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NEW YORK Wholesale Lsu Tigers Jersey , March 20 (Xinhua) -- Oil prices rallied Friday as U.S. dollar depreciated against other currencies. A weaker greenback made the dollar-priced crude less expensive and more attractive for buyers holding other currencies.

The U.S. dollar declined against other major currencies on Friday as investors were still digesting a dovish Federal Reserve statement released earlier this week.

The number of U.S. rigs actively drilling for oil and natural gas as of March 20 fell 56 rigs to 1,069, reported oil service company Baker Hughes Friday. These data supported crude prices as analysts believed that low crude prices forced U.S. shale oil producers to slow down the output.

U.S. crude production reached 9.419 million barrels a day last week, the highest level since 1983, according to the Energy Information Administration (EIA), the Energy Department's statistical arm.

U.S. crude stockpiles increased 9.6 million barrels to 458.5 million, 82.7 million barrels more than a year earlier. Meanwhile, inventories at Cushing Wholesale Kansas Jayhawks Jersey , Oklahoma, the delivery point for the contract, gained 2.9 million barrels to 54.4 million barrels.

Light, sweet crude for April delivery gained 1.76 U.S. dollars to settle at 45.72 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery moved up 0.89 dollars to close at 55.32 dollars a barrel.

WASHINGTON, May 5 (Xinhua) -- Chinese consumers will continue to increase in wealth and complexity, and fears about the country' s slowing economy are overblown, experts said.

Many people who worry about economic rebalancing in China focus only on the low share of household consumption of gross domestic product (GDP) instead of getting the big picture of China's consumer story Wholesale Georgia Bulldogs Jersey , said Jeffery Towson, a managing partner of the investment firm Towson Capital, and Jonathan Woetzel, a director in McKinsey's Shanghai office, in a recent article published on the website of McKinsey.

"Regardless of its relative percentage of GDP, China's consumption has been growing faster than just about any other country's in absolute terms," they said, adding that China's consumption grew from around 650 billion U.S. dollars in 2000 to almost 1.4 trillion dollars in 2010.

Given the size of China's consumption Wholesale Florida State Seminoles Jersey , it would "create the largest consumer market in the world" and "have a huge impact on rebalancing," if the consumption share of GDP just rises back to 43 percent in 1995 from 34 percent in 2013, they said.

In other words, the low consumption ratio does not mean China's consumption is weak. On the contrary, China has experienced dramatic consumption growth in the past decade.

Particularly, the rising discretionary spending, which refers to money spent on non-essential purchases, made the experts more optimistic about the country's potential tremendous purchasing power.

"Chinese citizens are now moving beyond being able to only afford the basics of life Wholesale Clemson Tigers Jersey , and their discretionary spending is taking off," they said, adding that Chinese people "seem to have an endless appetite for everything from entertainment to skiing to caffe lattes."

Discretionary spending in China is expected to grow more than 7 percent a year between 2010 and 2020, faster than spending on actual necessities, which are estimated to grow around 5 percent a year, according to the experts.

What's more important, China's household income is now likely above 5 trillion dollars a year, much higher than household income of other developing economies such as Brazil Wholesale Auburn Tigers Jersey , Russia and India, they said.

Household income is a more important gauge of a country's future economic performance, as "you can't have consumption without income," they added.

With GDP growth slowing while household income and consumption remain robust, there is no doubt that the consumption share of GDP in China will increase in the future.

"China has an awesome consumer story," they said. "It may be volatile. It's also somewhat unpredictable. But you just don't get a consumer story this good anywhere else."

BRUSSELS, May 13 (Xinhua) -- The seasonally-adjusted gross domestic product (GDP) rose by 0.4 percent in both the euro zone and the European Union (EU) during the first quarter of 2015, compared to the previous quarter Wholesale Alabama Crimson Tide Jersey , according to flash estimates published by Eurostat on Wednesday.

By contrast, GDP grew by 0.3 percent in the euro zone and by 0.4 percent in the EU in the fourth quarter of 2014.

Compared with the same quarter of the previous year, GDP rose by 1.0 percent in the euro zone and by 1.4 percent in the EU in the first quarter of 2015.

Prince William, Duke of Cambridge, and Catherine, Duchess of Cambridge, depart the Lindo Wing with their newborn daughter at St Mary's Hospital in London, England Wholesale Authentic College Jerseys , May 2, 2015. The baby girl made her first appearance to the public. [PhotoCFP]

LONDON - It's a name that immediately evokes British royal history: Princess Charlotte Elizabeth Diana.

Prince William and his wife Kate, the Duchess of Cambridge, on Monday announced the name they picked for Britain's newborn princess, a choice seen as a tribute to both Prince William's parents and grandmother, the queen, as well as a link to Kate's family.

The princess, the second child of William and Kate Wholesale NCAA College Jerseys , will be known as Her Royal Highness Princess Charlotte of Cambridge, royal officials said.

The birth of Princess Charlotte marks a new chapter for William and Kate, widely seen as the monarchy's most modern, popular couple, but the names they picked are firmly rooted in royal tradition. Charlotte, the feminine form of Charles, appears to be a nod to the newborn's grandfather, Prince Charles. The baby's middle names honor Queen Elizabeth II Wholesale College Jerseys , the infant's 89-year-old great-grandmother, and the late Princess Diana, William's mother and the baby's grandmother.

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