SUMMARY: US retail sales increased by 0.2% in February, a slight recovery following a 1.2% decline in January, according to the Commerce Department. While grocery stores, home and garden retailers, and online shops saw sales rise, auto dealers, restaurants, and electronics experienced declines. Consumer sentiment dropped for the third consecutive month, largely due to uncertainties around tariffs and government policies. Notably, consumers from all income levels are feeling more financially strained, with major retailers like Walmart and Dollar General highlighting increased challenges among their customers, who are focusing on basic essentials amid ongoing inflation and economic concerns.

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SUMMARY: Americans are facing record auto loan defaults, driven by rising vehicle and financing costs. In 2024, over 4% of auto loan holders had payments exceeding $11,000, up from 1% in 2020. The average price for a new vehicle is over $47,000, and many borrowers are struggling as cost-of-living pressures make payments difficult. Subprime loan holders are especially affected, with 6.6% of them 60 days past due. Longer loan terms are becoming common, with 66% of new cars financed for 72 months or more. Higher insurance, repair rates, and tariffs further strain consumers, pushing them into a tough cycle of debt.

Andres Guiterrez reports 6.6% of vehicle owners with sub prime loans are at least 60 days past due on payments.

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SUMMARY: The European Union is hosting a donor conference in Brussels to rally support for Syria’s transition following President Bashar Assad’s ousting last December. The one-day meeting includes ministers from Western nations, neighboring Arab countries, and U.N. agencies, marking Syria’s first attendance with Foreign Minister Asaad Hassan al-Shibani. While Syria’s interim government seeks legitimacy and financial aid amid severe sanctions and ongoing security issues, the EU expresses caution due to regional instability and sectarian violence. The conference aims to address Syria’s economic needs for rebuilding, as humanitarian conditions remain dire, with high unemployment and millions displaced.

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