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....
Job creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might be starting to ease under pressure from higher interest rates. The firm reported Wednesday that private employers added 177,000 jobs in August, well below the revised total of 371,000 jobs added in July. Economists surveyed by Dow Jones were expecting 200,000 jobs added in August. ADP also reported that pay growth slowed for workers who changed jobs and those who stayed in their current positions. "This month's numbers are consistent with the...
Spanish inflation quickened again in the first of a string of reports from around the region that will help European Central Bank officials judge whether to keep raising interest rates. Consumer prices rose 2.4% in August from a year earlier, up from 2.1% the prior month, driven by fuel costs, the country's statistics agency said on Wednesday. The outcome matched the median estimate in a Bloomberg survey of economists. It's the second consecutive month of acceleration. The numbers from the region's fourth-biggest economy kick off more than 24 hours of...
According to the latest data published by the Australian Bureau of Statistics (ABS) on Wednesday, Australia's monthly Consumer Price Index (CPI) rose 4.9% in the year to July 2023, as against the annual increase of 5.4% seen in June. The market had expected an increase of 5.2% in the reported period. The selling pressure in the AUD/USD pair gathered steam on cooling Australian inflation, which douses expectations of any more rate hikes by the Reserve Bank of Australia (RBA). The pair is losing 0.42% on the day to trade at 0.6450, as of writing. The quarterly Consumer Price Index (CPI)...
US consumer confidence fell by more than forecast in August as an uncertain economic outlook and lingering inflation curbed optimism. The Conference Board's index fell to 106.1 this month from 114 in July, data out Tuesday showed. The median forecast in a Bloomberg survey of economists called for a reading of 116. The group's gauge of current conditions fell to 144.8, the lowest since November. A measure of expectations -- which reflects consumers' six-month outlook -- dropped to 80.2. A gauge of expected inflation a year ahead edged up to 5.8%....
The number of job openings on the last business day of July stood at 9.58 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. This reading followed 9.16 million (revised from 9.58 million) openings in June and came in below the market expectation of 9.46 million. "Over the month, the number of hires and total separations changed little at 5.8 million and 5.5 million, respectively," the BLS further noted in its publication and added: "Within separations, quits (3.5 million) decreased, while layoffs and discharges (1.6...
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...