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
US retail sales rose by more than forecast in March and the prior month was revised higher, showcasing resilient consumer demand that's likely to support robust economic growth the first quarter. The value of retail purchases, unadjusted for inflation, increased 0.7% from February, Commerce Department data showed Monday. Excluding cars and gasoline, sales jumped 1%. Source : Bloomberg
US consumer sentiment declined in early April by more than forecast and inflation expectations increased, underscoring Americans' frustration with high prices. The University of Michigan's preliminary April consumer sentiment index dropped to 77.9 from last month's 79.4 that was the highest since mid-2021, according to figures released Friday. The median estimate in a Bloomberg survey of economists called for the gauge to ease to 79. Consumers expect prices will climb at an annual rate of 3.1% over the next year, up from the 2.9% expected a month earlier and the highest this...
The UK economy grew for a second month in February, suggesting a recovery from recession is now well under way. Gross domestic product rose 0.1% from January, the Office for National Statistic said Friday, in line with the gain forecast by economists. January's figure was revised up to show a 0.3% increase. The figures add to evidence that the economy is gathering momentum after sliding into a shallow technical recession in the second half of last year amid elevated inflation and interest rates. Many economists expect growth in the first quarter to beat the 0.1% predicted by the Bank...
The number of Americans who applied for unemployment benefits last week fell to a five-week low of 211,000 in yet another sign of the remarkable strength of the U.S. labor market. New unemployment filings declined by 11,000 from 222,000 in the prior week, according to government figures. Jobless claims have hovered between 194,000 to 225,000 this year, a remarkably low level that reflects a robust labor market and strong economy. Economists polled by the Wall Street Journal had forecast new claims to total 217,000 in the seven days ending April 6, based on seasonally adjusted...
US producer prices increased in March from a year earlier by the most in 11 months, highlighting the sticky nature of inflation. The producer price index for final demand rose 2.1% from March 2023, Labor Department data showed Thursday. On a monthly basis, the PPI increased 0.2% from the prior month. The so-called core PPI, which excludes volatile food and energy categories, rose 2.4% from March 2023, and 0.2% from the prior month. Source : Bloomberg
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...