The U.S. economy contracted at an annual 5% pace in the first quarter instead of 4.8%, revised government data show. A downward revision to inventory investment mostly accounted for the downward revision, the Commerce Department said. Looking ahead, economists surveyed by MarketWatch predict GDP will plunge at a 27.7% annual rate as people stayed home to try to stem the spread of the coronavirus. Source : Marketwatch

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Two surveys of U.S. manufacturers and service companies suggested U.S. economic growth is holding up at a modest pace at year's end, with the potential to pick up in 2020. The IHS Markit purchasing managers' index for factories was little changed in December at 52.5 after 52.6 the prior month, while a similar gauge for service industries rose to a five-month high of 52.2, according to...

The UK manufacturing sector activity dropped at the fastest pace since July 2012 in December, the preliminary report from IHS Markit showed this Monday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers Index (PMI) dropped to four-month lows of 47.4 in December versus 49.4 expected and 48.9 “ Novembers final reading. Meanwhile, the Flash UK Services Business...

Just when German factories appeared to be exiting a year-longslump that battered the countrys economy, the sectors contraction has worsened again. IHS Markits Purchasing Managers Index for manufacturing unexpectedly fell to 43.4 in December, defying economists estimates that the number would pick up. The weakness more than offset growth in the services sector,...

A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will "have to go out and buy much larger tractors," according to President Donald Trump. The U.S. president, speaking Friday to reporters in the Oval Office, described the agreement with Beijing as a "phenomenal deal." Officials of the two countries...

U.S. retail sales missed forecasts calling for an acceleration in November as clothing stores and restaurants posted declines, signaling the economys main engine may cool in the fourth quarter by more than previously thought. The value of overall sales climbed 0.2% after an upwardly revised 0.4% increase the prior month, Commerce Department figures showed Friday. The median estimate in a...

A key measure of U.S. consumer prices remained subdued in November, bolstering widespread expectations Federal Reserve policy makers will hold the line on interest rates. The core consumer price index, which excludes volatile food and energy costs, rose 0.2% for a second month, and 2.3% from a year earlier, a Labor Department report showed Wednesday. Those figures matched the median...

The ZEW indicator of economic sentiment in Germany turned positive in December, rising to the highest level in 21 months. The ZEW registered a reading of 10.7 points, up from -2.1 in November. "This hope results from a higher than expected German foreign trade surplus in October, alongside relatively robust economic growth in the EU in the third quarter and a stable German labor market. The...

U.K. GDP was flat in the three months ending October, the Office for National Statistics said Tuesday. There were increases across the services sector, offset by falls in manufacturing with factories continuing the weak performance seen since April, the statistics agency said. The ONS also reported a 1.3% drop in industrial production in the 12 months ending October, and a 2.1% drop in...

ASIA
China's Factory Outlook Improves More than Expected in September
Monday, 30 September 2019 09:02 WIB A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction. The...
UNITED STATES
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs...
EUROPE
German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash...
GLOBAL ECONOMY
First Phase of US-China Trade Deal Announced
Monday, 16 December 2019 09:09 WIB A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will...

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