Retail sales were flat last month in the U.K., limiting the boost to wider economic growth at the start of the year. Total sales volumes were no higher in March than in February, according to figures released Friday by the Office for National Statistics. This was a weaker reading than had been forecast, with economists polled by The Wall Street Journal expecting sales to climb 0.3% on month. February's total was revised slightly higher, however. For the quarter as a whole, sales were 1.9% higher than in the previous three months, which were marked by a disappointing Christmas sales season....
Asia-Pacific markets tumbled after U.S. inflation for March came in hotter than expected, stoking worries that the Federal Reserve may keep interest rates higher for longer. U.S. consumer price index climbed 3.5% on a year-on-year basis and 0.4% compared with the previous month. Economists surveyed by Dow Jones had expected a 0.3% month-on-month gain and 3.4% year-over-year rise. Excluding volatile food and energy components, the core CPI also accelerated 0.4% on a monthly basis while rising 3.8% from a year earlier, compared with respective estimates for 0.3% and 3.7%. China's consumer...
Stocks tanked on Wednesday after March inflation data came in hotter than expected, likely pushing off interest rate cuts by the Federal Reserve that investors have been anticipating. Investor sentiment was further dampened following the release of March's Fed meeting minutes, which reflected officials' concerns that inflation isn't moving quickly enough toward the central bank's 2% target. The Dow Jones Industrial Average dropped 422.16 points, or 1.09%, to end at 38,461.51. The S&P 500 slid 0.95% to 5,160.64. Nasdaq Composite tumbled 0.84% to close at 16,170.36. With the exception...
A measure of underlying US inflation topped forecasts for a third straight month, signaling persistent price pressures that will likely delay any Federal Reserve interest-rate cuts until later in the year. The so-called core consumer price index, which excludes food and energy costs, increased 0.4% from February, according to government data out Wednesday. From a year ago, it advanced 3.8%, holding steady from the prior month. Economists see the core gauge as a better indicator of underlying inflation than the overall CPI. That measure climbed 0.4% from the prior...
US payrolls rose in March by the most in nearly a year and the unemployment rate dropped, pointing to a strong labor market that's powering the economy. Nonfarm payrolls advanced 303,000 last month following a combined 22,000 upward revision to job gains in the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate fell to 3.8%. The labor market has been the stalwart of the US economy, giving Americans the wherewithal to keep spending in the face of high prices and borrowing costs. Officials will see fresh figures...
US initial jobless claims rose to 221,000 in the week ended March 30 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller increase to 214,000 in survey of analysts compiled by Bloomberg as of 7:45 am ET. The four-week moving average rose by 2,750 to 214,250 after decreasing by 250 to a level of 211,500 in the previous week. Insured jobless claims fell by 19,000 to 1,791,000 in the week ended March 23. The weekly initial jobless claims data released by the US Labor Department measures filings for unemployment insurance benefits. Initial...
Asia-Pacific markets tumbled after U.S. inflation for March came in hotter than expected, stoking worries that the Federal Reserve may keep interest rates higher for longer.
U.S. consumer price...
Stocks tanked on Wednesday after March inflation data came in hotter than expected, likely pushing off interest rate cuts by the Federal Reserve that investors have been anticipating.
Investor...
U.K. consumer prices accelerated well beyond the Bank of England's target for a second month, propelled by the global disruption in supply chains that pushed up transport costs.
Consumer prices...
Australian inflation eased from 33-year highs in the first quarter as the cost of living saw the smallest rise in more than a year, while core inflation dipped below forecasts suggesting less...