Applications for unemployment benefits in the U.S. declined last week by more than projected, easing concerns of a renewed downturn in the labor market after several large states reported a pickup in coronavirus cases. Initial jobless claims in regular state programs fell by 99,000 to 1.31 million in the week ended July 4, Labor Department data showed Thursday. The median forecast in a Bloomberg survey of economists called for 1.375 million. Continuing claims -- the total number of Americans claiming ongoing unemployment benefits in state programs -- declined to 18.1 million...

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Private-sector employment shed a total of 2.76 million jobs in May, Automatic Data Processing Inc. reported Wednesday. The gain was well below forecasts from economists surveyed by Econoday who expected a loss of 8.66 million. In April, the private sector shed 19.56 million jobs. Small employers lost 435,00 jobs in May. Mid-sized companies shed 722,000 jobs. And large businesses, with 500...

Britains economy remained in a severe downturn in May although the pace of the slump moderated from Aprils crash and some companies benefited from the easing of coronavirus lockdowns around the world, a survey showed on Wednesday. The IHS Markit Purchasing Managers Index (PMI) combining Britains huge services sector and manufacturing rose to 30.0 from 13.8 in April, up from a...

The economic activity in the US' manufacturing sector contracted at a softer pace in May than it did in April with the ISM's Manufacturing Purchasing Managers' Index (PMI) improving to 43.1 from 41.5. This reading came in slightly worse than the market expectation of 43.6. Further details of the publication showed that the Employment Index rose to 32.1 from 27.5 and the New Orders Index edged...

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...

Australian employment in the June quarter may have fallen by only 15% from a year earlier, less than a previous 20% estimate, as there are signs of job increases in the industries most affected by the novel coronavirus, the central bank chief said on Thursday. Reserve Bank of Australia (RBA) Governor Philip Lowe reiterated that the economic outlook was still incredibly uncertain. Lowe was...

A nationwide lockdown due to the coronavirus outbreak triggered a record fall in U.K. retail sales in April, the Office for National Statistics reported Friday. The volume of sales fell 18.1% in April on the year, the biggest monthly drop on record, following a slide of 5.2% in March. All sectors saw a monthly decline in volume sales except for a record rise in sales for non-store retailing of...

U.S. private sector firms reported a slightly slower rate of contraction in activity in May, according to latest PMI data from IHS Markit. The firm said its flash manufacturing purchasing index rose to 39.8 in May from 36.1in April. Meanwhile the flash services purchasing managers index rose in May fell to 36.9 from 26.7. Any reading below 50 indicates worsening conditions. The flash estimate...

Millions more Americans filed for unemployment benefits last week as backlogs continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another month of staggering job losses in May. Initial claims for state unemployment benefits totaled a seasonally adjusted 2.438 million for the week ended May 16, the Labor Department said on Thursday....

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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