Australian employment unexpectedly fell in March and the jobless rate rose, unwinding some of the huge upside surprise of the prior month and reflecting restrictive settings of monetary policy. The economy shed 6,600 roles, compared with a forecast gain of 10,000 and following an increase of over 100,000 in February, data from the Australian Bureau of Statistics showed Thursday. Unemployment ticked up to 3.8% from 3.7% in February. "After some wild fluctuations over the past couple of months, the labor market returned to something a little more normal," said Sean Langcake, head...
The Eurozone manufacturing sector activity contracted further but the services sector returned to expansion in February, the latest figures from the HCOB's latest purchasing managers index survey showed Thursday. The Eurzone Manufacturing Purchasing Managers Index (PMI) arrived at 46.1 in February, as against the expectation of 47.0 and the 46.6 seen in January. The index fell to a two-month low. The bloc's Services PMI rose to 50.0 in February from 48.4 in January, clinching a fresh seven-month high while beating the estimate of 48.8. The HCOB Eurozone PMI Composite advanced to 48.9 in...
France's private sector was still in the contraction territory in February, although conditions have shown tentative signs of improvements as the rate of output and new order declines softened. The HCOB France Composite PMI Output Index stood at 47.7 in February, against the prior 44.6 and the expected 45, flash data from S&P Global and Hamburg Commercial Bank showed Thursday. The reading marks a nine-month high. On the manufacturing side, the PMI rose to an 11-month high of 46.8 from 43.1, surpassing the consensus estimate of 43.5. For the services sector, the PMI hit an eight-month...
Germany's manufacturing sector contraction unexpectedly deepened in February while the services sector activity improved, according to the preliminary business activity report from the HCOB survey published on Thursday. The HCOB Manufacturing PMI in the Eurozone's economic powerhouse declined to 42.3 this month, as against the 46.1 expected and January's 45.5. The index hit the lowest level in four months. Meanwhile, Services PMI rose from 47.7 in January to 48.2 in February. The market expectations were for a 48.0 print in the reported period. The measure touched a fresh two-month...
Australian wage growth picked up further in the final three months of 2023 to pass the Reserve Bank's forecast peak, suggesting policymakers will remain watchful as they assess price pressures in the economy. The Wage Price Index advanced 4.2% in the fourth quarter from a year earlier, just topping economists' estimates, the Australian Bureau of Statistics data showed Wednesday. It was the highest recorded annual growth since the March quarter of 2009. On a quarterly basis, wages grew 0.9%, in line with estimates. The report is likely to reinforce expectations that the RBA will keep...
Consumer sentiment crept up in early February to a 31-month high on newfound optimism on the economy. The first of two reading this month of the sentiment survey rose to 79.6 from 79.0 in January the University of Michigan said Friday. That's the highest reading since July 2021. Americans are more confident inflation will continue to slow and that the labor market will remain strong. A rising stock market has also buoyed confidence. The consumer-sentiment survey reveals how Americans feel about their own finances as well as the broader economy. Sentiment is still well below prepandemic...
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...