Fiscal Study

Global luxury products and top fashion labels are looking to tap the growing Indian market. Indeed, India is a market of contrasts. Car makers are looking to produce the world's cheapest car, valued at US$2,500, to cater to the Indian mass market, where many travel in bullock carts. They are also looking to sell luxury four-wheelers priced over $1 million, Asia Times reports:

The size of the luxury market in India is estimated to be about $4 billion, and is expected to rise to $30 billion by 2015, which would include luxury assets such as private jets and luxury homes, cars or yachts and art.
The luxury-car segment, broadly defined as vehicles worth more than Rs2.5 million ($63,000), should clock sales of more than 4,000 units this year, a 30% rise over the previous year.

Posted by fiscalstudy at 7:14 AM | Permalink | Comments (0)

Home sales in the U.S. dropped in August to the lowest level in almost six years while consumer spending gained, signs that the fallout from a housing recession has yet to reach the biggest part of the economy, according to economists, Bloomberg reports:

Purchases of new and existing homes fell to a 6.32 million pace, the fewest since November 2001, from a 6.62 million rate in July, according to the median estimate of economists surveyed by Bloomberg News. Americans spent 0.4 percent more in August for a second month, a Commerce Department report may also show. Real-estate sales and prices are likely to keep falling, extending an almost two-year slump, as concern over subprime loans has made mortgages more difficult to get. Rising wages have so far shielded consumers, whose spending accounts for more than two-thirds of the economy, from the weakening in home values that's shaken their financial security.

Read it all.

Posted by fiscalstudy at 6:38 AM | Permalink | Comments (0)

Home sales in the U.S. dropped in August to the lowest level in almost six years while consumer spending gained, signs that the fallout from a housing recession has yet to reach the biggest part of the economy, according to economists, Bloomberg reports:

Purchases of new and existing homes fell to a 6.32 million pace, the fewest since November 2001, from a 6.62 million rate in July, according to the median estimate of economists surveyed by Bloomberg News. Americans spent 0.4 percent more in August for a second month, a Commerce Department report may also show. Real-estate sales and prices are likely to keep falling, extending an almost two-year slump, as concern over subprime loans has made mortgages more difficult to get. Rising wages have so far shielded consumers, whose spending accounts for more than two-thirds of the economy, from the weakening in home values that's shaken their financial security.

Read it all.

Posted by fiscalstudy at 6:38 AM | Permalink | Comments (0)