 0.2 percent increase in January, the weakest gain in seven months and far below the 1 percent that analysts had been expecting. A big reason for the slowdown was a tiny 0.1 percent increase in private home building, the poorest monthly performance since an actual decline of 0.4 percent last June. It was a further indication that residential construction, which has enjoyed five boom years, is beginning to slow. Sales of both new and existing homes fell in January despite the warm weather and economists are predicting that continued increases in mortgage rates will slow housing further in coming months. The bigger rise in spending in January compared to incomes kept the personal savings rate in negative territory at a minus 0.7 percent. That meant Americans spent more than their after-tax incomes, which forced them to dip into prior savings or increase their borrowing. For all of 2005, the savings rate registered a negative 0.4 percent, the first time the savings rate has been in negative territory for an entire year since the Depression years of 1932 and 1933. Economists said this is the wrong time for the savings rate to dip into negative territory with the looming retirement of 78 million baby boomers. Part of the reason for the dip in the rate of savings is that Americans who own homes felt more wealthy in recent years given the huge increases in home values. However, the Federal Reserve reported last week that even with the rise in home values, net worth, the difference between assets and liabilities, grew in 2001-2004 at the slowest pace in more than a decade. An inflation gauge closely watched by the Fed showed that prices excluding energy and food rose by 1.8 percent for the 12 months ending in January, a slight improvement from a 1.9 percent increase for the 12 months ending in December. WASHINGTON – The warmest January in more than 100 years lured consumers out to the shopping malls to spend money at the fastest clip in six months, giving a strong boost to the economy as the new year began. The nation’s factories were also enjoying good times with a closely watched gauge of manufacturing activity posting a strong increase in February. But despite the warm weather, construction spending grew far below expectations in January as home building, the economy’s stand-out performer for many years, managed only a tiny increase. Still, analysts said the various reports released Wednesday pointed to an economy that is shaking off the blows from the hurricanes and soaring energy prices dealt in the final three months of last year to grow at a solid pace in the first three months of this year. last_img read more

How much money every Premier League club has spent so far this transfer window

first_img 20 The signing of Rodri from Atletico Madrid (£62.6m) from Atletico Madrid means he becomes Man City’s club record signing.Guardiola has activated City’s clause to re-sign Spanish defender Angelino from PSV Eindhoven.The 22-year-old left City last summer and played every game for PSV last season in the Eredivisie as they finished second behind Ajax – he was also named in the Dutch division’s Team of the Season.Manchester City signed the Spaniard back for £5.3mand have also completed a deal to sign United States international Zack Steffen for around £7m.City have signed right-back Joao Cancelo for £60m from Juventus with Danilo heading in the opposite direction and another defender Pedro Porro signed for £10.5m.Manchester United – £146million Mateo Kovacic will be hoping to cement a place under new boss Frank Lampard LATEST 20 Man United transfer news live: Haaland ‘wants a change’, two players off in January Crystal Palace have signed Swansea striker Jordan Ayew for £2.5m.The Eagles have also added 31-year old goalkeeper Stephen Henderson on a free transfer from Nottingham Forest and Gary Cahill from Chelsea.James McCarthy has also arrived from Everton for £3m and Victor Camarasa, who spent last season at Cardiff, joins on loan from Real Betis.Everton – £110million targets Liverpool update ‘Champions Wall’ after ending 2019 as European and world champions TROPHY 20 Getty 20 New job Liverpool news live: Klopp reveals when Minamino will play and issues injury update Tottenham made two signings in one day this summer, the first being Jack Clarke from Leeds for a fee which could rise to £11m, closely followed by the club-record signing of Frenchman Tanguy Ndombele from Lyon for £55.5m.Clarke, meanwhile, joins after an exciting breakthrough season at Leeds United in the Championship, where the 18-year old made 22 appearances under Marcelo Bielsa’s promotion chasers.He has gone straight back to his former club on loan.Spurs have finally landed talented teenager Ryan Sessegnon from Fulham for £25m.Watford – £30.5million So far this transfer window, Eddie Howe’s Cherries have signed two players – both from the Football League.Left-back Lloyd Kelly, who can also play as a centre-back, signed for £13m from Championship side Bristol City, while fellow defender Jack Stacey joins from Luton Town in a deal worth £4m.Philip Billing has signed on a five-year deal for £15m and Ducth winger Arnaut Danjuma cost £13.7m from Club Bruges.Brighton & Hove Albion – £62.5million The Canaries prepare for their first season back in the top flight since being relegated in 2016 and have done some sensible business.Perhaps their two most impressive signings so far come from Germany with Schalke keeper Ralf Fahrmann joining on a season-long loan for a £3m fee, while Josip Drmic joins on a free from Borussia Monchengladbach.Fahrmann has vast amounts of experience in the Bundesliga and Champions League, while Drmic is a Switzerland international who has played at two World Cups.Other signings who have joined are Daniel Adshead from Rochdale and midfielder Aidan Fitzpatrick from Scottish outfit Partick Thistle, for a combined £650,000.Sheffield United – £40million Young Brazilian striker Gabriel Martinelli has joined for £6m but it seems Arsenal are being priced out of moves for Wilfried Zaha and Ryan Fraser.William Saliba (£27m) has arrived and immediately returned to Saint-Etienne on loan and the club have broke their transfer record to sign Nicolas Pepe from Lille for £72m.The Gunners added Kieran Tierney from Celtic for £25m and surprisingly, David Luiz from Chelsea for £8m on deadline day.Aston Villa – £146million OFF FAREWELL getty getty The Hornets are another of the mid-table finishers who are yet to make any real impact in the transfer market this time round, only making one new signing in the shape of West Brom defender Craig Dawson.The 29-year old, signed for £5.5m, has previous experience in the Premier League with the Baggies. He made 153 top-flight appearances for West Brom.Danny Welbeck, who was released by Arsenal, arrives on a free and Watford broke their transfer record on deadline day to sign Ismaila Sarr from Rennes for £30m.West Ham United – £72million Getty Images Luiz has signed for Arsenal Daniel Farke’s newly promoted Norwich face a tough opening game at Anfield Rodri commanded the City midfield in the win over Liverpool 20 Pablo Fornals has been capped twice by Spain 20 REVEALED getty Former Crystal Palace and West Brom manager Pardew takes over at Dutch strugglers Everton first tied down Portuguese midfielder Andre Gomes, who spent last season on loan in Merseyside.The 25-year-old signed for £22m from Spanish champions Barcelona after impressing manager Marco Silva.The Toffees have also recruited Fabian Delph from Manchester City for £8.5m.Earlier on in the window, Danish goalkeeper Jonas Lossl signed from relegated Huddersfield on a free transfer as back-up and competition for their no 1 Jordan Pickford.In the past week, Jean Philippe-Gbamin (£22m) and Juventus striker Moise Kean (£29m) have come in.Alex Iwobi joined from Arsenal on a five-year contract on deadline day at a cost of £28m which could rise to £40m.Leicester City – £96million 20 20 Graham Potter will be gearing his squad up for another tough season in the top flight – his first Ralf Hasenhuttl has brought in two new attacking players – Che Adams and Moussa Djenepo – while he has also signed Danny Ings permanently on a £20m deal thanks to the Saints’ obligation to buy at the end of his loan spell.Ings finished as Southampton’s top scorer with eight goals and a further three assists last season, despite injury issues.Djenepo is a 21-year old winger who signed from Belgian side Standard Liege for £14m.Tottenham Hotspur – £66.5million Former player Phil Jagielka returns from Everton, having left the Blades in 2007.QPR playmaker Luke Freeman also made the move to Bramall Lane last month for a fee understands was in the region of £5m.The attacking midfielder scored nine goals at QPR last season in the Championship, as well as providing eight assists.Ireland international Callum Robinson has also joined from Preston for £7m, while Lys Mousset became the Blades’ record signing when he clinched a £10m deal on July 21.Ravel Morrison will add plenty of quality on a one-year deal, and Oli McBurnie cost £18m from Swansea.Southampton – £49million So far in this window Jurgen Klopp has made two new signings, with 17-year-old Sepp van den Berg joining from PEC Zwolle in the Dutch Eredivisie for £1.3m.Van den Berg is considered to be one for the future as Klopp aims at developing the Dutch defender.The Reds have also added 16-year-old Harvey Elliott from Fulham.Manchester City – £138.4million French striker Sebastian Haller has joined the club in a deal worth a whopping £45m, after a move for Maxi Lopez fell through – with the Uruguayan opted to join Valencia instead.The Hammers have also welcomed two Spaniards to their squad ahead of the 2019/20 Premier League season in the form of Pablo Fornals and Roberto from Villarreal and Espanyol respectively.International ace Fornals joins for a fee of £24m having contributed to five goals (scoring three and picking up two assists) in 35 games in LaLiga, although it was his 2016/17 campaign which really caught the eye.Roberto, meanwhile, is an experienced goalkeeper at 33-years-old, and will provide competition for Polish international and current number one, Lukasz Fabianski and provide a good second keeper throughout the domestic competitions.Another goalkeeper, David Martin, has also joined on a free transfer to offer extra cover between the sticks.Albain Ajeti cost £8m from Basel.Wolverhampton Wanderers – £68million Manager Sean Dyche has brought in four new arrivals so far, including former Southampton and West Brom striker Jay Rodriguez for £10m.The first £5m of the deal will be paid now and a further £5m next summer.Dutch defender Erik Pieters arrives from Stoke, for £1.5m.Youngster Joel Senior arrives from non-league side Curzon Ashton who signs on a season-long deal with the option of a year extension, while Under-23 defender Ryan Cooney has joined on loan, likewise Danny Drinkwater from Chelsea.Chelsea – £40.2million Getty 20 Andy Carroll returns to Newcastle after eight years Dealine day signings took spending by clubs up to £1.41bn, just short of the £1.43bn record set in 2017.Harry Maguire was the most expensive buy of the summer, costing Manchester United £80m to get him from Leicester.Arsenal have recruited to bolster their defence, Aston Villa and Everton are among the sides to both have busy windows, while Liverpool have been uncharacteristically quiet.But who has spent what so far? take a look at the figures. 20 Former Swansea boss Graham Potter is now in the hotseat at the Amex and has added Matthew Clarke from Portsmouth, with the fee estimated to be in the region of £5m.Belgian winger Leandro Trossard joined from Genk for £15m, while Taylor Richards comes from Manchester City in a £2.5m deal.Neal Maupay joined from Brentford for £20m and the same fee was paid to Bristol City for Adam Webster.Burnley – £14 million BIG PRESENTS UP TOP Getty Images – Getty getty center_img 20 Jonas Lossl joined Everton as back-up to Jordan Pickford – he was their first summer signing deals getty 20 20 Redknapp calls Son ‘petulant’, but Holloway says red card for Rudiger kick was ‘soft’ Matic one of two players for sale with ‘two Premier League clubs’ interested Gary Cahill joined from Chelsea What every Premier League club’s fans dream of this Christmas Nuno Espirito Santo’s side Wolves, had a season to remember 20 getty 20 Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ Youri Tielemans is Leicester’s record signing after a £40million transfer from Monaco Summer transfer windows are never quiet in the Premier League and the 2019 edition has been no different.This year, we have seen several surprising transfers, while other teams have been calculated with their business ahead of the new season which starts on Friday. Getty Images – Getty Getty Images Newcastle United’s first signing of the window was in the dugout as they replaced Rafa Benitez with ex-Sheffield Wednesday manager Steve Bruce.The most noteworthy loss is Spaniard Ayoze Perez who has joined Leicester City in a £30m move.To appease the frustrated Toon faithful, Newcastle have now finally splashed some cash, spending £40m to land Brazil striker Joelinton from Hoffenheim.They have also completed the double signing of ex-Chelsea midfielder Kyle Scott and goalkeeper Jake Turner and skilful attacker Allan Saint-Maximin for £16.5m.Andy Carroll has returned to his boyhood club on a free transfer, eight years after leaving for Liverpool.Norwich City – £3.65m Danny Drinkwate has arrived on loan The biggest market value losers in 2019, including Bale and ex-Liverpool star Getty Images 20 Believe it or not, Aston Villa are the front-runners in this current transfer window with the newly-promoted side splashing out over £100m to date.Signings so far include Tyrone Mings (£26.5m), Ezri Konsa (£12m), Matt Targett (£15m), Jota (£4m), Wesley Moraes (£22m) and latest recruit Egypt winger Mahmoud ‘Trezeguet’ Hassan (8.5m).They have since added Tom Heaton (£8m), Douglas Luiz (£15m) and midfielder Marvelous Nakamba (£11m).Aston Villa will be aware of what happened to Fulham last year, who spent close to £150m in the 2018 summer window, where it didn’t turn out well for the Cottagers.They spent big, brought in vast amounts of new players, and got relegated that season – something Villa boss Dean Smith will be hoping doesn’t happen to his side.Bournemouth – £45.7million getty Where every Premier League club needs to strengthen in January Jagielka has left Everton after 12 seasons at the club Harry Maguire cost United £80m Danny Ings joined the Saints on a permanent deal after being on loan at St Mary’s last season, finishing as their top scorer 20 LATEST FOOTBALL STORIES 20 Arsenal – £118.5million Getty Images – Getty getty images Ole Gunnar Solskjaer’s side landed England Under-21 right-back Aaron Wan-Bissaka for £50m from Crystal Palace, a transfer anticipated since January, with Manchester United struggling defensively and needing to replace Antonio Valencia.The Red Devils’ first signing was Daniel James from Championship side Swansea for £15m and they have since made Harry Maguire the most expensive defender in the world, paying Leicester £80m.Newcastle United – £56.5m Kelly leaves Bristol City after two promising seasons in the Championship latest Chelsea have made one permanent signing, with the transfer ban restricting their activity in the transfer market.Mateo Kovacic signs from Real Madrid as part of a clause in the player’s contract when he was on loan at the Blues last season.The Croatian international was still classed as a Chelsea player until the start of July meaning they could exercise their option to buy the player.Crystal Palace – £6million Danny Welbeck joined from West Ham Tyrone Mings won promotion to the Premier League with Aston Villa via the Playoff’s in 2018/19 The young dutch defender is the only piece of business the Reds have made so far Wolves enjoyed a memorable first season back in the Premier League as they finished in seventh and earned themselves a place in the Europa League qualifiers, entering in the second phase.For a team who had just been promoted, they had a squad who merited their top ten finish, with players such as Ruben Neves, captain Conor Coady and goalkeeper Rui Patricio instrumental to their success.Mexican forward Raul Jimenez who spent last season on-loan at Mollineux from Benfica, signed for £31m, a club-record. Brendan Rodgers has signed Belgian midfielder Youri Tielemans on a permanent deal from Monaco, for a club-record £40m, having fended off interest from Manchester United to get the deal over the line.Tielemans spent the back end of the 2018/19 season on loan with the Foxes, making 13 appearances in the Premier League, scoring three goals and assisting five.On top of this, Rodgers spent big again to acquire the services of Spanish forward Ayoze Perez from Newcastle for £30m.Another player who has joined Tielemans and Perez is James Justin from newly-promoted Championship side, Luton Town for an undisclosed fee thought to be £8m.Former Arsenal target Dennis Praet cost £18m from Sampdoria.Liverpool – £1.3million Getty Ndombele arrived for £55.5m 20 20 Video Player is loading.Play VideoPlayMuteCurrent Time 0:00/Duration 0:45Loaded: 22.01%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:45 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreen Premier League ‘big six’ are destroying England’s top flight with their wealthAnother recruit who has now moved to Wolves on a permanent basis is Belgian international Leander Dendoncker. He joins from Anderlecht in a deal worth £12m.AC Milan striker Patrick Cutrone joins for a fee of £16m and Bruno Jordão cost £7.2m from Lazio.last_img read more