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Added on the 14/08/2018 08:10:35 - Copyright : Wochit
China beats analysts expectations but 3rd quarter GDP figures show the economy is still slowing. Katie Sargent reports.
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On Tuesday, Home Depot Inc said it will spend around $1 billion more on employees' pay annually. Business Insider said the company is benefiting from a surge in demand for tools, paint, and building materials in the COVID-19 pandemic. Overall net sales increased 23.2% to $33.54 billion, beating analysts' estimate of $32.04 billion. Home Depot have provided staff with temporary weekly bonuses and more hours of paid time off. The company said some of these will now become permanent, it said.
Black Friday 2020 is next week. Business Insider reports that this year's Black Friday is shaping up to be unlike any that came before it. Several retailers are deemphasizing in-store shopping. Many retailers are opting for several, limited-time sales during the lead up to the big day. Amazon, Best Buy, GameStop, Kohl's, Macy's, Target, The Home Depot, and Walmart are currently offering several early Black Friday deals in stores and online.
The price of US housing in the third quarter of 2020 saw the biggest year-over-year jump since 2013. Markets Insider reports the median price for a single-family home rose 12%, mainly fueled by record-low mortgage interest rates. But there's a downside: Not every American is benefitting from the rally. In fact, Q3 saw the proportion of first-time homebuyers drop to just 31%. That's the lowest share in over 30 years. As home prices significantly outpace median family income growth, more Americans have been pushed out of the housing market and have had to delay homeownership.
November 27th is Black Friday. Business Insider reports that Best Buy is one of the major retailers to keep an eye on for deals. Year after year, Best Buy provides sales on TVs, speakers, headphones, laptops, gaming gear, and more. Best Buy's Black Friday 2020 sale features a Black Friday price guarantee. The guarantee helps My Best Buy members save all season long. Investors are hoping a robust Black Friday will save an otherwise dismal year for retailers.