WTO membership also 【underpinned】 Chinese export-led growth with a strong insurance policy against protectionism.

Passage 1US retail sales rose less than expected over the holidays while new jobless claims climbed to a six-week high, underlining the slow pace of recovery from recession.Retail sales increased 0. 1 per cent in December to $400.6bn, missing forecasts of a 0.3 per cent rise and logging the weakest growth since last May, according to a commerce department repert.Separately, first-time claims for unemployment benefits rose to 399, 000. Economists say claims need to stay below 400,000 to sustain job growth.December sales of electronics and appliances fell 3. 9 per cent and department store purchases slipped 0.2 per cent. Meanwhile, cheaper fuel prices brought down receipts at petrol stations 1.6 per cent last month, while food and beverage sales fell 0.2 per cent.December's retail sales figures suggest it was not happy holiday season for US retailers,said Paul Dales, senior US economist at Capital Economics. "In other words, households have started to pare back their spending, most probably because their real incomes have continued to fall."An upward revision to November's sales reading, from 0. 2 per cent to 0. 4 per cent, suggested that consumers did most of their holiday shopping early in the season."While there were several media reports suggesting holiday shopping was solid, year-on-year growth in chain store data did disappoint, and this data suggests the consumer, restrained by weak income growth, has lost some momentum outside autos,"said David Sloan, an economist at IFR Economics.Steep discounts and extended hours at many retailers lured last-minute shoppers to stores in the week leading up to Christmas, but the 2011 holiday season was seen as modest overall and many companies have downgraded their profit forecasts.Thursday's commerce department figures showed that December's declines were offset by stronger demand for cars; sales of motor vehicles and parts were up 1. 5 per cent, as indicated earlier this month by carmakers, who said December sales reached about 13. 7m at a seasonally adjusted annual rate.Stripping out autos, overall retail sales fell 0.2 per cent compared with an expected 0.3 per cent gain. Sales excluding autos and petrol were flat in December.42.US retail sales were expected to increase by 0.3% in December.

Passage 1US retail sales rose less than expected over the holidays while new jobless claims climbed to a six-week high, underlining the slow pace of recovery from recession.Retail sales increased 0. 1 per cent in December to $400.6bn, missing forecasts of a 0.3 per cent rise and logging the weakest growth since last May, according to a commerce department repert.Separately, first-time claims for unemployment benefits rose to 399, 000. Economists say claims need to stay below 400,000 to sustain job growth.December sales of electronics and appliances fell 3. 9 per cent and department store purchases slipped 0.2 per cent. Meanwhile, cheaper fuel prices brought down receipts at petrol stations 1.6 per cent last month, while food and beverage sales fell 0.2 per cent.December's retail sales figures suggest it was not happy holiday season for US retailers,said Paul Dales, senior US economist at Capital Economics. "In other words, households have started to pare back their spending, most probably because their real incomes have continued to fall."An upward revision to November's sales reading, from 0. 2 per cent to 0. 4 per cent, suggested that consumers did most of their holiday shopping early in the season."While there were several media reports suggesting holiday shopping was solid, year-on-year growth in chain store data did disappoint, and this data suggests the consumer, restrained by weak income growth, has lost some momentum outside autos,"said David Sloan, an economist at IFR Economics.Steep discounts and extended hours at many retailers lured last-minute shoppers to stores in the week leading up to Christmas, but the 2011 holiday season was seen as modest overall and many companies have downgraded their profit forecasts.Thursday's commerce department figures showed that December's declines were offset by stronger demand for cars; sales of motor vehicles and parts were up 1. 5 per cent, as indicated earlier this month by carmakers, who said December sales reached about 13. 7m at a seasonally adjusted annual rate.Stripping out autos, overall retail sales fell 0.2 per cent compared with an expected 0.3 per cent gain. Sales excluding autos and petrol were flat in December.43.First-time claims for unemployment benefits climbed to 399,000, indicating the US recession is worsening.

Passage 1US retail sales rose less than expected over the holidays while new jobless claims climbed to a six-week high, underlining the slow pace of recovery from recession.Retail sales increased 0. 1 per cent in December to $400.6bn, missing forecasts of a 0.3 per cent rise and logging the weakest growth since last May, according to a commerce department repert.Separately, first-time claims for unemployment benefits rose to 399, 000. Economists say claims need to stay below 400,000 to sustain job growth.December sales of electronics and appliances fell 3. 9 per cent and department store purchases slipped 0.2 per cent. Meanwhile, cheaper fuel prices brought down receipts at petrol stations 1.6 per cent last month, while food and beverage sales fell 0.2 per cent.December's retail sales figures suggest it was not happy holiday season for US retailers,said Paul Dales, senior US economist at Capital Economics. "In other words, households have started to pare back their spending, most probably because their real incomes have continued to fall."An upward revision to November's sales reading, from 0. 2 per cent to 0. 4 per cent, suggested that consumers did most of their holiday shopping early in the season."While there were several media reports suggesting holiday shopping was solid, year-on-year growth in chain store data did disappoint, and this data suggests the consumer, restrained by weak income growth, has lost some momentum outside autos,"said David Sloan, an economist at IFR Economics.Steep discounts and extended hours at many retailers lured last-minute shoppers to stores in the week leading up to Christmas, but the 2011 holiday season was seen as modest overall and many companies have downgraded their profit forecasts.Thursday's commerce department figures showed that December's declines were offset by stronger demand for cars; sales of motor vehicles and parts were up 1. 5 per cent, as indicated earlier this month by carmakers, who said December sales reached about 13. 7m at a seasonally adjusted annual rate.Stripping out autos, overall retail sales fell 0.2 per cent compared with an expected 0.3 per cent gain. Sales excluding autos and petrol were flat in December.44.Many US families have cut down on their spending due to weak income growth.

Passage 1US retail sales rose less than expected over the holidays while new jobless claims climbed to a six-week high, underlining the slow pace of recovery from recession.Retail sales increased 0. 1 per cent in December to $400.6bn, missing forecasts of a 0.3 per cent rise and logging the weakest growth since last May, according to a commerce department repert.Separately, first-time claims for unemployment benefits rose to 399, 000. Economists say claims need to stay below 400,000 to sustain job growth.December sales of electronics and appliances fell 3. 9 per cent and department store purchases slipped 0.2 per cent. Meanwhile, cheaper fuel prices brought down receipts at petrol stations 1.6 per cent last month, while food and beverage sales fell 0.2 per cent.December's retail sales figures suggest it was not happy holiday season for US retailers,said Paul Dales, senior US economist at Capital Economics. "In other words, households have started to pare back their spending, most probably because their real incomes have continued to fall."An upward revision to November's sales reading, from 0. 2 per cent to 0. 4 per cent, suggested that consumers did most of their holiday shopping early in the season."While there were several media reports suggesting holiday shopping was solid, year-on-year growth in chain store data did disappoint, and this data suggests the consumer, restrained by weak income growth, has lost some momentum outside autos,"said David Sloan, an economist at IFR Economics.Steep discounts and extended hours at many retailers lured last-minute shoppers to stores in the week leading up to Christmas, but the 2011 holiday season was seen as modest overall and many companies have downgraded their profit forecasts.Thursday's commerce department figures showed that December's declines were offset by stronger demand for cars; sales of motor vehicles and parts were up 1. 5 per cent, as indicated earlier this month by carmakers, who said December sales reached about 13. 7m at a seasonally adjusted annual rate.Stripping out autos, overall retail sales fell 0.2 per cent compared with an expected 0.3 per cent gain. Sales excluding autos and petrol were flat in December.45.Recent retail sales figures suggest that consumers did most of their Christmas shopping in early December.

Passage 1US retail sales rose less than expected over the holidays while new jobless claims climbed to a six-week high, underlining the slow pace of recovery from recession.Retail sales increased 0. 1 per cent in December to $400.6bn, missing forecasts of a 0.3 per cent rise and logging the weakest growth since last May, according to a commerce department report.Separately, first-time claims for unemployment benefits rose to 399, 000. Economists say claims need to stay below 400,000 to sustain job growth.December sales of electronics and appliances fell 3. 9 per cent and department store purchases slipped 0.2 per cent. Meanwhile, cheaper fuel prices brought down receipts at petrol stations 1.6 per cent last month, while food and beverage sales fell 0.2 per cent.December's retail sales figures suggest it was not happy holiday season for US retailers,said Paul Dales, senior US economist at Capital Economics. "In other words, households have started to pare back their spending, most probably because their real incomes have continued to fall."An upward revision to November's sales reading, from 0. 2 per cent to 0. 4 per cent, suggested that consumers did most of their holiday shopping early in the season."While there were several media reports suggesting holiday shopping was solid, year-on-year growth in chain store data did disappoint, and this data suggests the consumer, restrained by weak income growth, has lost some momentum outside autos,"said David Sloan, an economist at IFR Economics.Steep discounts and extended hours at many retailers lured last-minute shoppers to stores in the week leading up to Christmas, but the 2011 holiday season was seen as modest overall and many companies have downgraded their profit forecasts.Thursday's commerce department figures showed that December's declines were offset by stronger demand for cars; sales of motor vehicles and parts were up 1. 5 per cent, as indicated earlier this month by carmakers, who said December sales reached about 13. 7m at a seasonally adjusted annual rate.Stripping out autos, overall retail sales fell 0.2 per cent compared with an expected 0.3 per cent gain. Sales excluding autos and petrol were flat in December.46.With sales of motor vehicles and parts excluded, the overall retail sales in the US actually fell slightly.

Passage 2Dell Inc. rose as much as 6.7 percent after its profit topped analysts' estimates, marking the second straight quarter that the company's results outshined those of rival Hewlett-Packard Co.Net income surged to $945 million, or 49 cents a share, from 341 million, or 17 cents, a year earlier, Dell said yesterday. Excluding certain costs, eamings were 55 cents in the period,which ended April 29. Analysts estimated 43 cents on average, according to data compiled by Bloomberg.Dell's emphasis on business customers, bolstered by an expansion into corporate data centers,is helping it withstand a slump in consumer demand. A slowdown in home-computer sales has roiled industry leader Hewlett-Packard, which cut its annual sales forecast eadlier yesterday. While Dell also saw its consumer revenue drop, the company said it was able to squeeze more profit out of each sale."They executed much better than expected despite strong headwinds,"said Shaw Wu, an analyst at Sterne Agee& Leach Ine. in San Francisco. Dell gets about20 percent of sales from consumers, compared with about 30 percent at Hewlett-Packard, said Wu, who has a neutral rating on Dell shares.Dell, based in Round Rock, Texas, gained 85 cents, or 5.4 percent, to $16.75 at 4 p.m.New York time in Nasdaq Stock Market composite trading. The shares have risen 24 percent this year.47.It is the first time that Dell's quarterly profit has surpassed Hewlett-Packard Co.

Passage 2Dell Inc. rose as much as 6.7 percent after its profit topped analysts' estimates, marking the second straight quarter that the company's results outshined those of rival Hewlett-Packard Co.Net income surged to $945 million, or 49 cents a share, from 341 million, or 17 cents, a year earlier, Dell said yesterday. Excluding certain costs, eamings were 55 cents in the period,which ended April 29. Analysts estimated 43 cents on average, according to data compiled by Bloomberg.Dell's emphasis on business customers, bolstered by an expansion into corporate data centers,is helping it withstand a slump in consumer demand. A slowdown in home-computer sales has roiled industry leader Hewlett-Packard, which cut its annual sales forecast eadlier yesterday. While Dell also saw its consumer revenue drop, the company said it was able to squeeze more profit out of each sale."They executed much better than expected despite strong headwinds,"said Shaw Wu, an analyst at Sterne Agee& Leach Ine. in San Francisco. Dell gets about20 percent of sales from consumers, compared with about 30 percent at Hewlett-Packard, said Wu, who has a neutral rating on Dell shares.Dell, based in Round Rock, Texas, gained 85 cents, or 5.4 percent, to $16.75 at 4 p.m.New York time in Nasdaq Stock Market composite trading. The shares have risen 24 percent this year.48.Analysts estimated that Dell's net income was 43 cents a share on average.

Passage 2Dell Inc. rose as much as 6.7 percent after its profit topped analysts' estimates, marking the second straight quarter that the company's results outshined those of rival Hewlett-Packard Co.Net income surged to $945 million, or 49 cents a share, from 341 million, or 17 cents, a year earlier, Dell said yesterday. Excluding certain costs, eamings were 55 cents in the period,which ended April 29. Analysts estimated 43 cents on average, according to data compiled by Bloomberg.Dell's emphasis on business customers, bolstered by an expansion into corporate data centers,is helping it withstand a slump in consumer demand. A slowdown in home-computer sales has roiled industry leader Hewlett-Packard, which cut its annual sales forecast eadlier yesterday. While Dell also saw its consumer revenue drop, the company said it was able to squeeze more profit out of each sale."They executed much better than expected despite strong headwinds,"said Shaw Wu, an analyst at Sterne Agee& Leach Ine. in San Francisco. Dell gets about20 percent of sales from consumers, compared with about 30 percent at Hewlett-Packard, said Wu, who has a neutral rating on Dell shares.Dell, based in Round Rock, Texas, gained 85 cents, or 5.4 percent, to $16.75 at 4 p.m.New York time in Nasdaq Stock Market composite trading. The shares have risen 24 percent this year.49.Because Dell now focuses on business customers, its consumer demand remains relatively stable.

Passage 2Dell Inc. rose as much as 6.7 percent after its profit topped analysts' estimates, marking the second straight quarter that the company's results outshined those of rival Hewlett-Packard Co.Net income surged to $945 million, or 49 cents a share, from 341 million, or 17 cents, a year earlier, Dell said yesterday. Excluding certain costs, eamings were 55 cents in the period,which ended April 29. Analysts estimated 43 cents on average, according to data compiled by Bloomberg.Dell's emphasis on business customers, bolstered by an expansion into corporate data centers,is helping it withstand a slump in consumer demand. A slowdown in home-computer sales has roiled industry leader Hewlett-Packard, which cut its annual sales forecast eadlier yesterday. While Dell also saw its consumer revenue drop, the company said it was able to squeeze more profit out of each sale."They executed much better than expected despite strong headwinds,"said Shaw Wu, an analyst at Sterne Agee& Leach Ine. in San Francisco. Dell gets about20 percent of sales from consumers, compared with about 30 percent at Hewlett-Packard, said Wu, who has a neutral rating on Dell shares.Dell, based in Round Rock, Texas, gained 85 cents, or 5.4 percent, to $16.75 at 4 p.m.New York time in Nasdaq Stock Market composite trading. The shares have risen 24 percent this year.50.Hewlett-Packard forecast a drop in its annual sales due to the slowdown in home-computer sales.