March 2005 Edition
HOUSEWARES
Americans bought $62.2-billion worth of housewares at retail in 2003. U.S. households spent an average of $578 each on housewares, a higher amount than that spent on fruits and vegetables ($563) or dairy products ($335). Household electrics led consumer housewares purchases, representing 14.7 per cent of direct-to-retail sales, while cook and bakeware categories accounted for 11.5 per cent. Next were space organisers. Consumers spending on housewares has increased an average of 4.9 per cent annually over the past five years.
HUNGER
A new FAO report says that 852 million people are hungry. While some countries, such as China and Brazil, have reduced their undernourished populations since the early 1990s, Tanzania and North Korea are among those with rising numbers of hungry people More than five million children die each year from hunger-related causes and undernutrition is costing the world $30-billion a year in direct medical costs alone.
ADVERTISING
Worldwide advertising expenditure grew by almost seven per cent in 2004 to $370-billion. As this was well above global economic growth, it shows that the industry is recovering strongly after a previous slump. The ad market was boosted in 2004 by some special factors, such as the presidential campaign in the U.S. and the Olympics. Experts predict that by 2011, China will have overtaken Britain and Germany to become the third-largest advertising market in the world after America and Japan.
BUSES
Once the Cinderella of London's public transport system, buses are now the showpiece. Since 1990, London has poured US$970-million a year into the capital's bus network. Besides money, the buses have got more road space as well: London now has 280km of bus lanes, up by a half since 2000. Buses are now more frequent, more reliable and comfier. In their share of journeys, buses have gained four percentage points from cars.
CARS
More cars were sold on the planet in 2004 than ever before as would-be motorists in countries such as China and India began to drive global auto industry growth. It is estimated that worldwide sales hit 44.45- million in 2004, about three per cent above the 2003 level. China became the fourth-largest market, passing France and Italy, and will probably be No.2--ahead of Germany and Japan and behind only the United States, by the end of the decade. However, India overtook China as the fastest-growing market, with an estimated 29 per cent jump to about 900,000 vehicles. 2.3-million vehicles were sold in China.
LOYALTY
A Boston University study reports that supermarket loyalty cards are now more pervasive than the Internet or PCs. Eighty six per cent of adult consumers have at least one, and many have several. Researchers have found that even though privacy was a concern, the majority of cardholders believe that the benefits of loyalty cards outweigh any checks on personal privacy. Seventy-six per cent of cardholders say that they use their loyalty cards almost every time they shop.
CUBA
Tourism to Cuba increased 8-per cent in 2004 compared with 2003, despite new U.S. restrictions sharply cutting back on how many Americans visit the island. In 2004, 1.9-million tourists visited Cuba. Canadians top the list of visitors, followed by Europeans, primarily from Italy, France Germany and Spain. Tourism now represents 41 per cent of Cuba's foreign exchange income, a leap from just four per cent in 1990.
WEATHER
New figures reveal that 2004 was the world's fourth warmest year since records began in 1861. In 2004, the global mean surface temperature was 14C, which is 0.44C above the average reading for the years 1961 to 1990. For the first time, grass has become established in Antarctica, showing the continent is warming to temperatures unseen for 10,000 years. Plants are now blooming an average of 5.2 days earlier per decade.
SECURITY
The increasingly sensitive radiation detectors at many airports may now be set off by passengers who have had certain medical procedures. The thallium used in cardiac exams stays in the body for up to 30 days and iodine, which treats thyroid problems, has triggered alarms up to 95 days later.
LAWS
On the first day of 2005, China enacted 88 new laws that cover a wide range of areas including foreign trade, taxation, and advertising standards. As part of China's accession to the World Trade Organization, seven laws and regulations took effect that list some restrictions on auto imports and foreign participation in gasoline sales, auctions and insurance.
ROBOTICS
British roboticists are developing a robot that feeds on flies. Eco Bot II will use special cells to break down sugars in the flies and generate electricity.
TRADE
Canada and the European Union will begin negotiating a deal this year to boost two-way trade and investment. The agreement is not a traditional free-trade deal in that it doesn't seek to chop tariffs on industrial goods or tackle non-tariff barriers in farm products trade such as subsidies. Both Canada and the EU say that they believe that these matters are best left to multi-country negotiations at the WTO. Instead, the deal will try and cut red tape and regulatory barriers. The 25-member EU is Canada's second largest trading partner after the U.S., while Canada ranks ninth among EU trading partners.
MORE TRADE
The Association of South-East Asian Nations (ASEAN) recently signed a pact with China to cut tariffs on a number of goods by 2010. ASEAN also aims to start trade talks with Japan next month. Six leading ASEAN countries, including Singapore and Malaysia, agreed to drop tariffs on electronics and ten other areas by 2007.
CRANBERRIES
This fruit is one of only three fruits native to North America. The fastest part of today's cranberry market is for cranberries that do not taste like cranberries Flavoured fruit pieces (FFPS to the trade) taste like orange, cherry, raspberry or any number of other fruits. Why make them taste like another fruit? Mainly because it is a durable little fruit. FFPS have a shelf-life of two years and keep a chewy texture when baked. Ocean Spray, a co-operative owned by 800 growers, sold about US$1.2-billion worth of cranberries and cranberry products worldwide in 2003.
WORTH
In the past three years, the total value of residential property in developed economies has increased by an estimated US$20-trillion to $over US$60-trillion. The increase is partially explained by the decline in the U.S. dollar, however, it is still double the US$10-trillion by which global share values climbed in the three years to 1999. Top of the league is South Africa where prices surged by 35-per cent, ahead of Hong Kong at 31-per cent.
SPACE
Experts predict that by 2030, the United States will require 44 per cent more total built space than existed in 2000 to accommodate population and job growth projections.
RUST
A cloud of deadly spores looms over the American south which can destroy millions of acres of crops. Asian soyabean rust, a lethal fungus that attacks soyabean plants, landed recently in the U.S. Scientists believe that one or more of the several recent hurricanes carried the spores from South America to the states on the Gulf of Mexico. Once there, the spores travelled more than 300 miles a day infecting nine states in just over a month. The disease could ruin next year's harvest.
SIZE
Women's pants labelled at size 8 can be anywhere from a size 4 to 14 depending on the manufacturer and price according to a North Texas School of Marketing study. A team of researchers measured 1,011 pairs of pants in different sizes and from different manufacturers. Some of the findings: size 4 ranged from 23 inches to 31.5 inches; size 10 ranged from 27 to 34 inches; size 14 ranged from just over 30 inches (smaller than some manufacturers' size 4) to 38 inches. They also discovered that pricey pants were consistently cut fuller, allowing them to fit a larger woman than less-expensive offerings.
MOOSE
The city of Anchorage, Alaska (population 271,000) has about 300 resident moose year-round. In the winter they are joined by hundreds more. Last winter, some 200 moose were killed in collisions around the city. They feed along median strips and shoulders and lick salt off the pavement.
HOLLYWOOD
The film industry is following the, lead of the music business by stepping up legal action against internet film pirates. An industry body launched legal action against over 100 middlemen in the U.S. and Europe who facilitate the downloading of pirated blockbuster movies.
SUPERMARKETS
2005 represents the 75th anniversary of the supermarket retail format which has been described as "a resilient and ever-changing enterprise whose contribution to communities worldwide is immeasurable." Historians agree that the first actual supermarket was a King Kullen store, opened August 1930 in Jamaica, N.Y. The store, comparable to today's no-frills warehouse outlets, sold more than 1,000 products. Key to the early success of the supermarket were the shopping cart, introduced in 1937; the car and free parking.
WATER
Paris is launching an advertising campaign to get people to switch back to tap water from bottled water. In 20 year, the consumption of bottled water has doubled to 130 litres a year per person. It is known that elderly people have a great need for calcium to fight osteoporosis. Tap water can provide this naturally. It is estimated that empty water bottles amount to 20,000 tonnes each year, the equivalent to two Eiffel towers.
JUICE
Brazil's frozen orange juice (FCOJ) exports totalled 408,040 in July to October 2004, the first 4 months of the crop year. This was down three per cent on the 495,380 tonnes in the same period in 2003. The EU was the main market for Brazilian FCOJ over the period at 360,400 tonnes, followed by NAFTA at 58,500 tonnes. The Far East received 37,200 tonnes.
NAFTA
A University of Toronto study reports that fewer U.S.-based multinational companies are investing in Canada since it formed the NAFTA with the U.S. and Mexico in 1994. The reason given is that U.S. multinationals no longer need to invest in Canada to access its markets. Researchers have found that Canada only receives 10 per cent of U.S. foreign investment while Europe receives more than half. 40 year ago, Canada and Europe received that same amount of U.S. investment.
ENVELOPES
The first envelopes with gummed flaps were produced in 1844 in Britain. They were not immediately popular because it was thought to be a serious insult to send a person's saliva to someone else.
Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.
Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp
Americans bought $62.2-billion worth of housewares at retail in 2003. U.S. households spent an average of $578 each on housewares, a higher amount than that spent on fruits and vegetables ($563) or dairy products ($335). Household electrics led consumer housewares purchases, representing 14.7 per cent of direct-to-retail sales, while cook and bakeware categories accounted for 11.5 per cent. Next were space organisers. Consumers spending on housewares has increased an average of 4.9 per cent annually over the past five years.
HUNGER
A new FAO report says that 852 million people are hungry. While some countries, such as China and Brazil, have reduced their undernourished populations since the early 1990s, Tanzania and North Korea are among those with rising numbers of hungry people More than five million children die each year from hunger-related causes and undernutrition is costing the world $30-billion a year in direct medical costs alone.
ADVERTISING
Worldwide advertising expenditure grew by almost seven per cent in 2004 to $370-billion. As this was well above global economic growth, it shows that the industry is recovering strongly after a previous slump. The ad market was boosted in 2004 by some special factors, such as the presidential campaign in the U.S. and the Olympics. Experts predict that by 2011, China will have overtaken Britain and Germany to become the third-largest advertising market in the world after America and Japan.
BUSES
Once the Cinderella of London's public transport system, buses are now the showpiece. Since 1990, London has poured US$970-million a year into the capital's bus network. Besides money, the buses have got more road space as well: London now has 280km of bus lanes, up by a half since 2000. Buses are now more frequent, more reliable and comfier. In their share of journeys, buses have gained four percentage points from cars.
CARS
More cars were sold on the planet in 2004 than ever before as would-be motorists in countries such as China and India began to drive global auto industry growth. It is estimated that worldwide sales hit 44.45- million in 2004, about three per cent above the 2003 level. China became the fourth-largest market, passing France and Italy, and will probably be No.2--ahead of Germany and Japan and behind only the United States, by the end of the decade. However, India overtook China as the fastest-growing market, with an estimated 29 per cent jump to about 900,000 vehicles. 2.3-million vehicles were sold in China.
LOYALTY
A Boston University study reports that supermarket loyalty cards are now more pervasive than the Internet or PCs. Eighty six per cent of adult consumers have at least one, and many have several. Researchers have found that even though privacy was a concern, the majority of cardholders believe that the benefits of loyalty cards outweigh any checks on personal privacy. Seventy-six per cent of cardholders say that they use their loyalty cards almost every time they shop.
CUBA
Tourism to Cuba increased 8-per cent in 2004 compared with 2003, despite new U.S. restrictions sharply cutting back on how many Americans visit the island. In 2004, 1.9-million tourists visited Cuba. Canadians top the list of visitors, followed by Europeans, primarily from Italy, France Germany and Spain. Tourism now represents 41 per cent of Cuba's foreign exchange income, a leap from just four per cent in 1990.
WEATHER
New figures reveal that 2004 was the world's fourth warmest year since records began in 1861. In 2004, the global mean surface temperature was 14C, which is 0.44C above the average reading for the years 1961 to 1990. For the first time, grass has become established in Antarctica, showing the continent is warming to temperatures unseen for 10,000 years. Plants are now blooming an average of 5.2 days earlier per decade.
SECURITY
The increasingly sensitive radiation detectors at many airports may now be set off by passengers who have had certain medical procedures. The thallium used in cardiac exams stays in the body for up to 30 days and iodine, which treats thyroid problems, has triggered alarms up to 95 days later.
LAWS
On the first day of 2005, China enacted 88 new laws that cover a wide range of areas including foreign trade, taxation, and advertising standards. As part of China's accession to the World Trade Organization, seven laws and regulations took effect that list some restrictions on auto imports and foreign participation in gasoline sales, auctions and insurance.
ROBOTICS
British roboticists are developing a robot that feeds on flies. Eco Bot II will use special cells to break down sugars in the flies and generate electricity.
TRADE
Canada and the European Union will begin negotiating a deal this year to boost two-way trade and investment. The agreement is not a traditional free-trade deal in that it doesn't seek to chop tariffs on industrial goods or tackle non-tariff barriers in farm products trade such as subsidies. Both Canada and the EU say that they believe that these matters are best left to multi-country negotiations at the WTO. Instead, the deal will try and cut red tape and regulatory barriers. The 25-member EU is Canada's second largest trading partner after the U.S., while Canada ranks ninth among EU trading partners.
MORE TRADE
The Association of South-East Asian Nations (ASEAN) recently signed a pact with China to cut tariffs on a number of goods by 2010. ASEAN also aims to start trade talks with Japan next month. Six leading ASEAN countries, including Singapore and Malaysia, agreed to drop tariffs on electronics and ten other areas by 2007.
CRANBERRIES
This fruit is one of only three fruits native to North America. The fastest part of today's cranberry market is for cranberries that do not taste like cranberries Flavoured fruit pieces (FFPS to the trade) taste like orange, cherry, raspberry or any number of other fruits. Why make them taste like another fruit? Mainly because it is a durable little fruit. FFPS have a shelf-life of two years and keep a chewy texture when baked. Ocean Spray, a co-operative owned by 800 growers, sold about US$1.2-billion worth of cranberries and cranberry products worldwide in 2003.
WORTH
In the past three years, the total value of residential property in developed economies has increased by an estimated US$20-trillion to $over US$60-trillion. The increase is partially explained by the decline in the U.S. dollar, however, it is still double the US$10-trillion by which global share values climbed in the three years to 1999. Top of the league is South Africa where prices surged by 35-per cent, ahead of Hong Kong at 31-per cent.
SPACE
Experts predict that by 2030, the United States will require 44 per cent more total built space than existed in 2000 to accommodate population and job growth projections.
RUST
A cloud of deadly spores looms over the American south which can destroy millions of acres of crops. Asian soyabean rust, a lethal fungus that attacks soyabean plants, landed recently in the U.S. Scientists believe that one or more of the several recent hurricanes carried the spores from South America to the states on the Gulf of Mexico. Once there, the spores travelled more than 300 miles a day infecting nine states in just over a month. The disease could ruin next year's harvest.
SIZE
Women's pants labelled at size 8 can be anywhere from a size 4 to 14 depending on the manufacturer and price according to a North Texas School of Marketing study. A team of researchers measured 1,011 pairs of pants in different sizes and from different manufacturers. Some of the findings: size 4 ranged from 23 inches to 31.5 inches; size 10 ranged from 27 to 34 inches; size 14 ranged from just over 30 inches (smaller than some manufacturers' size 4) to 38 inches. They also discovered that pricey pants were consistently cut fuller, allowing them to fit a larger woman than less-expensive offerings.
MOOSE
The city of Anchorage, Alaska (population 271,000) has about 300 resident moose year-round. In the winter they are joined by hundreds more. Last winter, some 200 moose were killed in collisions around the city. They feed along median strips and shoulders and lick salt off the pavement.
HOLLYWOOD
The film industry is following the, lead of the music business by stepping up legal action against internet film pirates. An industry body launched legal action against over 100 middlemen in the U.S. and Europe who facilitate the downloading of pirated blockbuster movies.
SUPERMARKETS
2005 represents the 75th anniversary of the supermarket retail format which has been described as "a resilient and ever-changing enterprise whose contribution to communities worldwide is immeasurable." Historians agree that the first actual supermarket was a King Kullen store, opened August 1930 in Jamaica, N.Y. The store, comparable to today's no-frills warehouse outlets, sold more than 1,000 products. Key to the early success of the supermarket were the shopping cart, introduced in 1937; the car and free parking.
WATER
Paris is launching an advertising campaign to get people to switch back to tap water from bottled water. In 20 year, the consumption of bottled water has doubled to 130 litres a year per person. It is known that elderly people have a great need for calcium to fight osteoporosis. Tap water can provide this naturally. It is estimated that empty water bottles amount to 20,000 tonnes each year, the equivalent to two Eiffel towers.
JUICE
Brazil's frozen orange juice (FCOJ) exports totalled 408,040 in July to October 2004, the first 4 months of the crop year. This was down three per cent on the 495,380 tonnes in the same period in 2003. The EU was the main market for Brazilian FCOJ over the period at 360,400 tonnes, followed by NAFTA at 58,500 tonnes. The Far East received 37,200 tonnes.
NAFTA
A University of Toronto study reports that fewer U.S.-based multinational companies are investing in Canada since it formed the NAFTA with the U.S. and Mexico in 1994. The reason given is that U.S. multinationals no longer need to invest in Canada to access its markets. Researchers have found that Canada only receives 10 per cent of U.S. foreign investment while Europe receives more than half. 40 year ago, Canada and Europe received that same amount of U.S. investment.
ENVELOPES
The first envelopes with gummed flaps were produced in 1844 in Britain. They were not immediately popular because it was thought to be a serious insult to send a person's saliva to someone else.
Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.
Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp
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