Latest news with #MHSI
Yahoo
4 days ago
- Business
- Yahoo
Australian household spending rises meagre 0.1% in April
SYDNEY (Reuters) -Australian household spending rose only marginally in April, data showed on Thursday, a further sign consumption was still lagging income growth despite a drop in borrowing rates and cooling inflation. The Australian Bureau of Statistics' monthly household spending indicator (MHSI) showed a seasonally adjusted rise of just 0.1% in April, after a dip of 0.1% in March. Household spending for April fell in four of the nine categories measured by the ABS, with notable declines in clothing and tobacco and alcohol. "Spending on goods fell by 1.1%, with households buying less clothing and footwear and new vehicles," noted the ABS. "Spending on recreational and cultural activities, health, and dining out contributed to a 1.5% rise in services spending." Annual growth slowed a fraction to 3.7%, a historically miserly pace particularly given solid population growth of around 1.7%. Household spending comprises around 52% of gross domestic product but made only a minor contribution to growth in the first quarter when the economy expanded by a meagre 0.2%. The Reserve Bank of Australia (RBA) already had to slash its consumption forecasts when it cut interest rates by a quarter point to 3.85% in May, and will now likely have to downgrade the outlook even further. Markets are wagering the RBA will ease again as early as July, and see rates bottoming around 2.85% by early next year. The MHSI series will replace the current retail sales report from July and is much broader in scope covering 68% of household consumption, more than double the retail survey. It includes spending on many services and should offer a better guide on what to expect from household consumption in the gross domestic product report. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Australian household spending rises meagre 0.1% in April
SYDNEY (Reuters) -Australian household spending rose only marginally in April, data showed on Thursday, a further sign consumption was still lagging income growth despite a drop in borrowing rates and cooling inflation. The Australian Bureau of Statistics' monthly household spending indicator (MHSI) showed a seasonally adjusted rise of just 0.1% in April, after a dip of 0.1% in March. Household spending for April fell in four of the nine categories measured by the ABS, with notable declines in clothing and tobacco and alcohol. "Spending on goods fell by 1.1%, with households buying less clothing and footwear and new vehicles," noted the ABS. "Spending on recreational and cultural activities, health, and dining out contributed to a 1.5% rise in services spending." Annual growth slowed a fraction to 3.7%, a historically miserly pace particularly given solid population growth of around 1.7%. Household spending comprises around 52% of gross domestic product but made only a minor contribution to growth in the first quarter when the economy expanded by a meagre 0.2%. The Reserve Bank of Australia (RBA) already had to slash its consumption forecasts when it cut interest rates by a quarter point to 3.85% in May, and will now likely have to downgrade the outlook even further. Markets are wagering the RBA will ease again as early as July, and see rates bottoming around 2.85% by early next year. The MHSI series will replace the current retail sales report from July and is much broader in scope covering 68% of household consumption, more than double the retail survey. It includes spending on many services and should offer a better guide on what to expect from household consumption in the gross domestic product report. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Australian household spending rises meagre 0.1% in April
SYDNEY (Reuters) -Australian household spending rose only marginally in April, data showed on Thursday, a further sign consumption was still lagging income growth despite a drop in borrowing rates and cooling inflation. The Australian Bureau of Statistics' monthly household spending indicator (MHSI) showed a seasonally adjusted rise of just 0.1% in April, after a dip of 0.1% in March. Household spending for April fell in four of the nine categories measured by the ABS, with notable declines in clothing and tobacco and alcohol. "Spending on goods fell by 1.1%, with households buying less clothing and footwear and new vehicles," noted the ABS. "Spending on recreational and cultural activities, health, and dining out contributed to a 1.5% rise in services spending." Annual growth slowed a fraction to 3.7%, a historically miserly pace particularly given solid population growth of around 1.7%. Household spending comprises around 52% of gross domestic product but made only a minor contribution to growth in the first quarter when the economy expanded by a meagre 0.2%. The Reserve Bank of Australia (RBA) already had to slash its consumption forecasts when it cut interest rates by a quarter point to 3.85% in May, and will now likely have to downgrade the outlook even further. Markets are wagering the RBA will ease again as early as July, and see rates bottoming around 2.85% by early next year. The MHSI series will replace the current retail sales report from July and is much broader in scope covering 68% of household consumption, more than double the retail survey. It includes spending on many services and should offer a better guide on what to expect from household consumption in the gross domestic product report. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-04-2025
- Yahoo
Details emerge after dental surgeon Akintunde Bowden fatally shot by neighbor in argument
Akintunde Bowden and his fiancée, Theresa Bell, were inseparable the last nine years, but on a night she wasn't at the Brown Deer apartment the couple shared, Bowden decided to confront a neighbor about loud noise and ended up dead. The 41-year-old dental surgeon with Milwaukee Health Services, Inc. was shot and killed April 19 at the Tudor Park Condominiums, 8900 N. Park Plaza Court. Police arrested a 27-year-old woman in connection to the shooting but prosecutors as of April 23 have not made a charging decision. The building's property manager says the woman was "frightened" when she fatally shot Bowden and "wrongfully presumed" she was going to be assaulted. In an interview with the Journal Sentinel April 23, Bell, who was set to marry Bowden later this year, said she doesn't have all the details of what happened that night but the Milwaukee County District Attorney's Office has been in contact with her. Bell said the incident was sparked by a noise complaint, she doesn't know the woman who was arrested, and she is upset that the property manager at the apartment complex sent a letter to tenants describing the incident, which was apparently captured on video. The Tudor Park Condominiums are managed by Karademas Management. Their office declined to comment on April 23 to the Journal Sentinel, but David Karademas sent a letter to tenants on Easter Sunday, as first reported by WISN-TV (Channel 12). "I am writing on this Easter Sunday out of necessity," Karademas said. "Some of you may have heard already that we had a tragic incident in the 8945 building last night," he added. "My understanding is that the situation began with a resident making noise that bothered the resident in the apartment below." Karademas said he has no knowledge of any previous disputes between Bowden and the woman. And both were "very long term tenants." "I have an on-site caretaker for exactly this kind of situation, but the resident from the lower unit decided to take matters into his own hands," Karademas added. "According to our camera, he went up to the apartment himself and began aggressively banging on the door and even kicking it. The woman on the other side of the door became frightened and wrongfully presumed that she was about to be assaulted. "She grabbed a gun, opened the door, and fired a single shot at what she mistook for an attacker. Sadly, the wound was fatal." Bowden, who provided dental services to underserved communities in Milwaukee since 2014, was memorialized by his employer earlier this week. "Throughout his tenure, Dr. Bowden remained fiercely committed to MHSI's mission of eliminating health disparities and improving outcomes for those most in need," said Tito Izard, president and CEO of MHSI. Bowden grew up on the south side of Chicago and what "pushes him forward" is serving Black communities with similarities to his upbringing, according to his fiancée. Bell says he was more than a championed dental surgeon; he was a cherished uncle to a 2-year-old girl. Bowden and Bell would watch their niece about three times a week. "They had a very close relationship," Bell said. "She's not our daughter, but how much we love and care for her, it was like our daughter-niece, essentially." Bowden enjoyed spending time with family near the water and watching basketball. He was particularly excited for the NBA playoffs getting underway this past weekend. Bell said it was common for the couple to have a tub of popcorn and enjoy basketball together. "He was super intense about the game," she said. Bell described her fiancé as a "provider" and "protector." She says she wants "justice" for Bowden's killing. The district attorney's office said April 23 that a charging decision is still "pending." This article originally appeared on Milwaukee Journal Sentinel: What happened to dental surgeon Bowden? Shot, killed in Brown Deer
Yahoo
22-04-2025
- Yahoo
Milwaukee dental surgeon identified as man shot, killed in Brown Deer
The victim in this past weekend's fatal shooting in Brown Deer has been identified as Akintunde Bowden, a well-accredited and championed dental surgeon in Milwaukee. Bowden, 41, was shot and killed April 19 at the Tudor Park Condominiums, 8900 N. Park Plaza Court. A 27-year-old woman was arrested in connection to the shooting and prosecutors have not yet announced charges. Milwaukee Health Services, Inc., a nonprofit health center that provides health care services to underserved families in Milwaukee, shared April 21 in a statement that Bowden was the group's dental director. "Throughout his tenure, Dr. Bowden remained fiercely committed to MHSI's mission of eliminating health disparities and improving outcomes for those most in need," the statement says. Bowden joined MHSI in 2014 after getting his doctorate from the University of Illinois. His colleagues in the statement describe him as having a "compassionate spirit" and "visionary leadership." His work mainly focused on chronic disease management. Bowden received a Black Excellence Award in 2022, an "accolade that speaks volumes about his character, contributions, and commitment to his community," MHSI said. "Dr. Bowden embodied the very spirit of MHSI," said Tito Izard, president and CEO of MHSI. "His legacy will live on in the lives he touched, the team he led, and the mission he championed. He was more than a colleague, he was family." Jessica Van Egeren contributed to this report. This article originally appeared on Milwaukee Journal Sentinel: Man shot and killed in Brown Deer identified as dental surgeon Bowden
