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....
The number of Americans who applied for unemployment benefits rose slightly last week to 204,000, but layoffs remained extremely low and there was no sign of rising unemployment. New jobless claims edged up from a revised 202,000 in the prior week, the government said. Claims show a very low number of job losses, indicating the economy is still on firm ground. Unemployment claims typically rise when the economy weakens and a recession approaches. Economists had forecast new claims in the week ended Sept. 23 to total 214,000. Before the report, the Dow Jones Industrial Average and S&P...
Spain's annual inflation rate climbed to 3.5% in September from 2.6% in August, flash data from the National Statistics Institute showed Thursday. The preliminary reading is consistent with the consensus estimate. On a monthly basis, consumer prices in Spain were up 0.2%, against the prior 0.5% rise and the expected 0.3% increase. Meanwhile, the country's annual harmonized inflation rate was 3.2%, compared with the previous rate of 2.4% and the market forecast of 3.3%. Month over month, harmonized consumer prices rose 0.6%, in line with the analyst estimate. Core inflation rate came in at...
Australian retail sales rose at a weaker pace than expected in August in a sign that the Reserve Bank's rapid interest-rate increases are weighing on the economy. Sales advanced 0.2% from a month earlier, slightly below estimates for a 0.3% rise, Australian Bureau of Statistics data showed Thursday. The gain was driven by clothing and dining out. The slowdown in household spending chimes with downbeat consumer sentiment and bolsters the case for the RBA to stand pat at 4.1% at its policy meeting on Tuesday. The rate-sensitive three-year government bond yield edged down...
Orders for long-lasting goods rose a stronger-than-expected 0.2% in August, but the increase mostly stemmed from higher defense spending as the U.S. sought to replenish military hardware sent to Ukraine. Economists polled by the Wall Street Journal had forecast a 0.5% decline. Durable-goods orders minus defense actually fell 0.7% last month, the government said. In a more positive sign, so-called core orders jumped 0.9%. These order reflect future investment. Before the report, the Dow Jones Industrial Average and S&P 500 were set to open higher in Wednesday trades. Source :...
Australia's monthly inflation gauge accelerated, reflecting global trends amid higher oil prices, bolstering the case for the Reserve Bank to hike at least one more time. The consumer price indicator rose 5.2% in August from a year earlier, matching economists' estimates, Australian Bureau of Statistics data showed Wednesday. The result bucks three months of slowdown in the pace of price gains and will be a focus for new RBA Governor Michele Bullock, who chairs her first board meeting next week. The RBA has placed itself in data-dependent mode after raising interest rates 12 times...
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...