Hard seltzer is ‘here to stay,’ says CEO of Bud Light’s parent

Anheuser Busch InBev is betting on hard seltzer as beer consumption continues to fall in the United States. “It is something that’s profitable, it’s here to stay,” CEO Carlos Brito said on CNBC’s “Squawk Box” on Tuesday. The Bud Light brewer owns Bon & Viv, one of the top three seltzer brands, along with White Claw and Boston Beer’s Truly. But it also sells seltzer from Natural Light, one of its beer brands, and will showcase its new Bud Light Seltzer with a Super Bowl advertisement. U.S. beer c


Anheuser Busch InBev is betting on hard seltzer as beer consumption continues to fall in the United States.
“It is something that’s profitable, it’s here to stay,” CEO Carlos Brito said on CNBC’s “Squawk Box” on Tuesday.
The Bud Light brewer owns Bon & Viv, one of the top three seltzer brands, along with White Claw and Boston Beer’s Truly.
But it also sells seltzer from Natural Light, one of its beer brands, and will showcase its new Bud Light Seltzer with a Super Bowl advertisement.
U.S. beer c
Hard seltzer is ‘here to stay,’ says CEO of Bud Light’s parent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: amelia lucas
Keywords: news, cnbc, companies, consumers, lights, consumption, light, ceo, seltzer, alcohol, hard, brewer, parent, stay, inbev, brands, bud, beer


Hard seltzer is 'here to stay,' says CEO of Bud Light's parent

Anheuser Busch InBev is betting on hard seltzer as beer consumption continues to fall in the United States.

“It is something that’s profitable, it’s here to stay,” CEO Carlos Brito said on CNBC’s “Squawk Box” on Tuesday.

The Bud Light brewer owns Bon & Viv, one of the top three seltzer brands, along with White Claw and Boston Beer’s Truly. But it also sells seltzer from Natural Light, one of its beer brands, and will showcase its new Bud Light Seltzer with a Super Bowl advertisement.

U.S. beer consumption has been declining in recent years as consumers choose other kinds of alcohol or opt out of drinking alcohol altogether. In 2019, it fell by 2.3%, according to data from IWSR.

Hard seltzer, on the other hand, was the drink of the summer in 2019. It has roughly the same alcohol by volume as a beer and a low-calorie count, which appeals to health conscious consumers who have turned away from beer. The alcoholic beverage makes up 2.6% of the total U.S. market for alcohol, up from 0.85% a year ago, according to the IWSR.

AB InBev is not the only brewer diversifying its portfolio as consumer tastes change. Rival Molson Coors Beverage changed its name in January as it looks to non-beer drinks for future sales growth.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: amelia lucas
Keywords: news, cnbc, companies, consumers, lights, consumption, light, ceo, seltzer, alcohol, hard, brewer, parent, stay, inbev, brands, bud, beer


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Brewers embrace Dry January as US beer consumption declines

But brewers like Molson Coors Beverage and Heineken are trying to use the monthlong sobriety challenge to promote their beer. Since then, the movement has spread worldwide, including the United States, where overall alcohol consumption continues to fall. The firm, which tracks alcohol trends, found that cider and hard seltzers are taking share from beer. The campaign comes as Molson Coors tries to adapt to consumers’ shifting tastes — even by changing the company name. In January, the company’s


But brewers like Molson Coors Beverage and Heineken are trying to use the monthlong sobriety challenge to promote their beer.
Since then, the movement has spread worldwide, including the United States, where overall alcohol consumption continues to fall.
The firm, which tracks alcohol trends, found that cider and hard seltzers are taking share from beer.
The campaign comes as Molson Coors tries to adapt to consumers’ shifting tastes — even by changing the company name.
In January, the company’s
Brewers embrace Dry January as US beer consumption declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-02  Authors: amelia lucas
Keywords: news, cnbc, companies, consumption, molson, consumers, according, trends, beer, alcohol, brewers, dry, coors, overall, declines, embrace, united


Brewers embrace Dry January as US beer consumption declines

Americans are drinking less beer, encouraged by trends like Dry January. But brewers like Molson Coors Beverage and Heineken are trying to use the monthlong sobriety challenge to promote their beer.

Dry January started in the United Kingdom in 2013. Since then, the movement has spread worldwide, including the United States, where overall alcohol consumption continues to fall. Over one-fifth of Americans participated in Dry January in 2019, according to Nielsen.

And some consumers, dubbed “sober curious,” are also making an effort to reduce their alcohol intake during the other 11 months of the year.

That shift, as well as competition from other kinds of alcohol, is hitting beer companies.

U.S. beer volumes declined by 1.6% in 2018, according to data from IWSR. The firm, which tracks alcohol trends, found that cider and hard seltzers are taking share from beer. Younger consumers are drinking less overall, including beer.

But all hope is not lost for brewers. No- and low-alcohol beer is the fifth-fastest growing type of beer in the U.S., according to Nielsen. According to IWSR data, the most frequent consumers of low- and no-alcohol drinks are between 21 to 44 years old — an age bracket that mostly includes millennials, with some Generation X consumers — and male.

Molson Coors is promoting its low-alcohol beer Miller64 through an advertising campaign, starring Nicholas Braun of “Succession,” asking consumers to participate in “Dry-ish January.” Miller64, which relaunched in September, is aimed at health-conscious drinkers with its low-calorie count.

The campaign comes as Molson Coors tries to adapt to consumers’ shifting tastes — even by changing the company name. In January, the company’s name changed from Molson Coors Brewing Co. to Molson Coors Beverage Co. It also announced a restructuring effort that will result in 400 to 500 lost jobs.

Heineken launched its nonalcoholic beer, Heineken 0.0, in the U.S. in January last year. This year, the brewer is giving away cans of the alcohol-free beer in its January Dry Pack. Customers can claim the free 31-pack at januarydrypack.com.

Anheuser-Busch InBev tested Budweiser 0.0 in certain U.S. markets in 2019. The drink launched in India last year, but the company has not shared any plans to introduce it stateside. Anheuser-Busch’s nonalcoholic portfolio also includes O’Doul’s, the best known alcohol-free beer in the U.S.


Company: cnbc, Activity: cnbc, Date: 2020-01-02  Authors: amelia lucas
Keywords: news, cnbc, companies, consumption, molson, consumers, according, trends, beer, alcohol, brewers, dry, coors, overall, declines, embrace, united


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Falling tuna consumption didn’t crush Bumble Bee, but it didn’t help

That’s one reason why Bumble Bee Foods filed filed for Chapter 11 bankruptcy Thursday as it prepares to sell itself. Consumers’ desire for more convenience is one contributing factor to the decline of canned tuna consumption. From 1998 to 2017, U.S. canned tuna consumption per capita declined by 38%, according to data from the U.S. Department of Agriculture. Furthermore, like many other traditional food companies, Bumble Bee has struggled to keep up with changing tastes as consumers turn away fr


That’s one reason why Bumble Bee Foods filed filed for Chapter 11 bankruptcy Thursday as it prepares to sell itself.
Consumers’ desire for more convenience is one contributing factor to the decline of canned tuna consumption.
From 1998 to 2017, U.S. canned tuna consumption per capita declined by 38%, according to data from the U.S. Department of Agriculture.
Furthermore, like many other traditional food companies, Bumble Bee has struggled to keep up with changing tastes as consumers turn away fr
Falling tuna consumption didn’t crush Bumble Bee, but it didn’t help Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-22  Authors: amelia lucas
Keywords: news, cnbc, companies, harris, starkist, consumption, didnt, canned, falling, sea, market, crush, according, help, bee, bumble, tuna


Falling tuna consumption didn't crush Bumble Bee, but it didn't help

For decades, the can opener and a tin of canned tuna were considered “pretty darn convenient,” according to Ken Harris, managing partner at Cadent Consulting Group, who has worked with the canned tuna business.

But now, they’re considered a hassle.

That’s one reason why Bumble Bee Foods filed filed for Chapter 11 bankruptcy Thursday as it prepares to sell itself. The company, which also sells canned sardines and salmon, holds 22% of the market share in the shelf-stable seafood category, according to Euromonitor.

Consumers’ desire for more convenience is one contributing factor to the decline of canned tuna consumption. From 1998 to 2017, U.S. canned tuna consumption per capita declined by 38%, according to data from the U.S. Department of Agriculture.

Another contributing factor to tuna’s decline: the fear of mercury poisoning, sparked by a 2004 joint advisory from the Food and Drug Administration and the Environmental Protection Agency that cautioned against eating too much of the canned fish.

Furthermore, like many other traditional food companies, Bumble Bee has struggled to keep up with changing tastes as consumers turn away from processed foods.

Bumble Bee and its rivals StarKist and Chicken of the Sea, have been trying to appeal to younger consumers by introducing new flavors like sriracha and doubling down on tuna pouches, rather than canned tuna.

“Consumers really want something that is prepared and ready to go,” Harris said. “New packaging hasn’t necessarily been the answer.”

The three largest tuna companies are also facing competition from upstarts like Wild Planet Foods and Safe Catch, which market their tuna as safer and higher quality.

While falling tuna consumption hurt Bumble Bee, the crushing blow was its mounting debt burden, the result of recent legal struggles.

In 2017, the company pleaded guilty for price fixing and was fined $25 million for forming a cartel with Chicken of the Sea and StarKist. The Department of Justice is its second-largest creditor, according to bankruptcy filings. Bumble Bee is also facing lawsuits related to the matte.


Company: cnbc, Activity: cnbc, Date: 2019-11-22  Authors: amelia lucas
Keywords: news, cnbc, companies, harris, starkist, consumption, didnt, canned, falling, sea, market, crush, according, help, bee, bumble, tuna


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Chinese tourism growth slows as overseas travel loses its luster

BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate. “Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.” Tourism growth slowed during another go


BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate. “Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.” Tourism growth slowed during another go
Chinese tourism growth slows as overseas travel loses its luster Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: evelyn cheng
Keywords: news, cnbc, companies, tourism, chinese, travel, golden, loses, data, consumption, slows, day, days, growth, oct, overseas, week, holiday, million, luster


Chinese tourism growth slows as overseas travel loses its luster

XIAOSHAN AIRPORT, HANGZHOU, ZHEJIANG PROVINCE, CHINA: An outbound tourist group is waiting for check-in in front of the counter of China Customs. Chinese nationals have become the largest number of foreign tourists visiting other countries in 2015 as the number of outbound visitors crossed 120 million, registering an 11 million increase from last year.

BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate.

The seven-day vacation from Oct. 1 to Oct. 7 is dubbed “Golden Week” and is one of the few major government-mandated holidays in a country where personal vacation days are few. This year’s National Day was particularly significant domestically since it revolved around massive celebrations on Oct. 1 for the 70th anniversary of the Communist Party’s rule.

Chinese tourist sites received 782 million visits during the holiday, up well over 7% from last year’s 726 million, according to the Ministry of Culture and Tourism. But, that’s slower than reported growth of more than 9% in 2018, and down from a 10% increase in 2017.

Retail and food and beverage sales from Oct. 1 to Oct. 7 grew 8.5% to 1.52 trillion yuan ($212.7 billion), according to the Ministry of Commerce. While a solid figure, that’s a slower pace than the Commerce Ministry’s claims of nearly 10% or higher growth for previous years.

“Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.”

Chinese authorities are trying to boost domestic consumption in an effort to support economic growth. Shortly after a major government meeting in March, authorities announced the May 1 Labor Day holiday would be extended by two days by swapping those working days with weekends, as is typical in China.

Tourism growth slowed during another golden week this year, the Lunar New Year holiday in February. Official numbers for overseas travel during that period were not clear about the actual rate of change.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: evelyn cheng
Keywords: news, cnbc, companies, tourism, chinese, travel, golden, loses, data, consumption, slows, day, days, growth, oct, overseas, week, holiday, million, luster


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Study suggests eating less red and processed meat may not improve your health—but there’s a catch

Most of us have heard that red meat and processed meat is not great for your health and should only be consumed in small amounts. Previous studies have linked red and processed meat intake to an increase in certain cancers and heart disease. The rise of plant-based meat alternatives, such as Beyond Meat and Impossible Foods, has made reducing or eliminating red meat from your diet easier than ever. NutriRECS determined that there’s “low- to very low-certainty evidence” that reducing red and proc


Most of us have heard that red meat and processed meat is not great for your health and should only be consumed in small amounts. Previous studies have linked red and processed meat intake to an increase in certain cancers and heart disease. The rise of plant-based meat alternatives, such as Beyond Meat and Impossible Foods, has made reducing or eliminating red meat from your diet easier than ever. NutriRECS determined that there’s “low- to very low-certainty evidence” that reducing red and proc
Study suggests eating less red and processed meat may not improve your health—but there’s a catch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: cory stieg
Keywords: news, cnbc, companies, public, study, improve, experts, health, meat, processed, consumption, cancer, theres, eating, red, catch, suggests, understanding, group, healthbut


Study suggests eating less red and processed meat may not improve your health—but there's a catch

Most of us have heard that red meat and processed meat is not great for your health and should only be consumed in small amounts.

Previous studies have linked red and processed meat intake to an increase in certain cancers and heart disease. The rise of plant-based meat alternatives, such as Beyond Meat and Impossible Foods, has made reducing or eliminating red meat from your diet easier than ever.

But new guidelines published Tuesday in the Annals of Internal Medicine flip this long-held understanding on its head.

The new analysis was conducted by NutriRECS, an independent group of nutritionists and health researchers, who says its mission is to “produce trustworthy nutritional guideline recommendations based on the values, attitudes and preferences of patients and community members.”

NutriRECS determined that there’s “low- to very low-certainty evidence” that reducing red and processed meat consumption will reduce the risk for developing heart disease or dying from cancer. The group essentially recommends that adults should “continue current unprocessed red meat” and “processed meat” consumption, rather than scale back.

But a large number of nutrition experts and physicians are not board with NutriRECS’ findings. Most of the pushback has to do with the way that the findings were construed and the severity of the recommendations.

In fact, experts from the Harvard T. Chan School of Public Health said in a blog post that the paper’s aim is “puzzling” and the reasons for their recommendations are “problematic.”

A separate group of physicians and public health experts from the True Health Initiative, an organization aimed at “fighting fake facts,” wrote a collective letter pleading the authors not to publish the paper “for the sake of public understanding and public health.”

The American Cancer Society also issued a statement clarifying that, despite the news, they still “recommend limiting consumption of red and processed meat in order to save lives from cancer.”


Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: cory stieg
Keywords: news, cnbc, companies, public, study, improve, experts, health, meat, processed, consumption, cancer, theres, eating, red, catch, suggests, understanding, group, healthbut


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Charts show China’s explosive consumption of four critical commodities

The company is currently using soybeans imported from Brazil, after recently changing from U.S. soybeans. In just 40 years, China has grown to become the world’s largest buyer of a number of commodities — from soybeans to copper. “China’s influence across global commodity markets is without parallel,” said Wood Mackenzie, a commodities consultancy in a report earlier this year. China’s appetite for commodities has grown since the country’s economic reforms in 1978, tracking its rise to become th


The company is currently using soybeans imported from Brazil, after recently changing from U.S. soybeans. In just 40 years, China has grown to become the world’s largest buyer of a number of commodities — from soybeans to copper. “China’s influence across global commodity markets is without parallel,” said Wood Mackenzie, a commodities consultancy in a report earlier this year. China’s appetite for commodities has grown since the country’s economic reforms in 1978, tracking its rise to become th
Charts show China’s explosive consumption of four critical commodities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-25  Authors: huileng tan
Keywords: news, cnbc, companies, consumption, china, trade, countrys, markets, critical, explosive, grown, soybeans, various, worlds, commodities, charts, chinas, global


Charts show China's explosive consumption of four critical commodities

This photo taken on July 19, 2018 shows a worker loading sacks of animal feed made from soybeans at the Hopefull Grain and Oil Group in Sanhe, in China’s northern Hebei province. The company is currently using soybeans imported from Brazil, after recently changing from U.S. soybeans.

In just 40 years, China has grown to become the world’s largest buyer of a number of commodities — from soybeans to copper.

“China’s influence across global commodity markets is without parallel,” said Wood Mackenzie, a commodities consultancy in a report earlier this year.

China’s appetite for commodities has grown since the country’s economic reforms in 1978, tracking its rise to become the world’s second-largest economy.

Demand for raw materials like copper and steel have been largely driven by the country’s manufacturing and construction boom, as well as by the needs of its 1.4 billion population.

As Beijing commemorates the 70th anniversary of Communist China on Oct. 1 this year, there are looming concerns the country’s trade war with the U.S. could hurt the prices of commodities amid an expected global slowdown.

While trade tensions will continue to impact the markets, the medium-term outlook for various commodities will still see China being a major buyer even though the country’s economic growth is expected to moderate, said analysts. Trends such as shifts to cleaner energy will also help shape the sector.

These four charts show how much Chinese demand for various commodities has grown.


Company: cnbc, Activity: cnbc, Date: 2019-09-25  Authors: huileng tan
Keywords: news, cnbc, companies, consumption, china, trade, countrys, markets, critical, explosive, grown, soybeans, various, worlds, commodities, charts, chinas, global


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Reserve Bank of Australia holds cash rate at 1%

The Reserve Bank of Australia headquarters in the central business district of Sydney, Australia. Australia’s central bank kept its cash rate at an all-time low of 1% on Tuesday, expecting recent back-to-back policy easing to boost broader economic growth in coming quarters, though it left the door ajar for further cuts. The Reserve Bank of Australia’s (RBA) quarter-point reductions in June and July have struggled to gain traction amid tepid consumption at home and global uncertainty cast by the


The Reserve Bank of Australia headquarters in the central business district of Sydney, Australia. Australia’s central bank kept its cash rate at an all-time low of 1% on Tuesday, expecting recent back-to-back policy easing to boost broader economic growth in coming quarters, though it left the door ajar for further cuts. The Reserve Bank of Australia’s (RBA) quarter-point reductions in June and July have struggled to gain traction amid tepid consumption at home and global uncertainty cast by the
Reserve Bank of Australia holds cash rate at 1% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03
Keywords: news, cnbc, companies, growth, rbas, economic, consumption, uncertainty, australia, holds, reserve, coming, bank, australias, rate, cash, likely


Reserve Bank of Australia holds cash rate at 1%

The Reserve Bank of Australia headquarters in the central business district of Sydney, Australia.

Australia’s central bank kept its cash rate at an all-time low of 1% on Tuesday, expecting recent back-to-back policy easing to boost broader economic growth in coming quarters, though it left the door ajar for further cuts.

The Reserve Bank of Australia’s (RBA) quarter-point reductions in June and July have struggled to gain traction amid tepid consumption at home and global uncertainty cast by the Sino-U.S. trade dispute.

Indeed, data out earlier showed Australia’s household sector was battling miserly wage growth and subdued home prices with retail sales unexpectedly falling 0.1% in July. Annual growth braked to 2.4%, the slowest pace since the start of 2018.

RBA Governor Philip Lowe acknowledged domestic consumption was the main economic uncertainty, reiterating it was “reasonable to expect” lower for longer interest rates to help boost employment growth and inflation.

“The Board will continue to monitor developments, including in the labour market, and ease monetary policy further if needed,” to support growth and inflation targets, Lowe said in a short post-meeting statement.

Financial futures are pricing in a third cut to 0.75% by October and a fourth to 0.5% by early next year.

Lowe held out hope for stronger consumer spending in coming months helped by a pick-up in household disposable income from recent tax cuts and a “stabilisation” of the country’s subdued housing market.

However, the near-term outlook was quite downbeat.

Data out on Wednesday is likely to show Australia’s June quarter gross domestic product (GDP) growth paced below the RBA’s recently downgraded estimates, with housing construction and private consumption the biggest drags.

A median of 20 economists’ forecasts shows the A$1.9 trillion economy likely expanded 0.5% in the second quarter compared with RBA’s expectations of 0.8%.

Annual growth is seen slowing to a decade low of 1.5%.

“The RBA sounded a touch more optimistic when it left interest rates on hold today, but we still think that further rate cuts over the coming months are likely,” said Ben Udy, Singapore-based economist at Capital Economics.

“We don’t think that the economy is out of the woods just yet…Jobs growth tends to lag economic activity and we still expect the unemployment rate to climb to 5.5% over the coming months.”

Australia has seen strong employment growth but the jobless rate has stayed above 5% since February this year, much higher than the RBA’s goal of 4.5%.


Company: cnbc, Activity: cnbc, Date: 2019-09-03
Keywords: news, cnbc, companies, growth, rbas, economic, consumption, uncertainty, australia, holds, reserve, coming, bank, australias, rate, cash, likely


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There’s no debt-fueled consumption boom in the UK, BOE’s Carney says

There’s no debt-fueled consumption boom in the UK, BOE’s Carney says6 Hours AgoBank of England Governor Mark Carney says U.K. households are “acting prudently.”


There’s no debt-fueled consumption boom in the UK, BOE’s Carney says6 Hours AgoBank of England Governor Mark Carney says U.K. households are “acting prudently.”
There’s no debt-fueled consumption boom in the UK, BOE’s Carney says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01
Keywords: news, cnbc, companies, carney, boes, consumption, mark, uk, households, england, boom, debtfueled, says6, theres, hours, governor, prudently


There's no debt-fueled consumption boom in the UK, BOE's Carney says

There’s no debt-fueled consumption boom in the UK, BOE’s Carney says

6 Hours Ago

Bank of England Governor Mark Carney says U.K. households are “acting prudently.”


Company: cnbc, Activity: cnbc, Date: 2019-08-01
Keywords: news, cnbc, companies, carney, boes, consumption, mark, uk, households, england, boom, debtfueled, says6, theres, hours, governor, prudently


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China’s consumption growth in 2019 will ‘very likely’ slow further, says commerce ministry

Consumption growth in China is “very likely” to slow further this year as the economy cools, the commerce ministry said on Tuesday, underlining the rising risks facing the Asian giant as it navigates a trade war with the United States. “The medium- to long-term accumulated contradictions and risks throughout economic development are going to become more prominent in 2019,” Wang Bin, a commerce ministry official told reporters during a briefing. “The pressure facing the consumer market will incre


Consumption growth in China is “very likely” to slow further this year as the economy cools, the commerce ministry said on Tuesday, underlining the rising risks facing the Asian giant as it navigates a trade war with the United States. “The medium- to long-term accumulated contradictions and risks throughout economic development are going to become more prominent in 2019,” Wang Bin, a commerce ministry official told reporters during a briefing. “The pressure facing the consumer market will incre
China’s consumption growth in 2019 will ‘very likely’ slow further, says commerce ministry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: tomohiro ohsumi, bloomberg, getty images
Keywords: news, cnbc, companies, commerce, risks, economic, facing, growth, sales, likely, consumption, ministry, market, trade, chinas, 2019, slow


China's consumption growth in 2019 will 'very likely' slow further, says commerce ministry

Consumption growth in China is “very likely” to slow further this year as the economy cools, the commerce ministry said on Tuesday, underlining the rising risks facing the Asian giant as it navigates a trade war with the United States.

Chinese authorities have already rolled out a flurry of support measures to temper the effects of the trade dispute on businesses and investment, and are counting on the nation’s vast consumer base to cushion a broader economic slowdown.

“The medium- to long-term accumulated contradictions and risks throughout economic development are going to become more prominent in 2019,” Wang Bin, a commerce ministry official told reporters during a briefing.

“The pressure facing the consumer market will increase and consumption growth is very likely to slow further.”

Wang said softness in retail sales last year, which saw growth averaging 9 percent for the slowest in 15 years, was due to “periodic” weakness in car sales and housing-related spending, though other categories continue to post “relatively normal” growth.

Sales in the world’s biggest auto market shrank for the first time since the 1990s.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: tomohiro ohsumi, bloomberg, getty images
Keywords: news, cnbc, companies, commerce, risks, economic, facing, growth, sales, likely, consumption, ministry, market, trade, chinas, 2019, slow


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China kicks off consumption drive with subsidies for Beijing shoppers

China’s push to stoke spending in the sluggish retail sector began on Friday with Beijing households given subsidies to buy electrical appliances, in the first of what is expected to be a barrage of incentives to revive private consumption. State media on Wednesday announced the incentives that give Beijing households subsidies of up to $120 every time they purchase a television or refrigerator. At a GOME outlet in downtown Beijing on Friday, a media executive visited the home appliance store de


China’s push to stoke spending in the sluggish retail sector began on Friday with Beijing households given subsidies to buy electrical appliances, in the first of what is expected to be a barrage of incentives to revive private consumption. State media on Wednesday announced the incentives that give Beijing households subsidies of up to $120 every time they purchase a television or refrigerator. At a GOME outlet in downtown Beijing on Friday, a media executive visited the home appliance store de
China kicks off consumption drive with subsidies for Beijing shoppers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: visual china group, getty images
Keywords: news, cnbc, companies, shoppers, drive, consumption, kicks, subsidies, sales, incentives, expected, china, households, appliances, growth, beijing, retail, media


China kicks off consumption drive with subsidies for Beijing shoppers

China’s push to stoke spending in the sluggish retail sector began on Friday with Beijing households given subsidies to buy electrical appliances, in the first of what is expected to be a barrage of incentives to revive private consumption.

The National Development and Reform Commission (NDRC), China’s state planner, on Tuesday unveiled a raft of measures to boost consumption of goods ranging from eco-friendly appliances to big-ticket items such as cars, the sales of which have plunged in recent months.

State media on Wednesday announced the incentives that give Beijing households subsidies of up to $120 every time they purchase a television or refrigerator. The subsidy program will last three years. It covers 15 categories of appliances, with the condition that they must be energy-saving.

No details were provided on the program’s full scope or whether other cities would unveil similar incentives.

Shares of major appliance makers Gree Electric Appliances and Midea Group have risen 4.8 percent and 5.6 percent, respectively, since the NDRC’s Tuesday announcement, outperforming a 2.9 percent gain for the blue-chip stock index.

At a GOME outlet in downtown Beijing on Friday, a media executive visited the home appliance store determined to take advantage of the subsidies.

“We came here yesterday, and the salesman told us that the subsidies would take effect today. So we came back,” said the 35-year-old shopper who declined to give her name as she paid for a refrigerator.

Beijing is trying to fire up growth engines, with the world’s second-biggest economy expected to further slow in 2019.

In addition to subsidies designed to boost retail sales growth — which sank to a 15-year low last year — other stimulus steps include easier monetary policy to encourage bank lending and tax cuts.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: visual china group, getty images
Keywords: news, cnbc, companies, shoppers, drive, consumption, kicks, subsidies, sales, incentives, expected, china, households, appliances, growth, beijing, retail, media


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