International

US consumer confidence dips in November: survey

| By AFP |

US consumers were gloomier about the state of the American economy in November, likely due to a rise in gas prices and as recession risks loom, according to a survey released Tuesday.

The closely-watched consumer confidence index dipped to 100.2 in November, down two points from the month before, in a second straight month of decline, said think tank The Conference Board.

“Consumers’ expectations regarding the short-term outlook remained gloomy,” said Lynn Franco, senior director of economic indicators at The Conference Board.

The drop in consumer confidence this month, in line with analyst expectations, was “most likely prompted by the recent rise in gas prices,” she said.

20251220_limites_newscentral_728x90

Data on consumers’ short-term outlook suggests the likelihood of a recession remains elevated as well.

“Inflation expectations increased to their highest level since July, with both gas and food prices as the main culprits,” Franco said.

Consumer inflation in the United States has been hovering at the highest level in decades, prompting the Federal Reserve to take aggressive steps to raise interest rates and cool the economy.

The central bank walks a tightrope trying to bring down surging costs while avoiding tipping the world’s biggest economy into a downturn.

For now, consumer intentions to buy homes, automobiles and big-ticket appliances have moderated.

20251220_limites_newscentral_728x90

“The combination of inflation and interest rate hikes will continue to pose challenges to confidence and economic growth into early 2023,” Franco said.

But with inflation showing signs of easing and central bankers noting it would take time for policy effects to be realized, a growing number of voices including Fed officials have advocated for smaller steps in the coming months.

The consumer sentiment reading “remains depressed compared to pre-pandemic” levels, said economist Rubeela Farooqi of High Frequency Economics.

Overall, measures of sentiment “are sending a negative signal about household spending,” even if consumption continues to support growth for now, she added.

20251220_limites_newscentral_728x90

International

Fire at substation triggers major blackout in San Francisco

The U.S. city of San Francisco was plunged into darkness Saturday night after a power outage left about 130,000 customers without electricity, although the utility company said service was restored to most users within hours.

Pacific Gas & Electric Company (PG&E) said in a statement posted on X that nearly 90,000 homes had their power restored by 9:00 p.m. local time (05:00 GMT on Sunday), while the remaining 40,000 customers were expected to have service restored overnight.

Large areas of the city, a major technology hub with a population of around 800,000, were affected by the blackout, which disrupted public transportation and left traffic lights out of service during the busy weekend before Christmas, a crucial period for retail businesses.

“I know it’s been a difficult day,” San Francisco Mayor Daniel Lurie said in a video posted on social media from the city’s emergency operations center. “There has been progress, but for those still without power, we want to make sure they are safe and checking in on their neighbors,” he added.

Lurie said police officers and firefighters advised residents to stay home as much as possible. He also noted that officers and traffic inspectors were deployed to manage intersections where traffic lights were not functioning.

20251220_limites_newscentral_728x90

The mayor confirmed that the outage was caused by a fire at an electrical substation. Parts of the city were also covered in fog, further complicating conditions during the incident.

As a result of the blackout, many businesses were forced to close despite it being the weekend before Christmas. The sudden drop in shopper traffic ahead of the holiday is “devastating” for retailers, the manager of home goods store Black & Gold told the San Francisco Chronicle.

International

Cristina Kirchner recovering after appendicitis surgery in Buenos Aires

Former Argentine President Cristina Kirchner underwent surgery on Saturday after being diagnosed with appendicitis and is recovering “without complications,” according to a medical report released by the Otamendi Sanatorium.

Kirchner was admitted to the Buenos Aires medical center on Saturday after experiencing abdominal pain. Doctors performed a laparoscopic procedure that confirmed a diagnosis of “appendicitis with localized peritonitis,” the statement said, adding that her post-operative recovery has been progressing without complications.

The former president was transferred to the clinic with judicial authorization from her apartment in Buenos Aires, where she is serving a six-year sentence under house arrest for corruption.

International

Argentina detects first local cases of Influenza A (H3N2) Subclade K

Argentina’s National Administration of Laboratories and Health Institutes (ANLIS) “Dr. Carlos G. Malbrán” has confirmed the detection of three cases of influenza A (H3N2) corresponding to subclade K in the country. These are the first locally recorded cases of this variant, which has become predominant in several countries in the Northern Hemisphere in recent months and is associated with higher transmissibility.

The cases were identified through the National Network of Laboratories and Sentinel Units and confirmed by the National Reference Laboratory of INEI-ANLIS using genomic sequencing techniques. According to health authorities, the cases involve two adolescents from the province of Santa Cruz, detected as part of the Ambulatory Monitoring Strategy for Acute Respiratory Infections, and a child who had been hospitalized in the Autonomous City of Buenos Aires.

In all three cases, patients experienced mild illness and recovered without complications. Officials did not specify whether any of the affected individuals had a recent travel history.

The jurisdictions involved have already launched the corresponding epidemiological investigations and are responsible for ensuring timely medical care for the detected cases. According to the latest integrated surveillance report, the circulation of influenza and other respiratory viruses in Argentina remains within expected levels for this time of year.