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....
A measure of wholesale prices rose more than expected in September, indicating that inflation remains a problem for the U.S. economy. The producer price index, which measures costs for finished goods that producers pay, increased 0.5% for the month, against the Dow Jones estimate for a 0.3% rise, the Labor Department reported Wednesday. Excluding food and energy, core PPI was up 0.3%, versus the forecast for 0.2%. Excluding food, energy and trade services, the index rose 0.2%, in line with the estimate. Source : CNBC
US employment unexpectedly surged in September by the most since the start of the year, illustrating a durable labor market and bolstering the case for another Federal Reserve interest-rate hike. Nonfarm payrolls increased 336,000 last month after sizable upward revisions to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.8%, and wages rose at a modest pace. The surprising vigor of the job market suggests companies remain confident about their sales prospects. While the pace of hiring has cooled since last year,...
Applications for US unemployment benefits remained historically low last week, highlighting ongoing strength in the labor market. Initial jobless claims ticked up slightly to 207,000 in the week ending Sept. 30, according to Labor Department data out Thursday. The median estimate in a Bloomberg survey of economists called for an increase to 210,000. Continuing claims, a proxy for the number of people receiving unemployment benefits, were also little changed at 1.7 million in the week through Sept. 23. The resilient labor market has continued to power consumer spending in the face of...
The economic activity in the US service sector continued to expand in September, for the ninth consecutive month, with the ISM Services PMI falling from 54.5 to 53.6. This reading came in line with market expectations. Further details of the publication revealed that the Employment Index fell from 54.7 to 53.4; while the Prices Paid Index remained at 58.9. "There has been a slight pullback in the rate of growth for the services sector, which is attributed to slower rates of growth in the New Orders and Employment indexes. The majority of respondents remain positive about business...
Private sector employment in the US rose 89,000 in September, the data published by Automatic Data Processing (ADP) showed on Wednesday. This reading followed the 180,000 increase (revised from 177,000) recorded in August and missed the market expectation of 153,000 by a wide margin. "Job stayers saw a 5.9 percent year-over-year pay increase in September, marking the 12th straight month of slowing growth," the publication read. "Pay gains also shrank for job changers, to 9 percent, down from 9.7 percent in August." Commenting on the report's findings, "we are seeing a steepening decline in...
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...