The biggest gain in consumer spending in a year probably helped the U.S. economy keep expanding in the first quarter even as fuel costs climbed, economists said before a report this week.
Gross domestic product, the value of all goods and services the nation produced, rose at a 2.5 percent annual rate after advancing 3 percent in the previous three months, according to the median forecast of 72 economists surveyed by Bloomberg News before the Commerce Department’s April 27 release. Consumer purchases that account for about 70 percent of the economy climbed by the most since the end of 2010, the survey showed.
A Gulf economy that is on the up and up
A strong set of fundamentals coupled to abundant resources, the Saudi economy is undergoing an upbeat phase. So states new findings from the International Monetary Fund in its recently-concluded Arti
Pakistan insurer to launch takaful products
Pakistan’s largest private insurance group will offer Shariah-compliant insurance products, or takaful, through its general and life units, adding further momentum to government efforts to expand the