News Briefs--(5-5-2018)

Retail sales up in Vietnam

HANOI, May 4 : Vietnam's total goods retail sales and consumer service revenues in the first four months of this year rose 9.8 per cent year-on-year to 1,399 trillion Vietnamese dong (over 61.6 billion US dollars), its General Statistics Office announced on Friday. Specifically, Vietnam's goods retail sales climbed up 10.8 per cent to 1,060 trillion Vietnamese dong (46.7 billion dollars), with sales of food and foodstuffs growing 11.9 per cent, garments growing 12.8 per cent, home appliances growing 10.8 per cent, cultural and educational items growing 9 per cent, and means of transport growing 8.2 per cent. — Xinhua

BMW books record profits

FRANKFURT AM MAIN, May 4: German high-end carmaker BMW said Friday it booked a strong first three months with record first-quarter shipments and profits, confirming its targets for the full year. Net profit at the Munich-based group added 1.2 per cent year-on-year to reach 2.3 billion euros ($2.8 billion). But operating, or underlying profits fell 3.1 per cent to 2.8 billion euros, on the back of revenues down 5.1 per cent at 22.7 billion. BMW said its turnover and operating profit were both braked by currency effects, arguing sales would otherwise have remained around the same level as last year. — AFP

US services sector growth slips

WASHINGTON, May 4: The US services sector slowed again in April amid concerns that trade tensions will press prices higher and about the lack of skilled workers, according to a survey released Thursday. Despite the modest slowdown, all 18 industries of the services sector, a key driver of the world's largest economy, reported continued growth, the Institute for Supply Management said in a monthly report. ISM's Non-Manufacturing Index fell two percentage points to 56.8 per cent last month, falling below analyst expectations and marking the third straight decline. And while the reading remained above the 50 per cent benchmark that separates growth from contraction, it fell below the average for the past 12 months of 57.6 per cent. — AFP