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....
U.S. business activity held steady in March, but prices increased across the board, suggesting that inflation could remain elevated after picking up at the start of the year. S&P Global said on Thursday that its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, dipped to 52.2 this month from 52.5 in February. A reading above 50 indicates expansion in the private sector. The modest slowdown reflected a further cooling in services sector activity. Manufacturing climbed to a 21-month high. The survey suggested that the economy ended the first...
US initial jobless claims fell to 210,000 in the employment survey week ended March 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for an increase to 213,000 in survey of analysts compiled by Bloomberg as of 7:45 am ET. Initial claims were at a level of 200,000 in the employment survey week ended Feb. 17. The four-week moving average rose by 2,500 to 211,250 after increasing by 250 to a level of 208,750 in the previous week. Insured jobless claims increased by 4,000 to 1,807,000 in the week ended March 9. The weekly initial jobless claims data...
British businesses kept up their recovery from recession this month but stubborn price pressures could bolster the Bank of England's wait-and-see approach to interest rates, a survey showed Thursday. Closely watched by the BoE ahead of its 1200 GMT interest rate decision, the S&P Global Composite Purchasing Managers' Index (PMI) inched down to 52.9 in March from 53.0 in February. A Reuters poll of economists had pointed to a reading of 53.1. Despite the slight fall, the index notched up a fifth month above the 50 threshold for growth and signalled Britain is on track to exit the...
Germany's economic downturn eased slightly in March as business activity in the country's service sector came close to stabilising, a preliminary survey showed on Thursday. The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 47.4 in March from 46.3 in February. That was in contrast to forecasts in a Reuters poll for an increase to 47.0. March was the ninth month in a row with a reading below the 50 mark, which points to a contraction in business activity. "Overall, Germany now teeters on the edge of a technical recession," said Cyrus de la...
French business activity shrank for a tenth consecutive month in March, according to a monthly survey, as demand for French goods and services deteriorated and employment fell. The HCOB flash purchasing managers index for France's dominant services sector, compiled by S&P Global, fell to 47.8, down from 48.4 in February and below the 48.7 forecast in a Reuters poll. Any figure below 50 marks a contraction, while above 50 shows an expansion in activity. The flash manufacturing PMI fell to 45.8 points - also worse than a Reuters poll forecast for 47.5 points and below February's final...
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...