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US economy shows stronger than expected growth in spring

The US economy grew more strongly than expected in the spring. In the second quarter, gross domestic product (GDP) rose by an annualised 3 percent compared to the previous quarter, according to initial estimates released by the Department of Commerce in Washington on Wednesday. Economists had on average only expected an increase of 2.6 percent....

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EU prepares retaliatory tariffs on US goods amid trade dispute

The European Union has agreed on a multi-billion pound list of potential retaliatory tariffs of up to 30 percent in the trade dispute with the US. If negotiations fail, countermeasures could quickly be imposed on US exports to the EU worth more than 90 billion euros. The Deutsche Presse-Agentur learned this from EU sources. The retaliatory...

Fashion

China to pass US in retail sales this year: forecast

Chinese consumers should outspend their American counterparts in 2019, with retail sales in the Asian giant continuing to grow in the coming years, according to an industry forecast published Wednesday. Retail sales in China are expected to hit 5.64 trillion USD, an increase of 7.5 percent over 2018, while Americans are likely to spend 5.53...