Sales at retail stores surged in May, but the increase was a double-edged sword. Americans are spending more because of a strong economy, but rising inflation also means they have to pay more for gas and other staples. Retail sales nationwide jumped by 0.8% last month, twice as high as the MarketWatch forecast. Sales growth in April and March were also revised up sharply, partly reflecting changes in how the government calculates the numbers. Retail sales have risen a solid 5.9% over the past 12 months, the government said Thursday. Sales are rising at a more than 5% yearly pace even if...
The number of Americans losing their jobs fell for the fourth week in a row in mid-June, keeping the rate of layoffs near levels last seen in the early 1970s. Initial jobless claims declined by 3,000 to 218,000 in the seven days ended June 16, in line with the MarketWatch forecast. New applications for unemployment benefits were essentially flat. Although the government reported a small decline, it had revised new claims from the prior week up to 221,000 from an original 218,000 reading. The more stable monthly average of new claims dropped by 4,000 last week to 221,000, settling just...
Existing-home sales ran at a seasonally-adjusted annual 5.43 million rate in May, down 0.4% from April, the National Association of Realtors said Wednesday. Sales of previously-owned homes fell for the second straight month, as a supply shortage continues to bite the market. In May, sales were 3.0% lower than a year ago, and Aprils selling pace was revised down. The median forecast among economists surveyed by MarketWatch was for a 5.52 million pace. Conditions in the housing market havent shifted much in recent years. There arent enough homes to buy, whether existing or new, so...
Housing starts ran at a seasonally adjusted annual 1.35 million annual rate in May, the Commerce Department said Tuesday. Permits were at a 1.3 million seasonally adjusted annual rate. Builders broke ground on more homes in May, a good signal about the health of the economy and the housing market. At a 1.35 million pace, housing starts saw the fastest activity since 2007. The reading edged the forecast among economists surveyed by MarketWatch, for a 1.3 million pace. It was 5% higher than April, and 20.3% higher than a year ago. One weak spot in the report was permits, which foreshadow...
Sales at retail stores surged in May, but the increase was a double-edged sword. Americans are spending more because of a strong economy, but rising inflation also means they have to pay more for gas and other staples. Retail sales nationwide jumped by 0.8% last month, twice as high as the MarketWatch forecast. Sales growth in April and March were also revised up sharply, partly reflecting changes in how the government calculates the numbers. Retail sales have risen a solid 5.9% over the past 12 months, the government said Thursday. Sales are rising at a more than 5% yearly pace even if...
U.K. retail sales jumped more than economists forecast in May as warm weather and the Royal Wedding prompted consumers to spend. Sales climbed 1.3 percent from April, compared with a median estimate of a 0.5 percent gain in a Bloomberg survey. The increase was led by food and clothing, according to data from the Office for National Statistics in London. Excluding auto fuel, sales rose 1.3 percent. A scorching early May bank holiday and above-average temperatures throughout the month prompted Britons to splash the cash, delivering a welcome boost to beleaguered retailers after...
China's economy showed signs of losing steam in May, with an unexpected slowdown in factory output and lackluster investment and consumption.
Industrial output rose 6.8 percent in May from a...
The number of Americans losing their jobs fell for the fourth week in a row in mid-June, keeping the rate of layoffs near levels last seen in the early 1970s.
Initial jobless claims declined by...
Economic momentum in the euro area unexpectedly picked up in June, although worrying signs persist for the common-currency region, IHS Markit said Friday.
A composite purchasing...
Australia's central bank is looking for a tightening labor market to drive wages higher and spur inflation before it considers raising interest rates. The statistics bureau released the data in...