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....
The number of Americans who applied for unemployment benefits last week slipped to 209,000 and continued to signal a strong labor market and low level of layoffs. Economists polled by the Wall Street Journal had forecast new claims to total 218,000 in the seven days ending March 9, based on seasonally adjusted figures. New jobless claims have ranged from 194,000 to 225,000 a week in the first three months of 2024, an extremely low level from a historical perspective. New jobless claims rose slightly in 28 of the 53 states and territories that report these figures to the federal...
Prices paid to US producers rose in February by more than forecast, driven by higher fuel and food costs that add to evidence inflation remains elevated. The producer price index for final demand increased 0.6% from January, Labor Department data showed Thursday. The gauge rose 1.6% from a year earlier. The so-called core PPI, which excludes volatile food and energy categories, advanced 0.3% from the prior month, and 2% from a year ago.
US retail sales rose by less than forecast after a steep drop to start the year, underscoring concerns about the durability of consumer spending. The value of retail purchases, unadjusted for inflation, increased 0.6% from January after a downward revision to the prior month, Commerce Department data showed Thursday. Excluding cars, sales advanced 0.3%. Source : Bloomberg
Britain's economic output grew by an as expected 0.2% in January, after entering a shallow recession in the second half of 2023, figures from the Office for National Statistics showed on Wednesday. Economists polled by Reuters had forecast a 0.2% month-on-month expansion of gross domestic product for January. Britain's economy has been very sluggish since its initial recovery from the COVID-19 pandemic, beset by a surge in the cost of energy imports when Russia invaded Ukraine and, more recently, by high Bank of England interest rates. GDP shrank by 0.3% in the final quarter of 2023 and...
Underlying US inflation topped forecasts for a second month in February, reinforcing the Federal Reserve's cautious approach to cutting interest rates. The so-called core consumer price index, which excludes food and energy costs, increased 0.4% from January, according to government data out Tuesday. From a year ago, it advanced 3.8%. Economists see the core gauge as a better indicator of underlying inflation than the overall CPI. That measure climbed 0.4% from January and 3.2% from a year ago, boosted by gasoline prices, Bureau of Labor Statistics figures...
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...