December 1, 2023
United States:
Americans Are Finally Turning Frugal After Splurging Over Summer
The long-awaited US economic slowdown has begun.
Signs are piling up — in recent data, in warnings from top retailers such as Walmart Inc. and in anecdotes from local businesses across the country — that after defying expectations all year and splurging over the summer, American households are starting to pull back.
Europe:
Russia Plans to Raise Key Diesel Exports
Russia plans to boost overseas diesel supplies from its major western ports in December by over a quarter after the government eased further export restrictions and Black Sea storms pushed back November loadings of the fuel.
Shipments from main Russian ports on the Black and Baltic Seas, including some batches originating in Belarus, are earmarked at a total of 2.83 million tons for December, according to industry data seen by Bloomberg.
Asia:
China’s Xi Seen Delaying Key Economic Plenum, Defying Norms
President Xi Jinping appears set to postpone a party meeting held every five years to chart his nation’s long-term reform agenda, the latest example of the Chinese leader disregarding decades-old norms.
The ruling Communist Party’s Politburo skipped setting a date for the third plenum at its meeting this week, according to the official read out. That leaves little time for the conclave that normally focuses on economic issues to assemble this year.
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