The headline seasonally adjusted final IHS Markit/CIPS UK Services PMI Business Activity Index posted 47.1 in June, up sharply from 29.0 in May and the highest for four months. This compared with the earlier 'flash' figure of 47.0 in June. The data did little to influence the British pound or provide any meaningful impetus to the GBP/USD pair. Source : FXstreet

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Some 5.25 million workers whove lost their jobs applied for unemployment benefits last week, driving the number of coronavirus-related layoffs above 21 million in just one month as the nation grapples with the worst pandemic in a century. Initial jobless claims have climbed by 5.25 million, 6.2 million, 6.8 million and 3.3 million in the past four weeks, reflecting an almost unfathomable...

The Australian Bureau of Statistics (ABS) on Thursday cautioned that data on March employment covered just the first two weeks of the month before measures were taken to contain the spread of COVID-19, the respiratory disease caused by the new coronavirus. The data showed employment actually rose by 5,900 in March, when analysts had expected a drop of 40,000, while the jobless rate ticked up...

The onset of the coronavius pandemic triggered a record 8.7% slump in sales at U.S. retailers in March ” and theres no light at the end of the tunnel. Sales fell for the second month in a row in whats likely to be a prolonged period of agony for an industry that still relies heavily on lots of foot traffic and customers bunched together when they shop. Economists polled by MarketWatch...

China's Trade Balance for March, in Yuan terms, came in at CNY 139.42 billion versus CNY -42.59 billion last. Exports came in at -3.5% vs. -15.9 last, while imports arrived at +2.4% vs. -2.4% last. China Jan-March yuan-denominated exports -11.4% YoY. Jan-March yuan-denominated imports -0.7% YoY. Jan-March trade balance +98.33 bln yuan. Q1 total trade with the US drops 18.3% in yuan...

The CPI dipped 0.4% last month, the biggest decline in five year, the Labor Department said Friday. The drop was in line with the forecast of economists surveyed by MarketWatch. Core inflation, minus food and energy prices fall 0.1% in March, the first decline in ten years. The rate of inflation over the past 12 months fell to 1.5% from 2.3%. The cost of gasoline fell 10.5% in March after...

The latest round of coronavirus-induced layoffs and furloughs soared by another 6.6 million in the first week of April, bringing total job losses in less than a month to a stupefying 16.8 million. Initial jobless claims, a rough proxy for job losses, have now posted increases of 6.6 million, 6.9 million and 3.3 million in the last three weekly readings since the middle of March. Initial...

The U.S. economy shed 701,000 jobs in the month to mid-March, the government said in a monthly labor market report that largely predates any impact from the Covid-19 pandemic on the U.S. economy. The figures, normally the most eagerly-awaited data of the month in global financial markets, have already been rendered largely meaningless by the unprecedented spike in jobless claims over the...

The number of Americans applying for initial unemployment benefits surged to a new record 6.65 million last week, the U.S. Labor Department said on Thursday, as the full impact of the fallout from the coronavirus pandemic on the labor market became apparent. The increase dwarfed the prior weeks figure of 3.28 million and eclipsed the previous record of 695,000 set in 1982. The number of...

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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