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Purveyor's JournalConsumer Sentiment Gains In January On Fiscal Deal Optimism
NEW YORK (Reuters) - Consumer sentiment unexpectedly improved in January as Americans felt Washington's deal to avert the "fiscal cliff" at the beginning of the year boded well for the economy, a survey released on Friday showed.
The Thomson Reuters/University of Michigan's final reading on the overall index of consumer sentiment rose to 73.8 from 72.9 in December, topping economists' forecasts for 71.5.
It also marked an improvement from early January's 71.3 preliminary figure, which had been the lowest level in over a year. Survey interviews were done before data earlier this week showed the economy contracted in the fourth quarter.
The agreement reached in Washington earlier in January averted the full brunt of tax increases and spending cuts that had been set to come into effect. But taxes did increase for some Americans, and a 2 percent reduction in payroll taxes came to an end.
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http://wkzo.com/news/articles/2013/feb/01/consumer-sentiment-gains-in-january-on-fiscal-deal-optimism/
U.S. Manufacturing Shows Fastest Growth In 9 Months
Source: REUTERS
The pace of growth in the U.S. manufacturing sector picked up in January to its highest level in nine months as new orders and employment improved, according to an industry report released on Friday.
The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.1 from 50.2 in December, beating economists' expectations of 50.6.
A reading above 50 indicates expansion in the manufacturing sector.
It was the highest level since April of last year. A source of strength for the economy in the early years of the recovery, the manufacturing sector lost some steam in the second half of last year and contracted in November in the wake of superstorm Sandy.
Read more: http://www.chicagotribune.com/business/breaking/chi-manufacturing-shows-fastest-growth-in-9-months-20130201,0,2671400.story
NATO Secretary General Rasmussen Urges Russia to Be Open With NATO About Baltic Drills
Russia should share more information with NATO about military exercises the country conducts in the Baltic region, North Atlantic Treaty Organization Secretary General Anders Fogh Rasmussen said.
“We don’t have detailed information about upcoming Russian military exercises,” Rasmussen told reporters today in the Lithuanian capital, Vilnius, when asked about the West 2013 exercise that Russia and Belarus plan in September. “It’s of utmost importance to demonstrate openness and full transparency when it comes to military exercises.”
NATO’s three Baltic members, Lithuania, Latvia and Estonia, have expressed concern about increasing numbers of Russian troops and weapons stationed near their borders. The 28-nation alliance is committed to Lithuania “24 hours a day, 7 days a week, 365 days a year,” Rasmussen said, adding that its aircraft are policing the airspace of the three countries.
NATO will practice its own plans for the collective defense of the Baltics and Poland in a military exercise this year, Lithuanian President Dalia Grybauskaite told reporters at the same press conference. The military alliance renewed its Baltic strategy at a summit last year in Chicago, deciding among other things to make an air policing mission in the region permanent, she said.
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http://www.bloomberg.com/news/2013-02-01/rasmussen-urges-russia-to-be-open-with-nato-about-baltic-drills.html
Egypt: Suez Canal Seen Kept Open by Army as Ship Agent Suspends Service
Source: Bloomberg
By Michelle Wiese Bockmann - Feb 1, 2013
Egypt’s army is maintaining shipping services through the Suez Canal, which handles about 8 percent of world trade, amid unrest that’s suspended some port services, Inchcape Shipping Services, a global maritime agent said.
“The canal is a controlled military zone, therefore there are no transit issues,” Sheila Armstrong, spokeswoman for the Chafford Hundred, England company, said in an e-mailed response to questions. The agency hasn’t been providing ship supplies or organising crew changes since Jan. 29 for vessels calling at Egypt because they can’t guarantee safety to ports, she said.
Egypt’s army is using cameras and helicopters to guard traffic through the 193 kilometer- (120 mile)-long canal that earned $5.13 billion in tolls in 2012, amid rioting. A week ago, demonstrations marking the second anniversary of the Jan. 25 uprising that ousted former president Hosni Mubarak unleashed street battles that led to a state of emergency being declared and curfews in three provinces.
Cargo couldn’t be released at Port Said, at the mouth of the canal, as staff weren’t working, according to Inchcape. Operations at Sukhna Port stopped on Jan. 31 due to a strike by contractors, while bad weather also caused delays at other ports along the canal, according to Inchcape.
Read more: http://www.bloomberg.com/news/2013-02-01/suez-canal-seen-kept-open-by-army-as-ship-agent-suspends-service.html
Ford, General Motors And Chrysler Reported January Vehicle Sales Gains That Topped Estimates
By Craig Trudell - Feb 1, 2013
Ford Motor Co. (F), General Motors Co. (GM) and Chrysler Group LLC reported January vehicle sales gains that topped estimates, as the U.S. auto market begins a fourth consecutive year of growth with buyers returning to showrooms.
Ford’s deliveries of cars and light trucks climbed 22 percent while GM and Chrysler sales each rose 16 percent, according to company statements. The average estimates of 11 analysts surveyed by Bloomberg was for increases of 17 percent by Ford, 15 percent for Chrysler and 13 percent for GM.
The U.S. automakers will join Toyota Motor Corp. (7203) and Honda Motor Co. among automakers benefiting from about 500,000 more returning customers whose leases expire this year compared with 2012, according to researcher Edmunds.com. The phenomenon shows the auto market, a bright spot in the U.S. economy, still has further room to recover from the recession that ended in 2009.
“We’ve had more consumers coming back into the market to buy, and they’re getting financing,” Melinda Zabritski, a credit analyst at Experian Automotive, said in a telephone interview. “We’ll see returns similar to what we had pre- recession.”
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http://www.bloomberg.com/news/2013-02-01/chrysler-sales-rise-16-to-lengthen-monthly-streak.html
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