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Apr 24, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

USA GDP

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 job growth picks up in May; unemployment rate falls to 5.8pc
World

US job growth picks up in May; unemployment rate falls to 5.8pc

  • Nonfarm payrolls increased by 559,000 jobs last month, the Labor Department said in its closely watched employment report on Friday.
  • A worker shortage blamed on childcare complications, generous unemployment checks and lingering fears over COVID-19 sharply restrained hiring. There are a record 8.1 million job openings.
Published 04 Jun, 2021 07:40pm
Biden to push $6 trillion US budget for next fiscal year
World

Biden to push $6 trillion US budget for next fiscal year

  • Citing documents it had obtained, the Times said the Democratic president planned to pay for his agenda through increased taxes on corporations and high earners, and that the budget deficits would start to decrease in the 2030s.
  • "It just seems like the trillions keep on coming," Republican US Senator Shelley Moore Capito, who is leading a group of colleagues pursuing a counteroffer to Biden's current $1.7 trillion infrastructure proposal.
Published 27 May, 2021 07:13pm
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
US consumer confidence vaults to 14-month high in April
World

US consumer confidence vaults to 14-month high in April

  • The Conference Board said on Tuesday its consumer confidence index raced to a reading of 121.7 this month. That was the highest level since February 2020, just before the onset of the COVID-19 pandemic, and followed a reading of 109.0 in March. Economists polled by Reuters had forecast the index increasing to a reading of 113.0 in April.
Published 27 Apr, 2021 07:48pm
Dollar edges higher on strong data, despite lower yields
Markets

Dollar edges higher on strong data, despite lower yields

  • Retail sales increased 9.8% last month, the Commerce Department said on Thursday, beating economists' expectations for a 5.9% increase.
  • The dollar index earlier on Thursday hit a one-month low of 91.487, before rebounding to 91.633, up 0.03% on the day.
Published 15 Apr, 2021 08:02pm
Wholesale February inventories revised slightly up
World

Wholesale February inventories revised slightly up

  • That suggests inventory investment could contribute to GDP growth in the first quarter. Inventories increased 2.0% in February from a year earlier. Sales at wholesalers fell 0.8% after accelerating 4.4% in January.
  • At February's sales pace it would take wholesalers 1.27 months to clear shelves, up from 1.25 months in January.
Published 09 Apr, 2021 08:47pm
US weekly jobless claims unexpectedly rise
World

US weekly jobless claims unexpectedly rise

  • Initial claims for state unemployment benefits totaled a seasonally adjusted 744,000 for the week ended April 3 compared to 728,000 in the prior week, the Labor Department said on Thursday.
  • The labor market has regained its footing after stumbling in December, thanks to the White House's massive $1.9 trillion pandemic rescue package and an acceleration in the pace of vaccinations against COVID-19, which are allowing more services businesses to resume operations.
Published 08 Apr, 2021 06:21pm
US yields mostly down with market in consolidation phase
Markets

US yields mostly down with market in consolidation phase

  • Yields on the front end to the so-called belly of the curve were down, while those on the very long end were firmer. US 10-year yields, however, dropped to a two-week low.
  • In mid-morning trading, the US 10-year Treasury yield was little changed at 1.656%, from 1.657% on Tuesday.
Published 07 Apr, 2021 08:11pm
US job growth accelerates in March; unemployment rate falls to 6.0pc
World

US job growth accelerates in March; unemployment rate falls to 6.0pc

  • Nonfarm payrolls surged by 916,000 jobs last month, the Labor Department said on Friday. That was be the biggest gain since last August. Data for February was revised higher to show 468,000 jobs created instead of the previously reported 379,000.
  • Nearly 1.7 million jobs were lost that month, and another 20.7 million would vanish in April.
Published 02 Apr, 2021 06:03pm
US manufacturing sector index races to 37-year high in March
World

US manufacturing sector index races to 37-year high in March

  • The Institute for Supply Management (ISM) said on Thursday its index of national factory activity jumped to a reading of 64.7 last month from 60.8 in February. That was the highest level since December 1983.
  • President Joe Biden on Wednesday unveiled a plan to spend roughly $2 trillion on infrastructure like roads and bridges over 10 years.
Published 01 Apr, 2021 07:06pm
Fed's Barkin says watch the data, rate hikes no article of faith
World

Fed's Barkin says watch the data, rate hikes no article of faith

  • "I don't think it matters. I think what matters is the outcomes we actually get," Barkin said.
  • The Fed's pledge not to raise rates or curb $120 billion in monthly bond purchases until the economy more clearly recovers "is quite explicit and outcome based," Barkin said.
Published 25 Mar, 2021 08:45pm
Fed to support economy until recovery 'well and truly done,' Clarida says
World

Fed to support economy until recovery 'well and truly done,' Clarida says

  • It will take some time for economic activity and employment to return to levels that prevailed at the business cycle peak reached last February. We are committed to using our full range of tools to support the economy until the job is well and truly done.
  • The Fed now sees the US unemployment rate falling to 3.5%, roughly where it was before the pandemic, by the end of 2023.
Published 25 Mar, 2021 07:54pm