The number of Americans who applied for unemployment benefits last week rocketed to a record 3.28 million as large parts of the U.S. economy shut down and companies laid off scores of workers to cope with the coronavirus pandemic. The seasonally adjusted increase in initial jobless claims from March 15 to March 21 was the largest ever, easily crushing the previous record of 695,000 in 1982. Just a few weeks ago, new claims hovered in the low 200,000s and stood near a 50-year low The sudden and almost unfathomable surge in claims is likely just the beginning. Waves of fresh layoffs are...

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The U.K. economy continued a run of better-than-expected growth in February, more evidence of a rebound after fourth-quarter stagnation. While the expansion continued apace, there were also signs of a hit to supply chains from coronavirus, according to IHS Markit's flash purchasing managers index. The virus's outbreak weighed on manufacturers' input stocks, which fell at the fastest pace in...

Germany's economy is facing renewed pressure from beyond its borders as export orders plunge and manufacturers worry about the impact of the coronavirus outbreak on their supply chains. The latest purchasing managers index from IHS Markit shows industry still in a contraction, and expectations for output over the next 12 months dropping. Overall economic momentum was broadly unchanged from...

France increased its dependence on the service sector for economic growth this month, as factories grappled with issues including the coronavirus outbreak and the discontinuation of Boeing's 737 Max airplane. While a Purchasing Managers Index from IHS Markit showed an unexpected pickup in overall momentum in February, manufacturing returned to contraction. The data highlight the euro zone's...

British shoppers started spending again at the start of this year after a very sluggish end to 2019, adding to signs that improved sentiment since December's election is translating into stronger economic activity. Retail sales volumes rose 0.9% on the month in January on a seasonally adjusted basis, after a 0.5% fall in December, Britain's Office for National Statistics said on Thursday. This...

Australia unemployment unexpectedly rose in January despite a surge in full-time employment as more people sought work. Employers added 13,500 jobs last month, compared with economists estimatesof a 10,000 gain, data from the Australian Bureau of Statistics showed Thursday. The jobless rate climbed to 5.3% compared with a forecast 5.2%, while participation increased to 66.1%. The...

U.K. inflation picked up for the first time in six months, boosted by the cost of energy, motor fuel and air fares. Consumer prices rose a stronger-than-forecast 1.8% in January from a year earlier, the fastest since July, the Office for National Statistics said Wednesday. Core inflation picked up to 1.6%. But the acceleration is likely to prove temporary, with inflation expected to fall back...

Investors have been plunged back into a gloomy mood over the German economy on concern the coronavirus outbreak in China will disrupt global trade. ZEW's index of expectations for the next six months decreased to 8.7 in February, below even the most pessimistic estimate in a Bloomberg survey. The poll suggests confidence is fading that Europe's largest economy can stem a manufacturing recession...

Retail Sales in the US increased by 0.3% on a monthly basis in January following December's 0.2% growth, the advanced data published by the US Census Bureau showed on Friday. This reading came in line with market expectation. Retail Sales Excluding Autos also rose 0.3% in the same period after rising 0.6% in December. "Total sales for the November 2019 through January 2020 period were up 4.4%...

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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