FinancialBuzz.com: Consumer Spending Expected to Increase

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Dec 13, 2016, 09:38 ET

NEW YORK, December 13, 2016 /PRNewswire/ --

Consumer spending in the United States is estimated to be 11637.97 USD Billion by the end of the year. According to data published by Trading Economics, it is estimated that consumer spending in the United States alone will reach 11864.20 USD Billion in 12-month time. By 2020, the research's global macro models estimate that the United States Consumer Spending is projected to trend around 12523.23 USD Billion. Petrone Worldwide, Inc. (OTC: PFWI), A. M. Castle & Co. (OTC: CASL), Liquidmetal Technologies Inc. (OTC: LQMT), Kaya Holdings Inc. (OTC: KAYS), Novus Acquisition & Development Corporation (OTC: NDEV).

Gallup is keeping track of average spending per capita. According to the company's report Americans' daily self-reports of spending averaged $98 in November, up from $93 in October. The latest figure exceeds the $92 average recorded in the same month a year ago and is the highest for any November since Gallup began tracking consumer spending in 2008. A significant portion of the increase in consumer spending globally, including in the U.S, is the continues increasing popularity of the hospitality and leisure industries. The latest UK Consumer Spending Index from Visa shows that Hotels, restaurants and bars saw the strongest annual rate of expenditure growth of 9% and the fastest rate of growth.

Petrone Worldwide, Inc. (OTCQB: PFWI) is an importer and distributor of commercial grade tableware products, decorative hotel guest room amenities, lavatory and bathroom fixtures and furniture, food and beverage service items, and trendy accessories for the Asian and the European marketplaces. The Company's brands include Front of the House and Room 360. The company has recently announced that it has officially up-listed from the OTCPink Exchange to the OTCQB Venture Exchange as of December 7, 2016.

CEO and founder of Petrone Worldwide, Inc., Victor Petrone, said in a statement, "Petrone Worldwide has been signing new contracts and increasing the Company's market presence in Europe and Asia at a rate that even amazes me and other Company executives. It is a strong endorsement and a great validation to PFWI when companies such as Home Depot, TJ Maxx, Bed Bath & Beyond and other top companies are doing business with you."

A. M. Castle & Co. (OTCQB: CASL) has recently executed and closed its agreement for a new $112 million secured term credit facilities. "These new credit facilities will enhance Castle's liquidity and better position the Company to advance its ongoing efforts to capitalize on market opportunities. We are excited to have the support of the financial institutions funding the Credit Facilities," said President and Chief Executive Officer, Steve Scheinkman. The company is a global distributor of specialty metal and supply chain services, principally serving the producer durable equipment, commercial aircraft, heavy equipment, industrial goods, construction equipment, and retail sectors of the global economy.

Liquidmetal Technologies Inc. (OTCQB: LQMT) is a materials technology and manufacturing company that develops and commercializes products made from amorphous alloys. The primary business of the Company is to develop and manufacture products and applications from amorphous alloys. The Company designs, develops, manufactures and sells products and components from bulk amorphous alloys to customers in a range of industries. The Company's Liquidmetal family of alloys consists of a range of bulk alloys and composites that utilize the amorphous alloy technology. It also partners with third-party manufacturers and licensees to develop and commercialize Liquidmetal alloy products. It designs, develops and produces components for non-consumer electronic devices utilizing its bulk Liquidmetal alloys. Its product categories in the non-consumer electronics field include aerospace components, defense parts, medical devices, sporting goods, leisure products, automotive components and industrial machines.

Kaya Holdings Inc. (OTCQB: KAYS), through its subsidiary, Marijuana Holdings Americas Inc. owns and operates the Kaya Shack™, the first legal marijuana dispensary by a United States publicly traded company. KAYS creates and establishes its own brands that produce, distribute and/or sell premium cannabis products, including flower, concentrates, and cannabis-infused baked goods and candies. The company has recently announced that it will host an event that will include a video of the 2 existing Kaya Shack Marijuana Dispensaries and the Company's Grow Facility, as well as discussion on the two new Kaya Shack Marijuana Superstores under construction and pending licensing, operations including the state of the market, recent election results, and growth plans for the future.

Diversified insurance entity in health, liability and excess, Novus Acquisition & Development Corporation (OTC: NDEV) is the nation's first healthcare insurance carrier in the medical cannabis sector. Through its subsidiary WCIG Insurance, provides health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has positioned itself to gain market share within many lines of insurance business within and outside of the medical marijuana sector.

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