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....
Employment growth at US companies last month exceeded all projections, highlighting a durable labor market that continues to buttress the economy. Private payrolls increased 278,000 following a revised 291,000 gain in April, according to figures published Thursday by the ADP Research Institute in collaboration with Stanford Digital Economy Lab. The median estimate in a Bloomberg survey of economists called for an increase of 170,000. Source : Bloomberg
Euro zone inflation eased more than expected last month as underlying price growth also slowed, backing arguments for only cautious further rate hikes as the fastest ever European Central Bank monetary tightening cycle starts to take effect. Inflation in the 20 nations sharing the euro eased to 6.1% in May from 7.0% in April, below expectations for 6.3% in a Reuters poll of economists. The reading came as only a modest surprise for investors, however, as national data earlier this week foreshadowed the drop. Core inflation, which excludes volatile food and fuel prices and which has played...
Vacancies at US employers unexpectedly surged in April to the highest in three months, suggesting demand for workers remains strong despite challenging economic conditions. The number of available positions increased to 10.1 million from an upwardly revised 9.75 million in March, the Labor Department's Job Openings and Labor Turnover Survey, or JOLTS, showed Wednesday. The figure beat all estimates in a Bloomberg survey of economists, which called for 9.4 million openings. Source : Bloomberg
German inflation eased this month, official data showed on Wednesday, after similarly benign readings elsewhere across the euro zone, suggesting that price growth may be falling more quickly than expected in the 20-nation currency bloc. The promising inflation figures, coupled with weak growth indicators, also add to the case for increased caution in European Central Bank interest rate hikes in the months ahead after the fastest pace of monetary tightening on record. German consumer prices, harmonised to compare with other European Union countries, rose by a less-than-anticipated 6.3% on...
Australian consumer prices rose by more than expected in April, driven by a jump in automotive fuel, suggesting sticky inflation would likely keep pressure on the central bank. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 6.8% in the year to April, compared with 6.3% in the previous month and market forecasts of 6.4%. Source: Reuters
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...