Morning business headlines
Tuesday, July 09, 2013 11:31 AM
Global forecast: world economy stuck in neutral
The Internet Monetary Fund revised its global growth projections for 2013 Tuesday, saying that world growth will struggle to accelerate as the United States' expansion weakens from a projected 1.9 percent increase to 1.7 percent. China's economy is expected to grow 7.8 percent, and the European economy will shrink by 0.6 percent, reports CNN Money.
Small business owners more wary in June
A monthly survey of business owners by the National Federation of Independent Business shows a slight drop in optimism in June, after two months of increasing confidence, reports Reuters. More owners reported negative sales trends in the monthly Small Business Optimism Index.
Bank credit card delinquencies lowest since 1990
Delinquencies on bank-issued credit cards, defined as accounts at least 30 days overdue, fell to 2.4 percent in the first quarter of 2013, according an American Bankers Report issued today. CNN Money reports that bankers attribute the change to increasing household wealth and lessons consumers learned during the recession about excessive debt. According to a separate report, consumer borrowing increased in May by the most in a year, as Americans put more purchases on their credit cards and took out more school and auto loans, reports Bloomberg.