Thursday, 04 June 2020
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Wednesday, 3 June 2020 21:19 WIB

U.S. services industry activity pushed off an 11-year low in May, but businesses appeared in no rush to rehire workers as they reopen, supporting views the economy could take years to recover from the devastation caused by the COVID-19 crisis. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index rose to a reading of 45.4 last month from 41.8 in April, which was the lowest since March 2009 and first contraction since December 2009. A reading below 50 indicates contraction in the services sector, which accounts for more than two-thirds of U.S....

RECENT NEWS
China's Service Sector Activity Expands at a Faster Pace in April - Official PMI
Thursday, 30 April 2020 08:47 WIB | ekonomi China

Chinas services activity expanded at a faster pace in April, but business is expected to take some time to fully recover due to the lingering impact from the coronavirus crisis at home and globally. The official non-manufacturing Purchasing Managers Index (PMI) rose to 53.2, from 52.3 in March, the National Bureau of Statistics said on Thursday. The 50-point mark separates growth from contraction on a monthly basis. Beijing is counting on a bounce in services sector to help revive its economy ravaged by the pandemic. But analysts caution that the recovery will be constrained by weak...

Coronavirus Hammered U.S. Economy in First Quarter
Wednesday, 29 April 2020 20:00 WIB | GDP AS

The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation's history. The Commerce Department said gross domestic product fell at a 4.8% annualized rate in the January-to-March period after expanding at a 2.1% rate in the final three months of 2019. Economists in a Reuters poll had been looking for a GDP contraction of 4%, though estimates ranged to as low as negative 15%. The decline reflected a plunge in economic...

Consumer Confidence Suffers Record Drop in April, but Americans More Hopeful of Future
Tuesday, 28 April 2020 21:28 WIB | Kepercayaan Konsumen

The confidence Americans have in the economy experienced the biggest plunge in April in modern times as the coronavirus ravaged Main Street and Wall Street. But they are also starting to think the worst might be over. The consumer confidence index sank this month to 86.9 points from a revised 118.8 in March, according to the nonprofit Conference Board, publisher of the report, a bit worse than economists polled by MarketWatch expected. Americans were very pessimistic about whats happening in the country right now, but they were more hopeful that the economy would begin to recover in the...

Durable-Goods Orders Plunge 14.4% in March as Automakers, Boeing Take Big Hit
Friday, 24 April 2020 20:02 WIB | U.S. Durable Goods Pesanan Barang AS

Orders for durable goods sank 14.4% in March largely because of a decline in demand for big-ticket items such as new cars and trucks with the coronavirus sweeping across the country. The sharp decline in demand last month is likely to be the first of series of historically poor numbers with much of the U.S. economy shut down and international trade severely disrupted. Economists surveyed by MarketWatch had forecast a 12.8% decline in orders for long-lasting products made to last at least three years. If cars and planes are stripped out, orders were actually fell just 0.2%. Still, every...

German IFO Business Climate Index misses estimates with 74.3 in April, EUR/USD unmoved
Friday, 24 April 2020 15:19 WIB | German Ifo Business Climate Ekonomi Jerman

The headline German IFO Business Climate Index came in at 74.3 in April, weaker than last month's 85.9 and missing the consensus estimates pointing to a reading of 80.0. Meanwhile, the Current Economic Assessment arrived at 79.5 points in the reported month as compared to last month's 92.9 and 81.0 anticipated. On the other hand, the IFO Expectations Index “ indicating firms' projections for the next six months, came in at 69.4 for April, down from the previous months 79.5 reading and worse than the market expectations of 75.0. The headline IFO business climate index was rebased and...

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ASIA
China's Factory Outlook Improves More than Expected in September
Monday, 30 September 2019 09:02 WIB

A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction. The manufacturing purchasing...

UNITED STATES
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB

The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs even before negotiations with China unraveled and he...

EUROPE
German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB

Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash reading of the country's composite Purchasing...

GLOBAL ECONOMY
First Phase of US-China Trade Deal Announced
Monday, 16 December 2019 09:09 WIB

A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will "have to go out and buy much larger tractors,"...