Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
The US economy recorded better than expected performance during the fourth quarter enabling it to conclude 2015 on positive mode. Surpassing the forecast of 0.7 percent, the US economy grew one percent during September-October quarter in 2015 giving much leverage to the US government to tighten monetary policy.
The UK's headline rate of inflation reached to 12-month high. However, it remained below the two percent target of Bank of England for two years. The consumer prices index rose following the price rise in oil, clothing and food products. Economists and consumers are looking to UK's central bank whether it'll raise interest rate or not.
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