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Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,709
524hr
Pakistan Cases
1,284,189
30324hr
0.82% positivity
Sindh
475,248
Punjab
442,950
Balochistan
33,479
Islamabad
107,626
KPK
179,928

US economy

US weekly jobless claims fall; consumer prices rise more than expected

US weekly jobless claims fall; consumer prices rise more than expected

  • Initial claims for state unemployment benefits totaled a seasonally adjusted 376,000 for the week ended June 5, compared to 385,000 in the prior week.
  • In the 12 months through May, the CPI accelerated 5.0%. That was the biggest year-on-year increase since August 2008, and followed a 4.2% rise in April.
Published 10 Jun, 2021 06:52pm
US yields slip as investors await 5-year note auction
Markets

US yields slip as investors await 5-year note auction

  • The US Treasury is also set to auction $61 billion in 5-year notes later on Wednesday and $62 billion in 7-year debt on Thursday.
  • In mid-morning trading, the US 10-year Treasury yield fell to 1.553% from 1.564% late on Tuesday.
Published 26 May, 2021 07:54pm
US manufacturing activity powers ahead in early May; work backlogs rising: survey
World

US manufacturing activity powers ahead in early May; work backlogs rising: survey

  • According to IHS Markit "manufacturers highlighted that strain on capacity and raw material shortages are expected to last through 2021." It noted that the supply crunch was raising production costs for manufacturers, who "made efforts to pass higher cost burdens on to clients."
  • The survey said its measure of new orders increased and that though factories tried to recruit more workers, the pace of hiring was the slowest in five months.
Published 21 May, 2021 07:03pm
US stocks drop
Markets

US stocks drop

NEW YORK: Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting...
Published 21 May, 2021 05:04am
US homebuilder confidence steady in May, survey shows
World

US homebuilder confidence steady in May, survey shows

  • "Builder confidence in the market remains strong due to a lack of resale inventory, low mortgage interest rates, and a growing demographic of prospective home buyers," NAHB Chairman Chuck Fowke said in a statement.
  • "Policymakers must take note and find ways to increase production of domestic building materials, including lumber and steel, and suspend tariffs on imports of construction materials," Fowke said.
Published 17 May, 2021 08:47pm
US wholesale inventories rise solidly in March
World

US wholesale inventories rise solidly in March

  • Wholesale inventories shot up 4.5% in March from a year earlier. Sales at wholesalers jumped 4.6% after being unchanged in February.
  • The inventory drawdown subtracted 2.64 percentage points from GDP growth last quarter.
Published 07 May, 2021 08:30pm
US yields slide ahead of non-farm payrolls report
Markets

US yields slide ahead of non-farm payrolls report

  • "The growth story is leading to inflation, while the Federal Reserve is jawboning, trying to keep expectations down, which I think is the right thing to do."
  • In mid-morning trading, the US 10-year Treasury yield fell to 1.559% on Thursday, from 1.584% late on Wednesday.
Published 06 May, 2021 08:08pm
US consumer spending, income rebound in March
World

US consumer spending, income rebound in March

  • Consumer spending, which accounts for more than two-thirds of US economic activity, increased 4.2% last month after falling 1.0% in February, the Commerce Department said on Friday.
  • Personal income jumped 21.1% after declining 7.0% in February. Economists polled by Reuters had forecast consumer spending increasing 4.1% and income surging 20.3%.
Published 30 Apr, 2021 06:22pm
US economy accelerates in first quarter; jobless claims edge lower
World

US economy accelerates in first quarter; jobless claims edge lower

  • Still, the economy remains at least a couple of years away from fully recovering from the pandemic recession, which started in February 2020.
  • Former President Donald Trump's government provided nearly $3 trillion in relief money early in the pandemic, leading to record GDP growth in the third quarter of last year.
Published 29 Apr, 2021 05:39pm