US Consumer Spending Stalls, While Political Tensions Rise Globally
Retail sales in the United States unexpectedly remained flat during the December holidays, signaling a potential economic slowdown, while political tensions flared in several regions, according to reports released this week. Simultaneously, the Israeli government approved plans to expand its control over the occupied West Bank, and Venezuela ruled out immediate presidential elections.
US consumer spending, a key indicator of economic health, showed a pause in growth during the holiday season. Retail sales were unchanged from the previous month, after a 0.6% increase in November, according to the Commerce Department. This contrasted with relatively robust spending in prior months, even as consumer sentiment about the economy had dimmed. Factors such as a faltering labor market, persistent inflation, and cooling wage growth contributed to the lacklustre end to the year, according to BBC Business.
Meanwhile, political developments unfolded in multiple countries. In Venezuela, National Assembly President Jorge Rodriguez stated that the country would not hold presidential elections in the immediate future, emphasizing the government's focus on national stability, as reported by Al Jazeera. These comments were made in an interview with the conservative outlet Newsmax.
In the occupied West Bank, Israel's security cabinet approved plans to expand its power, making it easier to seize Palestinian land illegally, according to Al Jazeera. This move has drawn worldwide condemnation, with the United States expressing its opposition to any Israeli annexation. The article also noted that the measures expand Israeli control and make it easier for settlers to acquire land in the Palestinian territory.
Adding to the global unrest, the family of a pro-Palestine protester, Leqaa Kordia, is demanding her release after she was hospitalized from an immigration detention center in Texas. Her family reported being left in the dark for over 12 hours regarding her whereabouts and condition, according to Al Jazeera. Her cousin, Hamzah Abushaban, said the family was "stonewalled" as they sought answers.
In other news, Spain and Portugal were hit by a third deadly storm in two weeks, causing major damage and flooding. Storm Marta swept the Iberian peninsula just days after Storms Kristin and Leonardo brought deadly flooding and major damage, according to The Guardian.
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