The Federal Reserve's preferred gauge of underlying inflation cooled last month after an even bigger January increase that initially reported. The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.3% from the prior month, data out Friday showed. That followed a 0.5% reading in January, marking the biggest back-to-back gain in a year. From a year ago, it advanced 2.8%. Economists consider the core to be a better gauge of underlying inflation than the overall index. That metric rose...
The euro area's top two economies worsened in October, with the downturn in Germany intensifying and France failing to grow for the first time in 19 months. Flash purchasing manager indexes showed a composite reading of 44.1 for Germany -- down from 45.7 -- while the French gauge slipped to the 50 threshold that separates expansion from contraction. Both were worse than analysts had anticipated. Germany is probably already in recession as Russia's invasion of Ukraine and the ensuing energy crisis weighs on the manufacturing powerhouse. Data due...
China's economy rebounded at a faster-than-expected pace in the third quarter, but strict COVID curbs, a deepening property crisis and global recession risks are challenging Beijing's efforts to foster a robust revival over the next year. Gross domestic product (GDP) in the world's second-biggest economy rose 3.9% in the July-September quarter year-on-year, official data showed on Monday, above the 3.4% pace forecast in a Reuters poll of analysts, and quickening from the 0.4% pace in the second quarter. The data was originally scheduled for release on Oct. 18 but was delayed until after...
Australia's economic growth is expected to slow sharply next financial year as rising inflation curbs household consumption, according to new forecasts to be unveiled by Treasurer Jim Chalmers in Tuesday's budget. Budget papers are set to show gross domestic product (GDP) for fiscal 2023-2024 will be downgraded to 1.5% from the 2.5% forecast in April. GDP is also due to be downgraded to 3.25% from 3.5% for 2022-2023, according to draft figures from the Treasury. The drop-off is blamed on a slump in consumer spending as rising prices and the biggest jump in interest rates in decades cut...
Japan's inflation hit 3% for the first time in over three decades excluding the impact of tax hikes, an acceleration that adds to the doubts over the need for continued central bank stimulus. The rise in September's consumer prices excluding fresh food from a year ago, matched analysts' forecast. The inflation reading was the highest since 1991 outside a jump in 2014 when prices were impacted by an increase in the sales tax. Despite the extended stretch of price gains beyond its 2% goal, the Bank of Japan is expected to stick with its ultra-loose policy at a meeting next week,...
The number of Americans filing new claims for unemployment benefits fell unexpectedly last week, indicating the labor market remains tight even as demand for labor is cooling amid higher interest rates. Initial claims for state unemployment benefits fell to a seasonally adjusted 214,000 for the week ended Oct. 15, the Labor Department said on Thursday. Data for the prior week was revised to show 2,000 fewer applications filed than previously reported. Economists polled by Reuters had forecast 230,000 applications for the latest week. The labor market has been largely resilient, though some...
Japan's inflation hit 3% for the first time in over three decades excluding the impact of tax hikes, an acceleration that adds to the doubts over the need for continued central bank stimulus. The...
Defisit perdagangan A.S. menyempit pada bulan April karena ekspor dan impor turun, menyoroti dampak dari tarif Presiden Donald Trump bahkan sebelum negosiasi dengan China terurai dan ia mengancam...
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...