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 private survey of China's manufacturing activity unexpectedly expanded in August, an encouraging sign for factories searching for an end to their slump. The Caixin manufacturing purchasing managers index rose to 51 last month, the highest reading since February, and showing a return to expansion after a contraction in July. Economists surveyed by Bloomberg had expected a weakening of the index. The data comes a day after the official manufacturing PMI showed the contraction in activity easing in August as new orders and production improved. The Caixin survey...
A key measure of underlying US inflation posted the smallest back-to-back monthly gains in over two years, encouraging a burst of consumer spending and feeding growing expectations that the economy can avert recession. The core personal consumption expenditures price index, which strips out the volatile food and energy components, rose 0.2% in July for a second month. The overall PCE price index also increased 0.2%, Bureau of Economic Analysis data showed Thursday. Inflation-adjusted consumer spending increased 0.6% last month on the heels of a solid gain in June....
Initial Jobless Claims totaled 228,000 in the week ending August 26, the weekly data published by the US Department of Labor (DOL) showed on Thursday. It is the lowest reading in four weeks. This follows the previous week's print of 232,000 (revised from 230,000) and came in below the market expectation of 235,000. Further details of the publication revealed "The 4-week moving average was 237,500, an increase of 250 from the previous week's revised average. The previous week's average was revised up by 500 from 236,750 to 237,250." Continuing claims rose by 28K in the week ending August 19...
Euro zone inflation held steady this month but underlying price growth fell as expected, a mixed picture that complicates life for the European Central Bank as it weighs the merits of a pause in rate hikes in the face of a visible slowdown in growth. Overall inflation in the 20 countries sharing the euro was unchanged at 5.3% in August, defying expectations for a drop to 5.1%, Eurostat data showed on Thursday. But a key underlying measure that filters out volatile food and energy prices eased as expected to 5.3% from July's 5.5%. The ECB has raised rates at each of its meetings over the...
China's official Manufacturing Purchasing Managers' Index (PMI) rose further to 49.7 in August, compared with the 49.3 contraction in July, the latest data published by the country's National Bureau of Statistics (NBS) showed on Thursday. The market expectation was for a 49.4 figure. The index remained below the 50 mark, which separates expansion from contraction, for a fifth straight month. The NBS Services PMI fell to 51.0 in August versus the expected 51.1 figure and 51.5 previous. The mixed readings of the Chinese PMIs fail to deter the Aussie Dollar buyers, with AUD/USD...
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...