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....
Japan's unemployment rate rose for the first time in four months in July, in a slightly negative signal for both the Bank of Japan and the government. The jobless rate increased to 2.7% from June, the ministry of internal affairs said Tuesday. Economists had expected the reading to hold at 2.5%. The number of workers fell by 100,000 from the previous month, while those without jobs rose by 110,000. Separate data provided a slightly negative outlook for Japan's labor market conditions, with the jobs offers-to-applicants ratio declining to 1.29 in July from 1.30. The data...
Australian retail sales rebounded surprisingly strongly in July, suggesting the nation's heavily indebted households retain spending power even after the Reserve Bank's 12 interest-rate increases. Sales advanced 0.5% from a month earlier, when they declined 0.8% and compared with estimates for a 0.3% rise, Australian Bureau of Statistics data showed Monday. The jump was driven by non-food industries. The strength in household spending jars with downbeat consumer sentiment and raises questions over whether the RBA needs to do more to curb demand and cool prices. Policymakers will...
A survey of consumer sentiment hung close a two-year high in August, but Americans expressed more worries about the future of the economy. The final reading of the sentiment survey in August slipped to 69.5 from a preliminary 71.2, the University of Michigan said Friday. The index hit a 22-month high in July. The consumer-sentiment survey reveals how consumers feel about their own finances as well as the broader economy. Key details: A gauge that measures what consumers think about the current state of the economy registered 75.7 at the end of August vs. an initial 77.4 A measure that...
The headline German IFO Business Climate Index dropped further to 85.7 in August versus last month's 87.4 and the market expectations of 86.7. Meanwhile, the Current Economic Assessment Index fell to 89.0 points in the reported month, compared with July's 91.4 and 90.0 anticipated. The IFO Expectations Index indicating firms' projections for the next six months, declined to 82.6 in August from the previous month's 83.6 reading. The data fell short of market expectations of 83.8. Market reaction EUR/USD is holding lower ground on the downbeat German IFO survey. At the time of writing, the...
Inflation in Tokyo slowed below 3% for the first time in almost a year, an outcome that supports the Bank of Japan's view that price growth will cool and its argument that monetary easing still needs to be maintained. Consumer prices excluding fresh food rose 2.8% in the capital, decelerating from July largely on bigger falls in electricity and gas prices, according to the ministry of internal affairs Friday. The reading was weaker than economists' consensus forecast of 2.9%. The Tokyo figures serve as a leading indicator of the national trend and suggest that the country's price...
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...