The ISM Services PMI rose to 52.4 in October 2025 from 50 in September, beating forecasts of 50.8, pointing to the strongest expansion in the services sector since February. Both business activity (54.3 vs 49.9) and new orders (56.2 vs 50.4) rebounded while the continued contraction in employmet (48.2 vs 47.2) shows a lack of confidence in the continued strength of the economy. "There was no indication of widespread layoffs or reductions in force, but the federal government shutdown was mentioned several times as impacting business activity and generating concerns for future layoffs",...
The UK economy fared better than expected in the second quarter, bringing some relief for Chancellor of the Exchequer Rachel Reeves but raising the bar to further interest-rate cuts from the Bank of England. Gross domestic product rose 0.3%, the Office for National Statistics said Thursday, beating the 0.1% forecast by both private-sector economists and the Bank of England. Output in June alone gained 0.4% — double expectations — following modest declines in the previous two months. The figures suggest the economy held up during what always expected to be a difficult...
Employment in Australia increased by 24,500 to a record peak of 14.64 million in July 2025, sharply picking up from a downwardly revised 1,000 rise in the previous month but slightly below market consensus of a 25,000 gain. Full-time employment surged 60,500 to a record peak of 10.13 million, swinging from a downwardly revised 36,700 gain in June. However, part-time employment declined by 35,900 to 4.52 million, erasing a downwardly revised 37,600 increase in June. The employment-to-population ratio edged up to 64.2%, with the participation rate steady at 67.1%. Year-on-year, total...
Australia will release its July monthly employment report on Thursday at 1:30 GMT, following the Reserve Bank of Australia (RBA) decision to trim the Official Cash Rate (OCR) by 25 basis points (bps) to 3.6%. The Australian Bureau of Statistics (ABS) is expected to announce that the country added 25,000 new job positions in the month, after adding the measly 2,000 announced in June. The Unemployment Rate is foreseen declining to 4.2% after spiking to 4.3% in the previous month, while the Participation Rate is expected to remain unchanged at 67.1%. Australian ABS reports both full-time and...
US President Donald Trump said he would be speaking to European leaders shortly as he prepares for his summit later this week with Russian counterpart Vladimir Putin. "Will be speaking to European Leaders in a short while. They are great people who want to see a deal done," Trump wrote on social media Wednesday. The call comes as Trump ramps up diplomatic efforts to end Russia's war in Ukraine — now well into its fourth year — with a face—to-face meeting with Putin on American soil. The sitdown slated for Friday in Alaska has raised worries among Kyiv's allies that...
US Treasury Secretary Scott Bessent said interest rates are "too constrictive" and should likely be 150-175 basis points lower. Bessent, speaking in an interview on Bloomberg Television, said the Federal Reserve could be heading into a series of rate cuts in the coming months — starting with a half-point reduction in September. "There's a very good chance of a 50 basis point rate cut," Bessent said Wednesday. "We could go into a series of rate cuts here, starting with a 50 basis point rate cut in September." Bessent added, that by any model, rates "should probably be 150,...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
American consumers struggling to access food assistance payments due to the government shutdown are unable to fill their shopping carts, and that's "hurtful," according to the company behind Stop...