Initial applications for US unemployment benefits remained subdued last week, consistent with a healthy job market. Initial claims held at 212,000 in the week ended April 13, according to Labor Department data released on Thursday. The median forecast in a Bloomberg survey of economists called for 215,000. Continuing claims, a proxy for the number of people receiving unemployment benefits, were also little changed at 1.81 million in the week ended April 6. Source : Bloomberg
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 pressure for another hike in interest rates. Data from the Australian Bureau of Statistics on Wednesday showed the consumer price index (CPI) rose 1.4% in the March quarter, just above market forecasts of 1.3%. The annual pace slowed to 7.0%, from 7.8%, again above forecasts of 6.9%. For March alone, the CPI rose 6.3% compared to the same month a year ago, down from 6.8% in February. A closely...
US consumer confidence dropped this month to the lowest since July on more pessimistic views about the economic outlook. The Conference Board's index decreased in April to 101.3 from 104 in March, data out Tuesday showed. The median forecast in a Bloomberg survey of economists called for a reading of 104. A measure of expectations -- which reflects consumers' six-month outlook -- fell to 68.1, also the lowest since July. However, the group's gauge of current conditions advanced to 151.1. Source : Bloomberg
Business activity in the US private sector expanded at a strengthening pace in April with S&P Global Composite PMI rising to 53.5 (flash) from 52.3 in March. This reading came in better than the market expectation of 52.8. S&P Global Manufacturing PMI improved to 50.4 in the same period from 49.2 and Services PMI edged higher to 53.7, surpassing analysts' forecast of 51.5. Commenting on the data, "the latest survey adds to signs that business activity has regained growth momentum after contracting over the seven months to January," noted Chris Williamson, Chief Business Economist...
UK businesses reported the fastest growth in a year as spending on holidays and entertainment powered a stronger-than-expected pick-up in momentum. The composite purchasing managers' index jumped to 53.9 in April from 52.2 the previous month after an acceleration in the services sector, S&P Global said Friday. Economists had expected the reading to remain unchanged. It's now been above the threshold of 50 signaling an expansion for three months. The figures suggest the British economy is holding up against a barrage of headwinds, including higher interest rates and squeezed...
German business activity expanded for a third month running in April, boosted by a services sector revival that more than offset a manufacturing decline in Europe's largest economy, a preliminary survey showed on Friday. The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to a 12-month high of 53.9 in April from 52.6 in March, surpassing analysts' expectations for a reading of 52.7. April was the third month in a row that the indicator was above the 50 level that marks growth in activity, after seven consecutive months below the...
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...